Faulkner: 7 most profitable home improvements before selling

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Want to touch up your home to boost the bottom line of your home sale? Here are the seven most profitable home improvements to do.

7. Small Repairs

Small repairs can play an important role in your home’s overall presentation. During an initial viewing, buyers will form their own narratives about your home.

Suppose they see dings in walls, broken baseboards, loose handrails and damaged cabinets. In that case, they will likely assume more neglect in other home areas regarding regular maintenance of significant items.

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The lack of a strong emotional connection can lead potential buyers to eliminate your home as a candidate. This underscores the importance of small repairs in helping buyers form a positive emotional bond with your home.

If the seller has limited time and budget, they could prioritize repairs of the most obvious issues seen in the first 30 seconds of a showing, when the potential buyer will often form their opinion of the home’s maintenance status.

6. Updating Hardware

New hardware can give your home a more modern feel if it is in good repair but a bit dated. Changing light fixtures, kitchen pulls and hinges, light switches and door knobs can make your home more attractive to more buyers.

When changing hardware, it is best to match the hardware throughout the home where practical. By co-ordinating your hardware, the home will have a more seamless feel and present itself best.

5. Curb Appeal

Great curb appeal can set the tone for the showing. The psychological term for this is called priming. Buyers will form an opinion of your home in the first 30 seconds. If that opinion is “this home is well-maintained and in good condition,” they will be primed to look for what is in great condition and perhaps miss places where it is not. The reverse can be true as well.

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Trimming vegetation and spray washing the steps and front of the home can significantly improve curb appeal and set the tone for showings. Touch-up painting and repairs where necessary on the front of the home can also make a big difference to your home’s desirability.

4. Flooring

Depending on the type and condition of the previous flooring, new flooring can significantly increase your home’s appeal and value.

Vinyl plank is the most likely best choice. It is waterproof, which means it can be placed in kitchens and bathrooms, affording a transition-free floor throughout the home. Having the same transition-free flooring throughout will often make your home stand out among the competition.

Choose lighter-coloured flooring. Lighter finishes will bounce the available light around your home, affording a more cheery, lively space and helping the home appear larger and more welcoming.

3. Painting

No surprise here. Fresh paint can help make your home feel new and brighten the space. As with flooring, I recommend choosing a lighter, neutral colour to make the home feel more spacious and bright. In some cases, especially in a home that has been smoked in, it can be worth painting the ceiling, as well.

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If your paint is still in good condition and has a modern colour palette, you may only need some touch-up painting.

2. Staging

Staging your home well can set you apart from the competition.

Here are your options. You could hire a professional stager for a consultation. They will give you advice and will often provide a few decor pieces to maximize your home’s presentation value.

You could stage on your own with your realtor’s suggestions.

Generally speaking, less is more when it comes to staging. Arranging furniture to increase your home’s natural flow and spaciousness can attract more and better offers.

If your home is vacant, ask your realtor to do virtual staging to better showcase your listing and attract more showings.

Many sellers will declutter on their own. If you have a limited budget, storing extra furniture and other items in a garage, basement or bedroom can be OK.

1. Cleaning

Clean homes sell for more. Thorough cleaning is probably the best and most cost-effective way to improve your home’s value to prospective buyers.

Smells can be a big put-off for buyers. Ensure cooking smells, garbage, recyclables, laundry, closets and pet litter do not create another obstacle to your best offer.

I advise against air fresheners as buyers may think the owner may be trying to hide something.

Selling a home for top dollar is best achieved when the prospective buyer has a strong emotional connection to your home. These seven home improvement suggestions can make all the difference in maximizing your home’s sale price.

Dennis Faulkner, B.A. Economics, works as a realtor at MaxWell Challenge Realty. He can be contacted to answer your real estate questions at dennis.faulkner@icloud.com

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