The team at The English Contractor frequently hear our founder, Craig Russell, explain that the home is likely a family’s biggest investment. Any time our crew gets involved, we’re helping a household grow their investment, with a feature that adds equity in use, or with an update that will help the house capture top dollar when it’s time to sell. We’ve tapped into a local expert, fellow member of The Scout Guide Cincinnati, Erin Satterwhite with Comey & Shepherd for some insight on the best updates to make to your home to maximize your investment.
Unless you’ve been living in a hole, you are aware how crazy the housing market is in Cincinnati and nationwide right now! Houses are flying off the market at a record pace at a record price. You’ve heard stories how friends had multiple offers on their homes where buyers waived inspections, appraisals, and even offered their firstborns as collateral to win a home (ok, maybe the third is an exaggeration.). So you might be wondering, is it even worthwhile updating my home when the market is this hot and buyers are this desperate?
Yes. If you want to receive top dollar for your home, even in a seller’s market as strong as this one, there are a few simple renovations you can make that will appeal to as many buyers as possible and bring in an unthinkable selling price for your home.
Kitchen
Photo: Ross Van Pelt
White on white on white. You’ve seen it on all the home shows, in the home magazines, and in your friends’ homes that you admire. Gone is the natural woodwork or dark countertops. We want it as light and bright as possible! Does this mean you need to drop 50-75k on a full kitchen makeover? No! Have those cabinets painted white, swap out the hardware for an updated look, and consider replacing your countertops with something lighter. Voila! You’ll have millennials drooling over your home.
Bathrooms
Photo: Ross Van Pelt
Bye bye, Grandma. Hollywood lighting, colored tile, and little soaps in the shape of seashells on the counter are out. While they may make you nostalgic, it’s time to update those bathrooms. Tile work can take more time but is so worthwhile to a buyer. Swap out that glued on mirror or old medicine cabinet for an updated framed mirror, update the lighting from 80’s glam to something more modern, and consider a new sink- you don’t have to spend a million dollars to update a bathroom and it will give you so much bang for your buck!
Flooring
Carpet- RIP. IT. UP. Carpet is OUT. And if you have it in a bathroom or even a kitchen (yes, if you can believe it- we’ve seen it!) rip it up immediately and set it aflame. Also, consider having your entire main living space be updated to hardwood or a even a faux wood option to bring those buyers in. If you do have carpet, save it for a bedroom! And if it’s been there for a few years and has any smell or stains, it’s time to lay down new carpet. Get a neutral gray or beige and call it a day.
Paint
Pretend this is a black and white movie. Buyers want the walls to be as neutral and light and bright as possible. You may be thinking that gray is all the rage, because it was a few years ago. But now it’s greige. Yep- a combo between gray and beige. Bold colors make buyers nervous even though it’s a simple remedy with a few strokes of a brushstroke! But, don’t turn off potential buyers with loud wallpaper and colors.
Home Office
After a year of people working from home, it’s important to feature the flexibility of your home to reflect the same. How often do you REALLY use your formal dining room>. I’m guessing it’s just where projects get piled up and it’s dusted off 1-2 times a year. Turn it into an office! Or, do you have an extra guest room? Have you REALLY had any guests in there? Put a desk in there and show the versatility of the space. Having a home office is one of the most requested items by buyers, even as the world reopens!
These simple updates will help you get the most attention on your listing and drive up that sales price! None of these projects require a ton of time, a big budget, or a big mess! And once you do them, just be prepared for a multitude of showings and your home will be the hottest home on the block!