Most sellers wait until a couple of weeks before they go on the market to invest money into their property – or they neglect to do it all and let the market decide on price for them. As a result, sellers can miss out on some massive returns. Here’s how much you should be investing annually into your home to ensure a great sale when you go to list on the market.
The general rule of thumb is that homeowners should invest approximately 1% of their home’s value annually into upgrades. The market changes with time and new features and technology are always evolving. When a buyer comes to purchase your home one of the big selling points is when they see there’s not a whole lot of work they’re going to need to do when they move in. When homeowners neglect to spend money, inevitably, it puts a seller at a disadvantage when they go on the market to sale. Suddenly, they become vulnerable to market conditions, and even worst, they end up competing with a builder who’s certainly going to put all the bells and whistles into the home that the buyer loves.
So, invest the money, but do it wisely. Here are a few places in the home you’re going to want to focus on:
- Kitchen – The kitchen is the most important room in the house. It’s where everyone likes to spend their time. Upgrade the counter tops, put in a gorgeous looking back splash, and make sure the flooring goes perfectly with the rest of the decor.
- Lawn – If you stay up on the regular maintenance of your lawn it’ll be way less work you need to do when it’s time to get market ready. Buyers love beautiful lawns, and most importantly, it makes your home that much more inviting. Be sure to seed and treat your lawn during the appropriate times of the year and keep it cut regularly.
- Bathrooms – Coming only second to the kitchen, the bathrooms are the next most important rooms in the house. This is where you can be a bit more “Artsy” and show off the beautiful sink and faucet you always wanted to buy. You also want to match it up with the right kind of counter tops. Don’t forget to hang a few relaxing portraits on the wall. Even though they’re not going to stay with the house it adds to the ambiance of the room.
For more tips be sure to tune in to Style N’ Home where we show you how to make your home more attractive with style.