Six ways to help ensure pre-sale home improvements will pay you back
When it comes to selling, if you want to appeal to the most buyers and achieve the best price, taking the time to prepare your property before marketing can pay huge dividends.
However, spending too much on improving your home simply to sell it can be a real mistake and you may not get back what you spend out.
Kitchens and bathrooms can often be two of the most common areas to overspend and depending on the size of your property, you could easily spend tens of thousands of pounds more than you need to.
As experienced agents, we can assure you that a modest budget can still deliver the maximum value when it’s time to sell.
Let’s start by addressing a basic rule of engagement. Whether you’re selling a larger family house or smaller home, you need to attract a broad range of potential buyers.
Investing in high end fixtures, fittings and finishes can sometimes alienate many buyers. Why? Because you’ll want the costs baked-in to your asking price and if you don’t then the chances are that you’ll be taking a loss on those improvements.
Of course, every scenario is going to be different. But here are six tips to help you think carefully about any renovations you might undertake before putting your home on the market:
1. Call us!
Ask for an appraisal of your home before you start the renovation work. With decades of experience helping home sellers maximise their sale price, we know what buyers are looking for. Ask about buyer preferences and the improvements that might command a price premium. If you don’t, you could be splashing the cash without understanding the market. We can also suggest areas where you might curb spending or leave alone because it won’t add value.
2. Don’t overdo the DIY
It’s tempting to save money by completing the work yourself. But unless you’re a professional, the finish might not be optimal. That’ll alienate some potential buyers and may negatively affect any price negotiation.
3. Don’t aim too high
Avoid trying to capture the top-end of the market. This will limit the number of potential buyers. Aim your renovations towards the mid-market, where you’ll find the most buyers willing to pay a competitive asking price.
4. Forget top-of-the-range finishes
Remember, you won’t be living in your home for much longer, so you’ll never get the benefit and enjoyment of these luxuries. And unfortunately, the market may not value them as much as you do. So, stay conservative with your spending to achieve a positive financial result.
5. It’s not just kerb appeal
Don’t get us wrong, kerb appeal is very important and often simple cosmetic upgrades at the front of the property can help set the tone. But inside, you can make a big impression with little touches, such as updating door handles, light switches and fittings. Often simply introducing bright neutral colours is enough, this is especially important in smaller spaces, or in an apartment.
6. Fix any problems
If something needs attention, fix it before you sell. We do recognise that for some home sellers finding a tradesperson can be a problem in itself. Who do you choose? Are they reliable and are they available? How much will they cost and what’s the disruption that will be caused? As one of the leading letting agents in the area, we work with a whole range of professional contractors who we would be happy to recommend.
If you are looking to sell and want to appeal to the widest pool of buyers and give yourself the best chance of achieving the best price, call us for a pre-marketing appraisal on 01392 427500 or email property@wilkinsongrant.co.uk
