When you’re planning to put your home on the market, you naturally want to get the best possible offer(s) from potential buyers. While having a spare $100,000 to spend on remodeling is probably out of the question, we’ve created a list of high-impact updates ranging from $100 to $1,500 that will add value to moderately priced homes in TN.
We recommend completing as many of these upgrades as possible before placing your home on the market, however, if you can only afford a few, you’re still sure to see financial benefit for your efforts.
Target Budget: $100 – $400
Manicure all Outdoor Areas
An untamed, neglected outdoor space will give buyers the impression that you’ve neglected your home in its entirety. This problem is easy to remedy, though; either hire a lawn service company to spruce up your yard or spend a few weekends pulling weeds and reseeding your lawn. Your curb appeal can go from sketchy to sleek in less than a month!
Once inside your home, buyers want to see immaculate surfaces everywhere. If you have $400, hire a company to spend a day making your home top-to-bottom spotless. Otherwise, even if you’ve been keeping your home relatively clean, you’ll want to roll up your sleeves and employ some good old-fashioned elbow grease to banish dust, dirt, and grime from every visible nook and cranny.
Maximize Square Footage
While a home’s dimensions do usually impact its value, everyone knows that size isn’t everything. Give buyers the opportunity to appreciate your home’s potential by maximizing the visual impact of the space available in each room.
The more light that enters a room, the more spacious it will feel, so swap out heavy drapes with airy sheers or light-colored fabric blinds. Adding large, beautiful mirrors will make a room feel more expansive, giving the feeling of having doubled the floor space.
Finally, get rid of clutter or stash it in a storage unit. Avoid leaving any rooms completely bare – empty spaces can seem small and limited. However, carefully-furnished, tidy spaces are inviting and can feel bigger than the limits of their linear measurements.
Swap Out Fixtures
If your home’s still sporting brass from the ‘80s, it’s time to replace it. Even affordable fixtures will be an improvement provided they are understated and contemporary. If your budget doesn’t allow for replacing fixtures, consider spray-painting them to conceal their outdated finish.
Small Bathroom Updates
While it might not be possible for you to remodel your bathroom, you should make sure any garish wallpaper or unusual paint jobs are swapped out for updated (waterproof) paint and fresh fixtures. Grout should be fresh and the ventilation system should be carefully cleaned.
Target Budget: $400 to $750
Small Kitchen Updates
Similar to bathroom updates, you don’t have to spend an arm and a leg to refresh your kitchen. Determine which aspect of your kitchen is the least appealing. It might be outdated small appliances or a chipped sink, grimy cabinets or out-of-style lighting fixtures. Choose one or two of these areas and make high-impact improvements, each of which will add significant value to your home.
Maintenance and Repairs
Like many homeowners, you may be behind on a list of small repairs. If you’re handy, dedicate a few hours per weekend to getting caught up. If you don’t have the time or the inclination to DIY, hire a handyperson and let them tackle it for you. Prospective buyers will like seeing a home that’s carefully taken care of.
Fix Damaged Flooring
While you might not have the cash on hand to completely renovate your flooring, it’s a good idea to take care of any glaring flooring issues like stained carpets, cracked tiles, or water damaged wood. Try to focus on these big issues first, then replace or repair other areas of flooring as your budget allows.
Moderate Bathroom Updates
Second only to the kitchen when it comes to your ROI (Return on Investment), bathroom renovations are a worthwhile investment. A small-scale remodel can be completed for less than $750; upgrading the flooring, fixtures, or vanity can be transformative without straining your budget.
Target Budget: $750 to $1,000
Go Green: Upgrade Appliances
If your standard water heater is reaching the end of its life expectancy, entice buyers by installing a tankless, on-demand water heater. Eco-friendly and appealing for their limitless supply of hot water, a tankless heater will help your home stand out from the competition.
Research whether homes for sale in your area typically include appliances as part of the sale. If they do – consider springing for new, energy-efficient models. Matching the appliance finishes throughout the home will create a fresh, seamless look.
If you have about $1k and a free weekend, you can swap out your scraggly grass for gleaming sod or drought-resistant plants. This one upgrade will change your home’s first impression entirely, creating a warm, inviting feel right from the curb.
Target Budget: $1,000 to $1,500
If your ceilings are coated in an unfortunate layer of “popcorn,” you must get rid of this unsightly texture before showing your home. Either do it yourself or hire a contractor to soften and scrape off the texture; then opt for crown molding to draw the eye to the fresh paint and added dimension.
An eye-catching, solid front door can help create a positive first impression. If your front door feels cheap or looks worn, buyers may generalize that feeling to the rest of your home, whether that is accurate or not. Choose a contemporary design with a unique feature (color, stained glass, or ornate doorknob) to help make your home stick in shopper’s minds.
Hopefully, this list has empowered you to choose the updates that will create the biggest impact on your sale. Be sure to reach out to us here at Parks if you’d like assistance choosing the upgrades that are right for your unique home.