When you're selling a home, you want it to be attractive to prospective buyers. For many sellers, this means taking on renovations. You want these home improvements to add up to profit when it comes time to sell. Otherwise, you're just throwing money down the drain. Check out these home improvements to learn what helps attract buyers and what's a lost cause.
Helpful
1. Tidy up your kitchen: You probably don't need to renovate your entire kitchen to add value to your home; it’s enough to make strategic improvements. It makes sense to replace fixtures and appliances that are old or broken, but don't spend too much money on items that won't appeal to a broad audience. 
2. Beautify your bathroom: If your home has just one bathroom, consider adding a new one when you’re planning to sell. Give your existing bathrooms a new look by replacing faded tiles and rusted faucets. If you cannot afford a complete bathroom makeover, scrub your fixtures and tiles until they shine like new. Be sure to remove personal paraphernalia when showing your bathroom to buyers and agents.
3. Perk up the paint: One surefire way to make your home look brand new is to give it a fresh coat of paint on the inside and outside. Wash the grime off before you start on the paint work and keep your choice of colors neutral so that most people will be attracted to them.
4. Work on your windows: Replacing your windows, whether vinyl or wood, will add more appeal to your home when you’re planning to sell it.
5. Step up the curb appeal: Potential buyers are more attracted to your house if the exterior is neat and uncluttered. Clean up your lawn, trim your shrubs, rake dead leaves away, and re-seal your driveway.
6. Add air conditioning: Most buyers take it for granted that all homes come with central air conditioning systems. Installing one makes perfect sense when you wish to raise your home’s value. If your present system is outdated, consider upgrading it; your prospective buyers will appreciate the savings on energy bills.
7. Sort out those spaces: Many homes look smaller than they are because of clutter and unnecessary furniture. When you're selling, you want your home to look as large as possible. Make it appear bigger by removing excess furniture and knick-knacks. If your rooms are too small, consider taking down a wall to make a larger space. Make sure that the wall you tear down is not a supporting structure. If your home does not have a garage, see if you can convert a part of your garden or lawn into one without incurring too much expense.
8. Build into your basement: If you have empty, open areas like a basement, attic or loft, clear out the rubbish you store in there and consider turning them into utility rooms. If your home does not have enough bedrooms, create one, or better still, leave the space clean and freshly painted so that the new owners can turn it into their own personal space.
9. Put on a patio: Add a patio or deck to the space outside your home. Any place you can relax outdoors certainly adds more appeal and value to your home.
10. Stretch those stories: If your home is too small, but you still want to expand, try going up. Consult architects to find out if adding a floor will work out for you.
Hurtful
1. Removing relics: Don't get rid of things just because they're old. Many buyers appreciate original home fixtures like fireplaces and antique bathtubs. Retain the charm of the house by keeping these relics around.
2. A face-lift for your floor: Floor replacement is not always the most sensible of ideas. Often, buyers have their own plans for flooring, so they may want to change the new hardwood you've just invested so much money on. As an alternative, you can offer a flooring allowance that will enable buyers to do what they please.
3. Building more fireplaces: Just because a fireplace looks good in one room doesn't mean you need to add one to every other room. Most buyers are not looking for a fireplace in every room, and will not be willing to pay more just because they exist.
4. A swimming pool: While pools are useful when you throw a party or need to relax, they are high maintenance and do not add value when you’re looking to sell your home, especially if you live in a neighborhood where no one else has a pool.
5. Banking on a bar: Home bars are a personal preference that not all potential buyers will appreciate. It’s a bad idea to spend money on installing a bar just to make your place more lounge-worthy.
6. A Jacuzzi: Jacuzzis and hot tubs are not for everyone. You may see that fancy built-in MP3 player, radio or aromatherapy fixture as a valuable improvement, but most others would be reluctant to pay more for such trivialities.
7. Taking on technology: Before you splurge on the latest in elevators, home theater systems and stereo systems than echo all through the house, stop and work out the costs involved. Most technology is soon outdated, and you don’t want to be left holding the bill for something that the next owners do not appreciate.
8. Forget the fancy fittings: If you want to sell fast and at a good price, don't bother with personalized fixtures. Fitting your home with fancy aquariums or customized rooms and cages for pets is not the way to raise your home’s value.
9. Replacing the roof: Roofing is expensive and not a large focus for home buyers. Unless your roof is in need of repair, replacing it will not bring in any extra money when you sell your house.
10. Go easy on your garden: All you need to do to your garden is keep it neat and well-maintained. Forget the decorative fountains, elaborate sculptures and ornamental birdhouses and let the greenery speak for itself.
I am currently in the process of putting my existing house on the market and buying a new one. It is always a good idea to realize what potential buyers may be looking for, not just your own personal taste. With that said, how much upgrading is too much? My husband and I are contemplating what upgrades are necessary and what are not. The problem is that we might be capped out for our neighborhood and might not get the money back. Is it worth doing or should we just do what is minimal to sell the house?
Posted by: Rachel | March 26, 2008 at 06:47 AM