If you plan to remodel or update before selling your home, you’ll want to find the balance between what’s appropriate and what qualifies as under- or over-improvement.
If you’re in a midrange neighborhood and install granite countertops, you’re unlikely to recoup your costs. But if you’re in a higher-end community, laminate surfaces may be too little, too late, resulting in a lower sales price.
So, what will always work?
Painting — inside or out — is one of the most affordable ways to increase your resale value. If you’ve got wood floors underneath carpeting, show them off. Old light fixtures in the kitchen, bath and hallways can be updated to more current styles with stainless steel or brushed nickel finishes. Be sure to make a good first impression outdoors with a maintained yard and perhaps freshly planted flowers, a new mailbox, doorknobs, house numbers — you get the picture!
Before you plan your updates, visit some open houses or new home communities and look in magazines where you can see the latest styles and update your home’s features accordingly. And it’s best to keep your improvements clean, neutral and timeless.
Try not to be the last one on your block to remodel or update. Buyers will pass your listing over for one up the street that’s already been updated. Improve your chances for a quicker sale at a higher price by discussing with your Realtor which upgrades provide the greatest return.
Money spent on the right improvements is money well spent.
— Paul Suding, a real estate agent with Cool Santa Barbara Homes and Village Properties, is president of the Santa Barbara Association of Realtors. He can be contacted at paul@villagesite.com or 805.455.8055.