The Top 3 Renovations to Do Before Selling a House

Posted On Thursday, 29 July 2021 20:35

If you or your client is planning on selling a home, you’ve got to look at the house objectively to see what needs an upgrade. While you might think you should redo the bathroom (complete with a claw foot tub the homeowner would get to enjoy before you sell), this cosmetic change doesn’t have the same impact as some practical upgrades. Check out these three renovations that have the biggest impact on how quickly you can sell and for how much.  

1. Replacing an Old Furnace

Replacing a furnace might not be the most glamorous upgrade for homeowners, but it could be the most appealing to prospective buyers. An old, glitchy furnace can be a real turn-off, even if the rest of the house has been recently redone. 

If it doesn’t scare them away entirely, it could be one of the prospective buyer’s conditions on buying the home. They’re well within their rights to request the seller replace a broken or inefficient furnace. 

Getting the jump on this reno before the home inspection could help you prepare for the cost of replacing a furnace. 

As far as renovations go, a new furnace isn’t the most expensive thing you can buy for your home. Depending on the type (i.e., electric, gas, or oil), a replacement could cost between $2,000 and $5,400. 

But what happens if an out-of-date furnace dies before you can adequately save up what you need? This could be an emergency if you live in a cooler climate, so time is of the essence. 

Many people think payday cash advances are the only option when they’re facing a timely, unexpected emergency without savings. However, there are 3 alternatives to payday loans that have simple, fast applications online. Compare installment loans, lines of credit, and credit cards before you use a cash advance payday loan. 

In terms of ROI, replacing a furnace at any time might not boost the property’s value like a kitchen reno. However, it will insulate the selling price. A new furnace could make the home more appealing and get it off the market faster than any cosmetic upgrade. 

Homeowners also stand to gain all the benefits of a new, energy-efficient furnace until you move. Newer appliances use less energy to heat homes, so you’ll see a difference in your utility bills right away. 

2. Get a New Roof

The roof is often one of the first things prospective buyers see when they come to an open house or walk-through, and their first impressions could hold considerable sway over whether they put in an offer. 

An old, sagging roof with missing tiles raises a red flag that almost guarantees water damage. More still, if the exterior of a home isn’t looked after, it doesn’t bode well for what’s inside. 

Even if the home’s interior is beautifully decorated and maintained, it will be hard to shake off the impression of a damaged roof. Prospective buyers will remember it as something they’ll have to deal with in the near future if they purchase the home. And if that impression was bad enough, they may not put in an offer.

Fixing up your roof before you put your home on the market is a financially sound idea. While a new roof will likely cost around $7,600, you’ll get a 105% ROI. That’s according to the National Association of REALTORS® and the National Association of the Remodeling Industry (NARI). 

There’s little wonder why. A new roof gives the home’s curb appeal an instant facelift, and it comes with peace of mind about the home’s safety. 

3. Update Windows and Doors

Next to the roof, nothing can impact curb appeal like the front door and windows. Any prospective buyer will have to walk through this door before they get to see the rest of the house, so you’ll want to make sure it presents a pretty picture to realtors and buyers alike. 

When updating, pick the colour of your door carefully. Although hot pink might be your favorite color, it’s probably a turn-off to most buyers. Muted colors tend to go over better to the general public. According to Zillow, a black front door in particular could increase the value of a home by nearly 3%. 

You’ll also want to think about the type of material your new door will be. A steel door has a 91.3% ROI since it looks good, and it makes your home safer. 

Like the front door, your windows play a major role your home’s security and curb appeal. Replacing all the windows in your home will also address any energy issues. New windows seal drafts and trim down utility bills, which may be a huge selling point for some buyers. You’re also looking at a 73.4% ROI, which puts it above stylish kitchen and bathroom remodels. 

The Takeaway

When most people think of renovating to sell, they often think of the flashier upgrades they can make to their home. But these renovations are subject to ever-changing trends. What could be in style today might not be appealing to buyers tomorrow, so anything you choose has a good chance of being renovated later by the new owner. 

A new furnace, roof, and windows and doors, however, will always be in fashion. Prospective buyers want to know they’re buying a safe, structurally sound home before they put in an offer. So, consider these upgrades before any other major work.

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