Updates to a home can improve resale value and result in a significant return on investment (ROI). However, what is profitable in one area may not carry the same value elsewhere. Understanding potential buyers, the local market and consulting with a real estate agent are the keys to getting what you want now, as well as the best price later.
“In a competitive real estate market, small updates like painting and carpet replacement can give your home an edge over similar properties in the area,” explains Nancy Platek, real estate agent at Cutler Real Estate.
Strategic planning can help homeowners get the best price for their dwelling.
“Painting a neutral color throughout allows buyers to envision their belongings in the home,” says Meredith Bailey, real estate agent with Cutler Real Estate. “If a home has carpet, we recommend having it cleaned prior to a showing. A clean home makes a huge difference.”
Kitchens and bathroom remodels are generally known to deliver higher returns. Investing in HVAC and energy-efficient windows can attract eco-friendly buyers and reduce future energy costs. Also, updating outdoor living spaces, like adding a new deck or patio, adds value and curb appeal.
“When my clients talk about renovating, I suggest leaving a bathtub in the owner’s suite, even if it’s just one in the home for resale. Freestanding bathtubs are the trend, and there are numerous styles to choose from that look beautiful,” explains Ruthanne Wilkof, real estate agent with DeHoff Realtors.
However, some projects may not be cost-effective. Avoid high-end luxury improvements that can potentially drive home prices up. Highly personalized options may not have broad appeal. Elaborate landscape designs can be time-consuming and expensive, and potential buyers may not see the value. Swimming pools can be considered a liability.
Cutler Real Estate
“What comes around goes around,” Meredith says. “Popular opinion indicates the gray and white trend is coming to an end in favor of warmer colors and wood. I don’t think that means golden oak is coming back, but definitely other wood tones are.
In bathroom trends, big jetted tubs are out. Buyers prefer a walk-in shower in the primary bath and maybe a soaker tub. They like a spa-like retreat and with plenty of storage. It is important to have at least one bathtub in the house.
330.495.7430, MBailey@CutlerHomes.com, BaileyPlatekGroup.CutlerHomes.com
Cutler Real Estate
When it comes to buying, Nancy says the most important aspect to consider is whether it suits your individual lifestyle and needs.
“While market trends and resale value are important considerations, finding a home that aligns with your lifestyle, preferences and specific requirements is essential for long-term satisfaction and enjoyment,” Nancy explains. “A few key factors to consider are size and layout, location or special requirements for features such as a home office, dedicated play area for children, pet-friendly environment or accessibility features if necessary.”
330.323.6023, NPlatek@CutlerHomes.com, BaileyPlatekGroup.CutlerHomes.com
The kitchen is one of the first rooms a buyer sees when entering the home, and first impressions last. Buyers today want move-in ready homes with little to no work prior to getting the keys.
“The majority of buyers are looking for a home that is updated with current kitchen trends, i.e., granite or quartz countertops,” Ruthanne says. “Eat-in kitchens are important to buyers and spaces where families gather. A large open kitchen with up-to-date appliances and spacious counters is a major selling point for buyers, too.”
330.324.0573, RWilkof@DeHoff.com, RWilkof.DeHoff.com