- The investor or handyman who is looking to find the best bargain and isn't afraid of a true fixer-upper
- The buyer who wants a house to be perfect and up-to-date and is willing to pay top dollar to get it
- The buyer who doesn't mind doing some renovations but wants a home where they can live comfortably until they have the time and money to make improvements - this buyer will be looking to pay an average fair market value
Of course there are plenty of buyers who want it all and still want to get a bargain, but in today's market they are out of luck.
Now consider the current condition of your home. Try to be objective. It might be best to get the opinion of a friend who will be honest with you. Is your home almost perfect - great condition and up-to-date? Maybe everything is great except your carpets are looking worn. If that's the case, it may make sense to replace those carpets and work toward getting top dollar for your home.
But what if there are lots of things that aren't updated? In this case, it's less likely it will be worth spending the time and money to get top-dollar. (An exception to this is if you have a home in a highly desirable location such as river front. In this case the added value to your home may be significantly higher than the cost to renovate. Ask your REALTOR® to do a market analysis of the price with and without renovations.)
Most of us find ourselves falling into the third category. Our homes aren't completely updated but they also aren't a throwback to 1970! If this describes you, consider the following things that can be done to make your home seem more up-to-date without spending a lot of money:
- Consider painting your Grout. The 12 inch square floor tiles that were standard 15+ years ago have now been replaced with larger 18 inch tiles. Those 12 inch tiles will date the house and if you have dark grout the size of the tile will be much more obvious. An easy solution is to paint the grout. It's easy to do, inexpensive, and you can order it in any color. We've recently used this paint/sealer in our condo lobbies and we had people asking if we put down new floors!
- The same advice applies to bathroom cabinets. Paint and add new handles. And an even easier way to make your bathroom more attractive to buyers is to change the shower curtain. Stay away from layered shower curtains with a valance or anything that tries to make a statement. Instead go for a curtain with a subtle pattern in light colors.
- Mirrors and light fixtures are other easy bathroom upgrades. Medicine cabinets over the bathroom vanity are out of style as well as large plain mirrors with no frames. Choose a framed mirror for an updated look. Don't spend $100+ on a mirror from a home improvement store, instead try a discount store like Kirklands. You can find a great-looking contemporary mirror for under $30! You should also be able to find a vanity light fixture at Home Depot or Amazon for under $100.
- I know some of you out there have bathrooms that need more than just a little bit of help. Perhaps you still have pink, blue or green tile from the 1950's, 60's & 70's. Check outthis blog post for ways to decorate around the color - you just need a little imagination! And if that won't work consider reglazing the tile. Having tile professionally reglazed isn't cheap, but it's a lot cheaper than re-tiling and replacing. You can also try to do the refinishing yourself but the really good products that professionals use are not available to the general public.
The bottom line is you want a prospective buyer to have an overall good impression of the home. It's OK that it isn't perfect, but you don't want them to remember it as the dated house that has to be completely remodeled!
If you live in Brevard County, you can click here to arrange for a free consultation of recommended improvements and staging tips of your home.