That special touch…
Adding unique features to your home makes sense if you like those things and are planning on enjoying them yourself, just do not expect them to add value to your home.
To you a custom closet, a hot tub and wine cellar may sound like a dream, but what if the buyer doesn’t share your opinion and thinks the hot tub is an eyesore?
If you are considering adding a ‘special touch’ to your home to entice new buyers, save your money.
Why? These personal touches make it harder for a new family to imagine themselves living in your home.
The key is middle of the road and yes, boring neutral. Complete kitchen remodels can be complicated and costly, but small upgrades take less time, cost less, and can often be done without even hiring a contractor. Paint your cabinets, switch out hardware, install a backsplash or replace that worn out counter top.
Stick to moderately priced materials, don’t go with top of the line granite, that only you know has that special added quality. Buyers won’t know and most likely won’t care that you spend an extra 500 buck.
Avoid large projects like additions. According to Remodeling magazine’s 2011-2012 “Cost vs. Value Report,” a master suite could cost over $106,000, while adding a family room could run you around $83,000. Besides the cost they may take up to 9 months to complete from start to finish. Another reason not to do this is that your home, eventhough it is bigger, will look similar to other homes in your area. You will add value to the homes around you, but you would have to charge a premium to recoup your expense.
Rather than extending the size of the house, think curb appeal. Noone will know about the awesome basement in your home if they never enter, cause they hate the exterior.
A leaking roof will either push away prospective buyers or lead them to demand large price concessions. Correcting a roof issue will save you money in the long run. The repairs a generally a lot less than the concessions the buyer will ask for. A new roof is also an item to market, buyers simply love new roofs, and it will improve the appearance of your home significantly.
Are you worried that your outdated bathroom will scare buyers away? A major bathroom remodel might be in order, but just remember that it will be expensive, and in the end it still might not suit the buyer’s tastes.
Bathroom renovations are expensive a 5 x 8 ft. bathroom may cost upwards of $10,000.
What if the buyer doesn’t share your taste in grout, you’ll end up limiting your audience. let’s face it a bathroom is a highly personal space, better to let the buyers do the remodeling after purchasing the property.
But what if you have that pink or avocado color bathroom? Think small. Replace a vanity, sink and faucet. Or get a vinyl cover for the bath.
A new coat of paint can do wonders, it’s important to stick with neutral colors that offer a wide appeal. While you may love orange, it may not be for everyone.