Dear David,
We’ve lived in our home for over 20 years. It was nearly new when we moved in, and had all the latest finishes. Now it’s time for us to downsize, and we can’t help but notice it looks a little tired. Should we renovate this home before we sell, and if so, how much work should we do? Alternatively, should we put it on the market as-is? – SHOWING OUR AGE
DEAR SHOWING: After a few decades in the real estate business, I can visualize exactly what your house looks like. As homes start to show their age, we can only hope they age as gracefully as we do. Your house may not be a trendsetter, but hopefully you’ve maintained the fundamentals: replacing the roof when needed, and changing out the furnace and air conditioner as they reach the end of their economic lives. Your windows won’t likely need attention as vinyl and aluminum are highly durable, but if one has lost its seal, it’s typically a fairly simple fix.
From a cosmetic standpoint, it can be hard to justify a major overhaul. When you’ve lived in a home for many years, there is really no pressing reason to renovate a kitchen or bathroom that is working just fine. At this stage of home ownership, some people choose to sell their property as-is, while others renovate from top to bottom, which tends to be a long and difficult process (and is not something I recommend). It sounds like your home is perfectly functional, but starting to show its age a bit.
I like to take a walk through a property and identify things that jump out at me. This is not about performing major surgery by building an addition or finishing off the basement. Instead, we’re just doing a little nip and tuck. Start with smaller details, like switching out those builder’s-grade brass doorknobs and ceiling lamps, but don’t spend $700 on a new kitchen light. Instead, head to your local big box store and look for LED lighting choices that are modern and economical.
After living in a house for decades, most of us end up with different colours of paint in various rooms. The vibrancy might appeal to us, but we need to appeal to the masses. A singular, consistent colour throughout will make a world of difference to potential buyers, and will look even better framed by freshly painted doors and trim.
When you take a look around your home, what else do you see? Perhaps some new hardware or a fresh countertop could go a long way towards giving your house a modern feel. I didn’t mention flooring yet, but fresh new mid-grade carpet with a premium underpad is a very effective and economical update.
PRO TIP: You’re not trying to rebuild the house, just appeal to the masses. Providing buyers with a home they can move into will ultimately remove a lot of objections and make the sales process as simple as possible. #Advice #AskDavid #TheNegotiator
David is a top-selling Broker in Kitchener-Waterloo Region. He works personally with you when selling or buying your home. Call or text today for your free home evaluation! 519-577-1212.
