Here’s what you should think about before making home updates and upgrades.
If you’re thinking about making updates or upgrades to your home before selling, there are a few things you need to keep in mind. First, identify where you are in the home-buying cycle. What kind of home are you looking for? Are you in a “for now”, “for when,” or “forever” home? Identifying the type of home you have will tell you what to do next.
If you’re living in a “for now” house, a home you know you’re only going to live in for three to five years, you’re going to live in a world of gray and beige. It’s important to keep the colors in the home neutral so buyers can come in and see it as a blank canvas. If you’re living in a “for when” home, you can add a little bit more personality to it, but keep in mind that you’ll eventually need to sell and some of the updates you’re making could become outdated when that time comes. The forever home is where you can have the lime green cabinets and bright orange paint.
When you’re in the “for when” or “for now” stage, it’s important to have a very clear idea of who your buyer is and cater to those buyers. Keep that potential buyer in mind when making upgrades. Something you need or like won’t necessarily be something that a buyer will need or like in the future.
When we put money into a property, we do so with the knowledge that the upgrades we choose are going to widen the home’s value over time. When you make upgrades that a buyer doesn’t want, you increase the chasm instead of building a bridge.
If you’re at the point where you’re ready to do some upgrades, reach out to us via phone or email today so we can discuss the situation before you go through with anything that you might regret later. If you have any other real estate-related questions, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.