In the excitement and haste of renovating and selling your property it can be easy to over value your output and to simply put the wrong dollars behind the projects which don’t offer you much return on the input.
If you are looking at entering the selling market and want to put your house up for sale, it is a good idea to do a little bit of homework first and find out what you are truly up against.
When I do a market analysis I generally look for similar homes in corresponding neighbourhoods to determine the value of the subject property.
When looking at listing your home, first check and see what else is for sale in your neighbourhood. Further investigation will allow you to look inside some of these homes on the MLS listing and it will help you see what kind of shape these places are in.
If you are amongst six bungalows for sale in your neighbourhood, make note of what they offer and do not offer and try to highlight that part of your property which offers unique features.
If you find that most homes in your immediate competition offer the same interior finishes (from the same era) you might consider making your home stand out with a snazzy new paint colour or freshly done kitchen or bathroom.
These two rooms SELL the properties and if they are up to snuff, then comparable properties quickly fade into the distance in the glowing light of your upgraded house but be careful to gently spend your dollars to gain the maximum return on your investment.
This is where an interior designer may benefit you. A few hours for a consultation is money well spent when you consider the invaluable information they can offer. I can create anything from a $500 fix on your kitchen to a full $40k gut job depending on where you are at.
It is surprisingly easy to dab a little paint or accent a bit of tile to create a gorgeous kitchen to wow potential buyers. I am also able to guide you to where the best use of your dollars can be spent and where to focus your renovation dollars.
A few thousand in upgrades before you list your home may save you tens of thousands in price reductions at a later date.
Your bathroom may be dated but it may only require a few changes to bring it into the present day.
It is often less work than people think to splash and dash a bathroom to make it beautiful for the next owners. Years ago it was simple to put a house on the market and to have it sell quickly but now buyers are being more careful with their purchases and if your house is going to stand out from the crowd you need to make it the prettiest girl at the prom.
Houses are still selling but it’s the ones which stand out and have unique features and updates interiors which are leading the pack. Your home has the potential to shine too!
Kim Wyse is a local freelance designer. Find her on facebook at ‘Ask a Designer’.