Should You Upgrade Your Home Now or Right Before You Sell?
Home sellers are often told to make upgrades to their house before they sell. But in terms of scoring the best ROI, when is the best time to get those home improvements underway?
It can be a tough balance to strike. After all, the sooner you remodel your kitchen or retile the bathroom, the more you’ll get to enjoy it for yourself. But if you make those improvements too long before you sell, you risk them looking run-down and outdated by the time you want to market your home. So, when is the right time to upgrade your home?
If you’ve been asking these questions, we can end your misery - in a good way! Here’s how far in advance of listing your home you should do certain home improvements, so they’ll still look fresh enough to get top dollar.
7 to 10 Years Out
Well, you’re quite a planner, aren’t you? That’s cool…we’ll play the long game with you. Here are upgrades you can safely undertake when you still have significant time until your sale.
1. Redo Your Landscaping
This is truly one of the few housing projects that gets better with age, since shrubs and trees only improve as they mature. And, bonus: It’s likely that it will never look dated. However, think twice about unique or difficult-to-maintain items if you are concerned with resale value - things like a meditation nook, bocce ball court, or koi pond.
Many people aren’t willing to invest the time, energy, or finances to maintain areas that are not common, so make sure your additions are relatively mainstream and user-friendly.
2. Update Your Garage Door
Updating your garage door is the top upgrade you can make in terms of return on investment.
“Curb appeal is key when you’re getting ready to sell your home, and garage doors can dramatically improve the look of your home,” says Matt Edstrom of GoodLife Home Loans. Garage doors can last for up to 40 years, so this is an update you can enjoy right now, without worrying about taking a depreciation hit.
3. Replace Your Roof
If your roof is more than 20 years old and you plan on selling, you may want to replace it, suggests Taylor Willson, owner of Willson Home Inspection Inc. For one thing, you may receive immediate savings from your insurance company, he says, and beyond that, “A newer roof is a great selling point.” Nowadays, it’s recommended to choose a hardy material, like concrete tiles or asphalt shingles, that have a long useful life.
4. Keep up on Repairs
Repairs should have a permanent spot on your “To Do” list. If it’s broke, then, yes, fix it. Don’t put off repairs, because they help to retain your home’s value, and can keep a small problem from becoming a larger issue.
5 Years Out
This is a good time to start thinking about big-ticket items that will affect your resale and that you won’t want to pay for all at once. Here are some to consider:
1. Replace Major Systems
Things like HVAC systems, plumbing - basically anything whose average life expectancy is relatively long, and where you want your listing to showcase that these major systems are less than five years old. Replacing them now allows you to enjoy the improved operation and potential energy savings, while avoiding a concession in the sale price when the time comes.
2. Check on Anything with a Warranty
This is also a good time to do a check on any items that have a current warranty - such as windows and appliances - while they’re still covered.
3. Switch Out Your Front Door
Another important element of “curb appeal” is your front door. A front door can really make your house pop, not to mention, increase your energy efficiency. Front doors can last for decades, but they are also exposed to the elements. This is a good time frame to allow you to enjoy the aesthetics and energy savings, without running the risk that it will look too weathered by the time you list your home.
2 Years Out
Two years is nothing in a home’s history, so it’s time to really start getting serious. Here’s what to do to start prepping for a relatively imminent sale:
1. Renovate the Kitchen or Bathroom
This can be subjective, but you’re probably safe doing an overhaul in this time frame if you are hoping to get some personal enjoyment out of your updates. Make sure you pick your decor carefully to avoid being stuck with a dated upgrade.
A ‘trend’ is something that’s predicted to last roughly 10 years. So a safe bet is to find a look that’s been on the upswing for about two to three years. This will ensure your remodel will look relevant for a while, rather than something that is dated and nearing its expiration date.
When in doubt, seek the opinion of your local real estate agent, who can steer you to cost-effective updates that will increase the value of your home without over-improving it. Another thing, beware of DIY.
If you don’t have extensive prior experience, hiring a professional is going to be cheaper in the long run, plus a DIY look can often be unappealing to a potential buyer.
2. Get Organized
This is a good time to start cleaning out storage areas, closets, cabinets, the garage, the attic - basically any place you have an accumulation of “stuff.” Plus, taking the time now will get this time-consuming project out of the way and you will be better prepared when it’s time to move.
3. Get a Home Inspection
Very few sellers do this, but it’s a good idea to have your home professionally inspected before you list it, so you won’t run into any surprises when selling time rolls around. It is always less expensive to repair items before your house goes into contract.
1 Year or Less
It’s crunch time…and now is the time to attend to all the high-traffic areas, as well as make improvements that will freshen up your listing.
1. Redo Flooring
Pets and kids can scratch up your floors quickly, so wait as long as you can before refinishing floors or getting new flooring. Replace carpet, too, especially if it’s dingy or has pet odors and stains.
2. Roll on a Fresh Coat of Paint
Walls get nicked and dinged up constantly, so painting right before putting your house on the market can really freshen it up and make it sparkle. It’s also a quick job that you can get done in a week or two.
3. Replace all Your Accessory Items
Things like bedding, throw pillows, chair cushions, patio furniture, shower curtains, plumbing fixtures, cabinet pulls - all the embellishments that provide the “lipstick” for the foundational elements. You can shop sales and switch out everything you can for a fresh and updated look.
We hope this has been helpful and given you some insight and even eased any anxiety you may have had about what things you should get done and when if you’re wanting to get the most out of your home, but possibly also enjoy some of the updates prior to selling. If you still have questions and/or you’re thinking of listing your property, or if you don’t own a home, condo or townhouse, and you’re interested in buying, let me know so I can help walk you through the process and current market conditions. I also have several resources and referrals from my many years of success in the industry that can assist you on this journey too. As a 12 year, Five Star Professional Real Estate Agent, knowing that no matter what is happening in the economy and interest rates, you need an exceptional real estate broker on your team…and you’ll be in great hands with my team and me!
Please reach out, I’m here to assist and help you “move forward,”
Teresa Catania, Broker
West + Main Homes Oregon
Bend Oregon | Central Oregon | Portland Oregon
503-740-3293
teresa@teresacatania.com