Archive | January, 2015

Biggest “Bang for Your Buck” with These Home Updates

Get the Biggest “Bang for Your Buck” with These Home Updates

 

We’ve had a lot of people asking us what they can do to update their older homes. Owners want to get their home ready to sell and want to make sure they can get the “biggest bang for their buck”. Of course, each person has their own taste and design, but there are colors and styles that appeal to a larger portion of the population than others, when it comes to homebuyers.

 

We are sure you have noticed all the “fix and flip” home shows on TV and Knoxville is no exception when it comes to investors flipping. With that being said, it has set a new standard for homeowners that are wanting to sale to make their own home compete with the flip houses. Now it is more important than ever to invest money and elbow grease in your home to help show its full potential.

 

When planning and budgeting for your updates, you will need to keep in mind that updates are not the only selling point you need to consider. A lot of your homes value will depend on location, the housing market, age and many other factors. You certainly don’t want to put more money in your home than you will be able to recoup and hopefully make a profit. This is when you have to find out that sweet spot in your area that packs the biggest punch to help it stand out from the other homes for sale in your neighborhood. It is also smart to get a Competitive Market Analysis (CMA). A CMA is research done on homes in your area that are for sale or have sold in the last few months to get a clear picture of the price range you can expect to sell your home for. The Knoxville housing market changes rapidly, so it is important to see what your home is worth currently.

 

Updates that get you “Bang for Your Buck”

 

  1. A fresh coat of paint in a neutral color throughout your home

Your space will feel and appear larger if you stay with a light tan throughout your home keeping the moldings and doors a white color is ideal. If you have beautiful stained trim, keep it and just freshen it up.

 

  1. Update the kitchen and bathrooms without completely replacing everything! If you splurge and get granite countertops the buyers will jump for joy. Even if you replace Formica countertops with a new, modern version that has the look of granite, is a less costly choice but a nice update.  Add coordinating glass tile backsplash and you just customized a look without breaking the bank. If the bathroom cabinets are outdated and old but still structure sound, then a good sanding and paint with a nice Espresso type color and a new counter and you will be amazed at the difference. These will definitely NOT go unnoticed by any homebuyer.

 

  1. New flooring

Flooring can be a significant investment that has a huge impression on buyers. Avoid colors that are too dark or too light, remember always a nice neutral color is the best.

 

  1. Replace brass fixtures – A nice brushed nickel or oil rubbed bronze will look much better. Lowes and Home Depot often have some fixtures on clearance which can do the trick for a reasonable price.

 

If you are unable to do all the suggested updates, just one or two will help wonders.

 

If you were planning on selling your home in the Knoxville area or still in the planning stage, give us a call at 865-218-1159.  We would be happy to provide you with a free CMA and give you some ideas on preparing for the housing market.