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What to Update When Selling Your Home
(and what not to!)
In the dynamic world of real estate, preparing your home for sale is a nuanced process, a careful intertwining of preserving your home's charm while aligning it with current trends and buyer preferences. Determining what to update and what to maintain requires a delicate balance. Not only does that balance play a key role in attracting the most amount of buyers, but when done right, it'll save you more money in the long run. It requires an understanding of today's market dynamics, buyer expectations, and a respect for your home's intrinsic character. In this guide, we delve into the current real estate trends and highlight the design features that make a home appealing to potential buyers.
Current Real Estate Trends
A home isn't just a physical structure; it's a reflection of the era, the evolving lifestyles, and the values that we hold dear. Keeping a pulse on current trends allows you to align your home with potential buyers' aspirations and needs.
Sustainability: As society becomes more conscious of our collective environmental footprint, sustainable homes are being viewed as the new luxury. Whether it's energy-efficient appliances or water-saving fixtures, eco-friendliness can be a major selling point. Be sure to point out these features to your agent so they can include it in their marketing strategy.
Smart Homes: In our connected world, integrated smart home technologies provide safety, convenience, and a sense of modern living that is increasingly in demand. Keep in mind that once these technologies are installed, they now typically become a permanent fixture to your home and is expected to convey to the new owner. So if you're attached to your Ring doorbell and plan to take it with you, be prepared to replace it with a standard doorbell before listing or disclose to your agent that it doesn't remain with the home.
Flexible Spaces: With remote work and learning becoming prevalent, homes that accommodate these lifestyle changes are highly appealing. Designated office or study areas can add significant value. If you have a formal front living room, as many older homes do, this is a great space to stage as a home office with a simple desk and chair and complimenting decor. This is why new construction model homes are always decorated to the nines. Buyers have a harder time envisioning the space as how they'd use it if you're traditional furniture is still there. They go from saying, "Oh, but there's no office" to "It's great that this room is flexible and could be used as an office since it doesn't have a formal office."
Outdoor Living: A refuge from the confines of indoor life, vibrant outdoor spaces provide a private oasis and connection with nature, making them highly desirable to today's buyers. Keep it simple, with clean lines. Remember, not all bright colors or patterns photograph well. Your online listing is the first impression a buyer gets to determine if they want to make the time to come tour your property. Pack away the yard tools, pool equipment and cluttered potted plants. Minimize and aim for aesthetic line sights, even if it's not how you would use the space every day.
Design Updates to Make Your Home Irresistible
As a seller, updating key design elements in your home can not only enhance its aesthetics but also boost its market appeal. The goal is to appeal to the most amount of buyers that would be looking at your home. Understanding the target buyer is an important element of your marketing strategy. If you proactively consult with your real estate agent, they can help you make purposeful decisions when it comes to what today's buyer is looking for in your particular style home and market.
- Flooring: Opt for natural, durable, and low-maintenance flooring options. Hardwood, luxury vinyl, or ceramic tiles offer both functionality and timeless appeal. True hardwoods can be sanded and stained to provide an updated and new finish. Luxury vinyl plank (LVP) has the benefit of water resistance, making it a fantastic choice for a property that may be positioned as an investment home. Luxury vinyl tile (LVT) is an alternative to ceramic tile. While ceramic will tend to have a longer lifespan, LVT is more cost effective, making it a great option if you're updating the property to sell rather than to keep. When choosing a color for floors, don't select anything too "trendy" like gray floors and don't select anything that has too much color variation. Keep in mind that laminate, engineered wood and LVP, will vary per plank. Too much color variation in the pattern will be too contrasting in your listing photos.
- Paint: Neutral shades like off-white, light taupe, the popular greige, or light gray act as a blank canvas, helping potential buyers visualize the space with their belongings. This is one of the top things to do for your home that will have a big impact in the eyes of the buyer. Again, it's not about if it's your color of choice. The goal is to sell to a buyer, so if your agent does their job correctly, you won't be living in it anyway! Touching up baseboards and door trim will also give the home a fresh, clean feel.
- Countertops: Practical, stylish, and durable countertops are in demand. Consider materials like quartz, granite, or marble to give kitchens and bathrooms a touch of elegance. Like flooring, stick to something that's fairly neutral.
- Lighting: Balanced, energy-efficient lighting that combines ambient, task, and accent lights enhances the home's color palette and mood. For rooms that don't have overhead lighting, smart placements of floor or desk lamps make all the difference. Make sure all of your bulbs are the same color tone and wattage. If your home gets better natural light during certain hours of the day, communicate that with your agent to plan your listing photo time appropriately.
- Fixtures and Finishes: Opt for modern, minimalistic finishes like brushed gold, oil-rubbed bronze or matte black for hardware, faucets, and door handles, which add a subtle touch of sophistication to your home. The shiny brass fixtures and hardware is a sure way to make the home feel dated. When updating one room, be sure to consider how it'll flow with adjacent rooms.
- Paint: Neutral shades like off-white (SW City Loft is real popular right now), light taupe, the popular greige (Agreeable Gray is still in!), or light gray act as a blank canvas, helping potential buyers visualize the space with their belongings. This is one of the top things to do for your home that will have a big impact in the eyes of the buyer. Again, it's not about if it's your color of choice. The goal is to sell to a buyer, so if your agent does their job correctly, you won't be living in it anyway! Touching up baseboards and door trim will also give the home a fresh, clean feel.
- Countertops: Practical, stylish, and durable countertops are in demand. Consider materials like quartz, granite, or marble to give kitchens and bathrooms a touch of elegance. Like flooring, stick to something that's fairly neutral.
- Lighting: Balanced, energy-efficient lighting that combines ambient, task, and accent lights enhances the home's color palette and mood. For rooms that don't have overhead lighting, smart placements of floor or desk lamps make all the difference. Make sure all of your bulbs are the same color tone and wattage. If your home gets better natural light during certain hours of the day, communicate that with your agent to plan your listing photo time appropriately.
- Fixtures and Finishes: Opt for modern, minimalistic finishes like brushed gold, oil-rubbed bronze or matte black for hardware, faucets, and door handles, which add a subtle touch of sophistication to your home. The shiny brass fixtures and hardware is a sure way to make the home feel dated. When updating one room, be sure to consider how it'll flow with adjacent rooms.
Upgrades to Approach with Caution
While updates can certainly boost appeal, it's important to be mindful of over-investing or over-personalizing.
- Over-Personalization: Overly personalized décor or eccentric colors can make it hard for buyers to envision themselves in your home. It's best to stick to a universally appealing palette and style. Installing exotic flooring or counters is only a good idea if you're planning to stay living in the home. It'd be very disappointing to invest in that just for the buyers' feedback to still be that they will need to update those things because they don't compliment their style.
- Out-of-Sync Luxury Upgrades: High-end additions might not add value if they're out of place in your neighborhood. Align your upgrades with the overall aesthetics and standards of your locality. Additionally, if those features are fairly standard in your neighborhood, don't expect buyers to see extra value in them for just your home.
- Extensive Renovations with Low ROI: Not every renovation guarantees a high return on investment. Focus on those that do, like kitchen updates or the addition of flexible living spaces. Routine maintenance mechanicals that are expected to be replaced don't bring extra value to the home, but certainly is a consideration for buyers when thinking about longer term value for the price.
Embarking on the journey of selling your home is an experience filled with important decisions. Each choice you make, each update you consider, allows your home to retain its inherent charm while introducing elements that resonate with today's market trends. In doing so, you create a space that gracefully bids farewell to the past while warmly welcoming potential new owners. The home you cherished evolves into a property ready to start a new chapter with its next inhabitants. So as you move forward in this process, remember to appreciate the rich history of your home, while enthusiastically embracing the transformations that will make it ready for its future. Having the right consultant on your side can assist in making the process smoother and more cost effective. After all, we are looking at and touring homes every day!
Before You Get Started, Discover The Potential Return On Investment For Your Renovation!
Free Real Estate Book Reveals...
- Upgrading Advice
- Design Tips
- Curb Appeal Tips
- Selling Strategies
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