It is well known that homes that show well sell well. In order to get “highest and best,” your listing needs to sparkle. This can often mean executing key upgrades prior to listing the home so that it’s rock-star, show-ready right out of the gate. As such, be prepared to guide your sellers along the upgrade path to achieve the best sales price in the quickest timeframe. That being said, experienced agents also know that not all home upgrades are created equal. This is especially true when it comes to cost and time, both of which are critical factors. Following are easy ways to sell for more with these 8 key home upgrades:
1) MONEY IN A BUCKET – PAINT: $200 – $8000
A fresh coat of paint is, as they say, money in a bucket. It’s also the easiest and least expensive way to up the value of a home. Curb appeal is of utmost importance because it gets people in the door. An exterior paint job, including dry rot repairs, will add thousands of dollars to the sales price. There is nothing that brings a sales price down more than an overall appearance of deferred maintenance and neglect. A good, updated exterior paint job will fix that. Of primary importance is the front porch or entry area. If your sellers don’t have the time or money to repaint the entire exterior, then make sure the porch and entry area shine. At the least, the entry area should be freshly painted and cleared of spider webs, dead bugs, dirt and debris. Make sure the front door is also freshly painted, preferably in a popular color that complements the rest of the house’s colors. Add potted plants, flowers or a door wreath to make things look ultra inviting. And don’t forget a fresh door mat.
Once you get buyers through the front door, a fresh coat of paint in key rooms like the entry area, kitchen, bathrooms and master bedroom will continue to set the stage for a home that will be taken seriously. Make sure all this is done prior to professional photography for MLS submission. The most important caveat? Make sure your sellers select colors that will appeal to a wide population of buyers – namely, neutrals and colors that aren’t too “out there.” Now is not the time for a purple door or a turquoise wall.
2) BACKSPLASH: $200 – $1000
This easy, inexpensive home upgrade is often overlooked. Don’t miss this one! A freshly cleaned and newly caulked backsplash can make a world of difference in the perception of good home maintenance. If needed, replace the backsplash altogether – on average, about $1000. If this is a DIY for your sellers, just make sure the job is done well. As with all upgrades, they must look professional or else they could do more harm than good.
3) WINDOWS: $200 – $1800/Window
If the home is older, and your sellers have the budget and time, consider replacing older windows with newer ones. According to Remodeling Magazine’s 2023 Cost vs. Value Report, replacing old windows with new vinyl windows can recoup as much as 68.5% of your expense. If time and money are issues, then do the next best thing which is to have all windows squeaky clean, touched up with paint, and lubricated so they slide and open easily. Clean, clear, easy-to-work windows – even if older – will transform a home and reflect well on the overall maintenance.
4) CABINETS: $12,000 (Medium Sized Kitchen)
Good looking kitchen cabinets are key for selling a home for top dollar. That doesn’t mean they need to be new, however. Replacing just the cabinet faces with a Shaker style as part of a midrange kitchen remodel can fetch 85.7% of the cost when it comes time to sell. Having cabinets professionally repainted is about $5000. Another great way to freshen kitchen cabinets which costs nothing but elbow grease is with a good deep cleaning. If the cabinets are all natural wood, consider a cleaning followed by a light oiling or wood conditioner. This will make wood cabinets look almost new again. For the final touch, update all the cabinet hardware to update their look and add some visual pop. And encourage sellers to clean and organize inside the cabinets as well.
5) FIREPLACES: $500 – $2000 (repair or new electric model)
Homes with fireplaces sell for more. According to Redfin data, homes with fireplaces listed for 13% more than the national median sales price and sold, on average, for 99.9% of their asking price in 2021. If the home comes with a fireplace, make sure it’s clean and functional. Consider replacing the front glass pieces. Add a “bouquet” of ready to go wood as visual decor. White birchwood logs bound with twine or bundled drift wood will add an attractive visual pop to the fireplace, which is typically the centerpiece of the living room. If the home doesn’t come with a fireplace, considering adding one of the many beautiful electric fireplaces now on the market. Many of them come inserted into attractive mantels, in an array of styles with various flame and heat options.
6) LANDSCAPING: $500 – $3000
Encourage your sellers to invest in some quick landscaping, if needed. The yard should look tidy and maintained, with flowers placed in strategic areas to give inviting pops of color. Weeds and overgrown bushes should not be a thing. Walkways should be easy to access and safe and secure for walking. Consider adding a bird bath or fountain. Backyards will benefit from a barbeque area with outdoor seating and tables, fireplaces, water features and strung lighting. All of this creates the feeling of a cozy backyard retreat. Remember that what’s being bought isn’t just a house; rather, what’s being promised is a protective family shelter and a peaceful haven from the outside world.
7) DEEP CLEANING/DECLUTTERING/STAGING: $0 – $5000
Least expensive but most important is that the house be deep cleaned and decluttered. Floors should be vacuumed, mopped and polished; cabinets should be wiped down from top to bottom; refrigerators, stoves, ranges, sinks, toilets, surfaces – all should sparkle with cleanliness. Shutters and windows should be thoroughly cleaned. Baseboards and staircases should be wiped and polished. The home should have a clean, pleasant smell upon entry. Turn lights on, open shutters and shades, and remove all personal clutter. Go the extra mile and strategically stage the home with furniture, plants, carpets and art (no cost if sellers have suitable pieces they can curate to stage; otherwise, professional staging generally rings in at about $5000 but is money well spent).
8) OFFER A HOME WARRANTY: $475 – $850
Homes that sell with a home warranty sell 15% quicker and for 2.2% more. In addition, there are numerous protections in place for you as the agent, your sellers, and the buyers. A home warranty is a great buffer for unexpected expenses that occur after the sale. There is even a home warranty that will protect your seller during the listing phase, up your E&O protection and protect the seller against lawsuits after close of escrow (see the CRES Advantage Plan). In addition, there are numerous handy features that the new owners will appreciate having, like the ReKey service that comes standard with all Fidelity National Home Warranty Plans. Plus other options like hot water heater, dishwasher, refrigerator, range, stove and HVAC, to name a few. The real beauty of a home warranty is that long after closing it protects your business, your reputation and keeps your phone from ringing with unhappy clients on the other end. It’s a proven win-win for all involved and ensures peace of mind.