Are you considering selling your home in Kansas City? If so, you might be thinking about making a few repairs and upgrades before you list it. Some changes can be lucrative, paying off in the long run. However, not all upgrades are created equal. We will let you know which upgrades to avoid!
Improving the appeal of your property is a strategic way to attract more potential buyers. However, it’s essential to avoid over-improving or enhancing elements that may not increase the property’s value. Certain upgrades could even deter buyers instead of attracting them. Before starting any renovation projects or visiting a home improvement store, prioritize necessary repairs and only consider upgrades that provide a substantial return on investment, ultimately enhancing your home’s value.
Don’t Add a Pool Unless YOU are Swimming In It
Adding a pool to your home does not necessarily increase its resale value. In fact, the cost of the pool may not directly translate to a higher asking price. We’ve witnessed cases where homeowners invested over 50k in a new pool, only to see minimal returns when selling. Unless you plan to enjoy the pool personally for an extended period, it may end up being a costly addition rather than a profitable one. Bottom line: Pools typically do not yield returns.
Don’t Get So Personal
Steer clear of excessively personalized designs, such as highly customized kitchens, bathrooms, or any other features that may be considered unique. Opt for more neutral environments by toning down bold color choices. Remember, a fresh coat of paint is a more budget-friendly option compared to a complete room renovation. And speaking of renovations…
Let Your Buyers Decide for Themselves
If there are noticeable repairs or upgrades required, consider offering a credit to the buyer instead of making the changes. This allows the buyer to customize the home according to their preferences, which can be a strong incentive. The opportunity to choose their own countertops and lighting fixtures can be very appealing to potential buyers. Remember, avoid making upgrades based on your personal taste; focus on what will benefit the buyer.
Leave the Basement Alone
Are you a homeowner in Kansas City with an unfinished basement? If so, consider leaving it as is. The expenses associated with finishing the basement may not yield a significant return on investment. Additionally, prospective buyers often prefer to customize these spaces according to their preferences. If you have not renovated the basement during your occupancy, there may be no need to do so now that you are selling. In essence, an unfinished basement is often more appealing.
Make the Space Intentional
Keep the rooms as they were intended. Extra bedroom? Keep it a bedroom, not an office. Let the prospective buyers decide how they want to use the space. A room conversion will only knock down the perceived value. A 4-bedroom, 2-bathroom home will get more traction than a 3-bedroom, 2-bathroom + den at the same price. Also, a gym/office/library/breakfast nook can become confusing. Point blank: Plan your space with purpose.
What’s Happening in the Neighborhood?
When upgrading your property, consider the market trends in Kansas City. Ensure your renovations are in line with the neighborhood average to attract a wider range of buyers. Over-improving can limit your potential buyer pool to high-end purchasers, potentially alienating those interested in your area but not looking to pay a premium. Strive to keep your property competitive without overstretching!