The value or sale price of a home is ultimately dictated by what a buyer is willing to pay and what a seller is willing to accept. Although sale prices will follow market trends, not all homes are created equal and prices will vary greatly between similar homes. This is largely dependent on the perceived value buyers place on a specific property. To bring the highest sale price, a home must catch a buyer's eye from the first photo they see online and continue to not disappoint once the home is viewed in person.
For a spring or summer home sale, this winter is the perfect time to tackle interior remodeling projects that will make the home outshine the competition. Of course, buyers will be looking at the home's HVAC system and roof's condition and if they need to be replaced, that should take precedence. But if the shell of the home is in good condition, these projects will have a high return on investment:
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Re-Paint the "Accent" WallsDuring the early 2000s everyone was painting one wall of each room an "accent" color, usually very dark and bold. This can have a great effect when done properly. However, most times it's a personal color preference that is simply distracting to buyers. The same goes to homes with different paint colors in every room; buyers want consistency and want to be able to add their personal touches to the home. Painting a home's interior or exterior has the greatest visual impact for a fairly small price, especially if sweat equity is involved.
Whites, beiges and warm grays are the best colors to showcase a home's qualities. While it may seem boring to some, remember that appealing to the broadest spectrum of buyers will bring the highest sale price. If accent walls are necessary, tone them down and keep it neutral.
Freshen up the KitchenWhite kitchens continue to be the most popular. Buyers today want white, bright and clean kitchens. It doesn't have to be a stark white; just a clean neutral, light color palette. Outdated cabinets can be a let-down for homebuyers, a pro can easily paint them for a quick fix, giving them a new life.
Almost every buyer likes solid-surface countertops. Installing new counters and a complementary backsplash on top of the freshly painted cabinets will stand out and shine in buyers' eyes. Stick with quartz countertops for cost effective, easy to maintain counters.
The icing on the cake will be new appliances. Most large DIY home stores will offer appliance packages at various price points. Prices vary greatly and it's important to spend the appropriate amount on good quality, reliable appliances that the home commands. They will sparkle in the kitchen and provide a piece of mind, and in turn more perceived value.
If a full remodel isn't possible, pick one project and complete it. Having a completely remodeled kitchen with the remaining home needing to be updated is much more valuable than partially completed tasks throughout.