If you’ve ever thought about selling your home before, I guarantee you’ve asked yourself these questions at one point or another: “What updates should I do before listing my home? And what updates will increase the value of my home the most?”
We all want to present the best version of our home to the market when we’re ready to sell, but what projects should we focus on? I did a little research myself but I wanted to hear from a professional so I asked Thea Velic, a real estate agent in Minneapolis Minnesota, to share her thoughts as well!
When getting a home ready to sell, what updates make the most impact on a sale and add value to the home?
1 // Paint your walls a neutral color
You’d be surprised how many people get turned off by a bold color choice. Whether it’s a blue kid’s bedroom or a red accent wall, it’s best to maintain a neutral color palette throughout the entire home for two reasons. 1) Potential buyers can better envision their furniture in your home when they’re not trying to see past a color that doesn’t blend with their style. And 2) Most people prefer not to repaint if they don’t have to. “Sherwin Williams Agreeable Grey is my go-to neutral paint color” Thea Velic shared.
2 // Replace carpet with hardwoods
Yes, a soft cushy carpet under your feet can feel nice but it’s not great for resale. According to the National Association of Realtors, 90% of home buyers prefer hardwood flooring. Carpet holds dirt and odor and is often a turn off to potential buyers. Engineered hardwoods, high quality vinyl, or real hardwoods are all great options. However, if you do plan on keeping your carpet, Thea recommends having them professionally cleaned!
3 // Refinish existing hardwood floors
Thea also recommends having your existing real hardwood floors refinished if they show scratches, dents, or discoloration. Refinishing floors is a major project that most buyers aren’t interested in doing themselves.
4 // Update Kitchen & Bathrooms
“If you’re not selling for a few years and you’re making updates now that you hope will pay off in the future when you sell, then the bulk of your money should be spent on kitchens and bathrooms. SMART updates sell homes. However, you have to be careful not to overspend. Don’t spend 50K on a kitchen upgrade if your neighborhood doesn’t support it. Painted cabinets, new counters, new sink & updated fixtures go a long way. The worst thing we can tell a seller is that we can’t get their money back on their updates.” – Thea Velic
5 // Replace dated light fixtures
“Replace dated light fixtures” Thea says. Whether it’s a boob light in the hallway or a dated ceiling fan, replace them with current styles. I love these budget friendly wall sconces and flush mounts.
6 // Keep up on general home maintenance
“The biggest one of all is keeping up on home maintenance items to ensure your home is in tip top shape for resale” Thea says.
Things like repairing water leaks in faucets or toilets, replacing air filters, and keeping a trimmed yard go a long way in ensuring your home stays in proper condition. I always recommend fixing the issue right away so the problems don’t stack up over time!
7 // Declutter and stage
STAGE YOUR HOME! You can certainly stage it yourself, but I do recommend you ask for help from someone who has a good eye for design. “Your updates should stay neutral and timeless” Thea says. Neutral walls and neutral decor are the name of the game!
According to the National Association of Realtors, staging increases the value of your home anywhere from 1-15%! Not only that, but staged homes are proven to sell anywhere from 79-87% faster than those that are not! It helps define the scale of the room and helps the buyer imagine themselves within your home.
And since you’re taking the time to stage, Thea also recommends you declutter your home! Simplify your furniture and decor and maaaybe your treadmill doesn’t need to stay in the spare bedroom? 🙂 Clutter not only suggests a dirty home, but also a lack of space and storage which is not a great combination to potential buyers. A clean and simple space makes buyers feel like they could move right in!
Thank you Thea Velic for sharing your knowledge with us today!
Thea Velic
Real Estate Agent in Minneapolis, Minnesota
Website: theavelic.kw.com
Instagram: @thea.velic
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