More Bang for your Upgrade Buck

Dated: 03/22/2012

Views: 2303

When it’s time to sell, many people start spending money before they even find out what their home is worth.  First things first, call your favorite REALTOR and find out what the top dollar is for your home, so you don’t put more in it than it will be worth.  Once you know what you’re working toward, here’s where to spend money by budget range and priority (assuming you do the work):

First $200 – Spend money outside.  If people never come inside, they will not make an offer.  Pressure wash if needed, scrape and paint windows if they aren’t vinyl, paint shutters and doors (black pops almost everywhere), place yellow flowers by the front door, freshen mulch, seed bare spots.

Next $500 to $1500 – Update inside.  PAINT WALLS that are smudged or outdated colors.  Neutral colors are best.  Flat paints don’t wear well, but they cost less, cover imperfections, and show immaculately when fresh.  Replace drawer pulls and faucets if finish is outdated.  Update light fixtures and fans.  If money is really tight, most light fixtures and drawer pulls can be updated with a can of hammer metal spray paint.  Walk the aisles at Lowe’s to see what’s in style at the moment.  Call me for a 10% off coupon!

Next $2500 to $5000 – Update floor coverings, if needed.

Next $5000 to $10,000 – Update the master bath, as luxuriously as you can, then move on to kitchen and other baths.  Kitchens and baths sell homes.  Hardwood floors and granite countertops give that WOW many buyers want.

>$15,000 – PLEASE make sure you know what you’re spending.  It’s rare that a liveable home needs $15,000 spent to prepare for sale.  If it really does, you may be better off discounting than upgrading.

Also, remember this is a guide for upgrades.  If your home needs maintenance or repairs, such as a new roof or HVAC, these are absolute top priority above almost everything listed above.  When it’s time to move, click “Our Agents” above and find me!

Blog author image

Carolann Newton

I was a domestic paralegal for 8 years prior to Real Estate. Since I have been in Real Estate I have grown to love this business, even though it does have it's challenges; it is very exciting. There i....

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