Three Home Upgrades that Attract Home Buyers

What is the best way to insure your home will sell quickly when it goes on the market?  Know what home trends are most in demand; play up those features already found in your home; and consider making modifications to add sought-after upgrades that will provide the greatest return on your investment.

Generally, the home improvement upgrades that will make the most impact on your home’s resale value are minor kitchen and bath remodels, and other modest, cosmetics improvements, like new flooring, repainting and landscaping.  The goal is to bring your home up-to-snuff with others in your neighborhood, not to improve until your home is on the top rung of the property value ladder for its location.  Some home remodeling projects will not increase the home’s value dollar for dollar. Before considering any major remodeling projects, consult a REALTOR who is knowledgeable about properties in your neighborhood.

Three Home Improvement Upgrades that Pay Off 

In many areas of the country, resale homes compete in the marketplace with move-in ready, new homes with all the latest bells and whistles.  While that may seem an unfair advantage to some, many home buyers are still drawn to older resale homes for their location, charm and architectural detailing.  The latest home trends do not appeal to or apply to all homeowners, but they can be a good indicator of what features are the most popular with buyers.  Regardless of the age of the home, all buyers want a structurally sound, well-maintained, updated, clean home with good curb appeal.  As for the resale homes that do not meet those standards, investors/flippers and bargain-hunters will look to buy them at below market value, then make many of the improvements we’ll discuss in this series.  Make some prudent improvements, and your resale home will beat the competition in days on the market and resale value!

1.  Updated Kitchens

A minor kitchen remodel will pay dividends at resale, if the kitchen is functional in its current layout.  What does a minor remodel entail? 

• Reface the existing cabinetry with new doors and drawers
• Replace the appliances with good quality, energy-efficient models (preferably stainless steel)
• Update the flooring and countertops
• Finish by painting walls a nice, neutral color - no wallpaper.  

As a rule of thumb, if your home value is less than $400,000, don’t splurge on high-end flooring and countertops; good quality resilient flooring and laminate countertops will do.  Laminate manufacturers like WilsonArt offer premium laminate that resembles natural stone.   If you own a more upscale property, buyers will expect natural stone or the new trend for a modern look - polished glass, and the new status symbols - professional-grade appliances from the likes of Bosch, Thermador and Sub-Zero to name a few.

 2.  Spa-like Baths

A minor bathroom remodel is the top renovation project in terms of recouping your investment, especially if you upgrade the master bath.  What is considered a minor remodel?  Using the same footprint and configuration of fixtures, and replacing the tub, tile surround, floor, toilet, sink, vanity and fixtures.

The trend in baths is to create a spa-like retreat, complete with steam shower, multiple and rain shower heads, shower seating, and a soaking tub.  But such features boost the cost to a major remodel price tag.  What you can do is give the bath a spa-like feel by selecting natural materials, colors and finishes. 

• Select natural stone countertops.  Granite in the bath is a more affordable option than in the kitchen since vanities are typically less than 8 feet in width.  A granite fabricator/installer will have remnants left over from past jobs; many vendors will give you a granite remnant and charge you to cut, finish and install the countertop.
• Under-mount sinks are favored for their easy maintenance.  Bowl sinks that sit on top of the vanity have been popular but are falling out of favor since they are more upkeep and water tends to splash out of the bowl.  Pedestal sinks are a good option if there is enough storage within the bathroom.
• Choose faucets and fixtures with a current finish like brushed nickel or oil-rubbed bronze for a high-end look.
• For the floors, go with large, tumbled ceramic or marble tiles, or slate.
• On the backsplash and in the shower, consider glass tiles in colors of the sea, tumbled marble or  3″ x 6″ white subway tiles.
• Consider refinishing the tub and invest the savings on a more expensive lighting fixture or faucet.
• Paint the room a calming, restful color, like Rainwashed (6211) or Liveable Green (6176) from Sherwin-Williams.  

3.  Hardwood Floors

Most real estate experts agree that replacing existing carpeting, laminate or resilient flooring with hardwood is a good investment.  Home buyers are attracted to wood floors for their aesthetic beauty and warmth. But they also like hardwood for practical reasons:

• hardwood is easy to clean and maintain
• hardwood can be sanded, refinished and renewed
• hardwood promotes a healthier indoor living environment (especially if you select prefinished hardwood).

There are facts to back up hardwood as a smart remodeling option.  A 2006 national survey conducted by the National Wood Flooring Association with real estate agents across the country boasts these facts:

• 99% of agents agree that homes with hardwood floors are easier to sell
• 82% agree that homes with hardwood floors sell faster
• 90% agree that home with hardwood floors sell for more money
• 88% of the agents responding said homes with hardwood floors sell for 1% - 10% more
• 12% of agents responding said homes with hardwood floors sell for over 10% more.

Preparing your home for sale is always a good idea, regardless of a seller’s budget.  But sellers willing to make a larger, upfront investment to upgrade the kitchen, bath and flooring will be rewarded with a quicker sale and a profitable return.  Stay tuned for three more features that attract new home buyers.

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