About 28 years ago, the world was introduced to the Internet for the first time. From that day forward, buyers have become increasingly busy. As a result, unless you’re the Property Brothers or Joanna and Chip Gaines, most buyers simply have no interest in taking on someone else’s project. Buyers, instead, are looking to move into a house that is aesthetically pleasing and neutral in tone. This allows them to set down their purple sofa and mauve love seat until they get around to personalizing the residence – usually during the first January after they’ve purchased.
So, here’s the breakdown. The most effective way to increase the value of a property is by making aesthetic upgrades – NOT by making improvements to mechanical systems.
Buyers will pay more if there are…
• Freshly painted rooms, painted in Pottery Barn earth tones
• Removal of wallpaper
• Newly refinished hardwood floors
• Updated kitchens/baths
We encourage people to consider some of these aesthetic improvements pre-closing. However, kitchens and baths are not among the upgrades that we encourage in the weeks or months leading up to listing. Making those changes during that period of time that a buyer is living in the house and enjoying the upgrades is strongly advised and will, ultimately, increase the value of the home upon sale.
On the other hand, buyers will not be inclined to spend more money to purchase a property because a furnace (which they assume is going to keep them warm in the middle of a March blizzard…) is three years old versus nine years old. Likewise, a buyer will not offer more money because a roof is new. A roof that is keeping them dry and is less than 20 years old is satisfactory enough. In short, buyers assume that mechanical systems will function and do their necessary and appropriate job after closing.
Of course, there is an exception to this rule. If the mechanical systems in a home are not functioning, then this is certainly something that should be addressed before listing your property. With the unpredictability of recent weather patterns, no new homeowner wants to be in need of a new furnace or roof right out of the gate!
Updating the flooring in your home can bring about many great results. We’ve come up with a few reasons why you should update your flooring or carpet!
1. It can make your home healthier.
Old flooring and carpet hold dirt, pet hair, dust, pollen, and allergens, making your home unhealthy no matter how much you clean it. Start fresh with new carpets and flooring, and spend less time scrubbing, mopping, and vacuuming!
2. It is a simple update with a lot of punch.
Updating your flooring can alter the whole feeling of a room with just a simple change. Different styles of flooring bring different looks to a room, so think of the style you’re trying to convey and pick what matches your idea.
3. It will help your home sell faster.
While it’s unknown if updating your carpeting and flooring can actually increase the value of your home, it might result in more interest from buyers. Fresh flooring adds to the “new home” feel buyers are seeking, regardless of your home’s age. Buyers will enjoy the clean, brand-new flooring, but be sure to choose a neutral color or tone that will appeal to all buyers.
Updating your flooring, whether you choose carpet, hardwood, vinyl, ceramic, laminate, linoleum, or hardwood, can make a big difference.