Maximizing Your Home’s Resale Value
On this segment of The Marc and Mandy Show, Marcia Bergen shares tips for how to make your home’s resale value better.
Marcia Bergen: Hi Marc and Mandy, today we’re going to be discussing the three renovations to maximize your resale value.
- The number one things that I tell my clients is to paint. Paint, even if you’re not changing a paint color, will freshen up your home and gives buyers a sense of pride of ownership, and also just makes them feel like you’ve taken very very good care of the property. It also is a great renovation because it really is quite inexpensive and can greatly change the feel of a home the flow of a home. For an example, if you have a lot of mismatched colors, sometimes just changing the tone to something that’s more neutral and appealing to a more broad audience definitely helps. When buyers are going through your home, they need to imagine living there, so you can imagine that this small investment will net you a lot more money when you can appeal to a bigger audience.
- The number two renovation that has a great impact on the resale value of your home is kitchens. All buyers, whether they’re top chefs or beginner cookers, love the heart of the home, which is the kitchen. I always suggest to my clients that you think middle of the road when you’re creating your budget. So for an example, middle of the road millwork. So, not the cheapest cabinets that you can buy, but certainly not the most expensive. Focus on things like stainless appliances, things that are classic but also some hard surface counters that show longevity, and then do something really really fun with tile or with paint so that your kitchen feels fresh and modern. It’s definitely a great investment that will always net a wonderful return for you.
- The third renovation that I recommend to my clients, especially if they are a year out or six months out prior to listing their home, is to freshen up their bathrooms. Both kitchens and bathrooms (considered water rooms), add the most amount of resale value. When you’re talking to a buyer, first of all I think buyers have an impression that living without a bathroom is quite inconvenient as is living without a kitchen. It doesn’t always mean that you have to gut your entire bathroom and start all over. Things like a new tile floor, fresh wallpaper, a fresh mirror, or some new lighting can have high high impact. So really focusing on the water rooms is a great investment and will net you a wonderful return when thinking of selling your home.
