Here are nine home upgrades that can help boost a home’s resale value: 

• Finished And Functional Appliances 
• Home Elevator
• Expanded Front Patio
• Curb Appeal
• Kitchen And Bath
• A Healthy Outdoor Space
• Think About First Impressions
• Smart Thermostat
• Match The Neighborhood

Finished And Functional Appliances 

Fully functional appliances are a must to boost resale value. Addressing repairs on key appliances like a refrigerator, dishwasher, dryer, washer, and oven should absolutely be considered as part of the home upgrade process. A professional appliance repair technician should be considered to provide a quote and clear the way for upgrades to be made. 

— Alex Belladorsi, Appliance Technician

Home Elevator

On top of the practical convenience that installing a home elevator can have, the value of a home can benefit as well. In fact, getting a home elevator installed may increase the property value of a home by 10% or more. Some home buyers need seamless travel between floors for accessibility or other reasons, and a home elevator can help check that box for prospective buyers. 

—Brett Torfin, Arrow Lift

Expanded Front Patio

This past summer, we extended our front patio size so that kids can run around while the parents take a moment to chill. It’s amazing how laying some concrete can help boost a home’s resale value. The first thing a home buyer sees and experiences is a front patio. If Malcolm Gladwell’s Blink theory is true, and people make decisions within the blink of an eye, then investing in a front patio not only can attract buyer interest, but it will also make the home a little more enjoyable as well. 

— Brett Farmiloe, Markitors

Curb Appeal

Boosting your home’s resale value can be quite simple. Start with curb appeal. Does your house need a fresh coat of paint? Is the landscaping fresh and friendly? If the outside is appealing, decide to update old lights, outlet covers, and faucets; of course, make sure your walls show a fresh light color. An inviting backyard is another quick change that could boost the resell value; perhaps add a portable fireplace?

— Sonja Talley, CORE HR Solutions, LLC

Kitchen And Bath

Upgrades to kitchens and baths will help your home appeal to today’s buyers and deliver maximum value. If you can’t afford a redo of your entire kitchen or bath, think in terms of a refresh. Reface and possibly paint cabinets, upgrade hardware, and install drawers or pull-outs to make everything easily accessible. Replace existing laminate or granite countertops with low maintenance quartz and a nice tile backsplash. Can you install a kitchen island, or make your existing island larger or more workable, like adding seating? Upgrade faucets and consider installing a reverse osmosis water system. Freshen up with new accessories and linens, and your kitchen and bath will look new and be ready to get you top dollar when it’s time to sell.

— Colleen McManus, Senior HR Executive and Consultant

A Healthy Outdoor Space

One thing that people learned from being at home—more than at any other point during their lives—is how to enjoy and appreciate their own personal spaces. Therefore, creating an outdoor refuge can not only up the value of your home, but it can decrease stress, anxiety and give you a place to unwind after a long day. Whether it’s a brick patio, a deck, or an entire outdoor living area, consider this a place to do your morning yoga on nice days or even host your Zoom calls. The possibilities are endless, as well as the impact that it can have on the value of your home.

— Travis Killian, Everlasting Comfort

Think About First Impressions

Selling a home is as much about the hard facts such as location, size, and property as it is about the first impression during the viewing. When everything seems right, but you see a dying green area or old rug which is way past its best days while walking in, it won’t take your mind to the right spot. Fix the outside areas up to a presentable state and look especially at the outside area—this is the first impression your home will make. A little bonus tip: As a homeowner, you often get “blind” to these issues. Asking a friend to point you in the direction can do wonders.

— Edward Briggs, Home Reviews

Smart Thermostat

Energy-efficient appliances such as smart thermostats have emerged as one of the most valuable technologies and are also considered to be among the three-most wanted technologies in houses, according to the National Association of Home Builders (NAHB) survey. A smart thermostat facilitates you to adjust your home’s energy consumption according to the latest electricity prices, which would help you operate economically. It ranges from $150 to $400, excluding the installation cost. However, it’s always worth installing this smart thermostat, and it often catches the attention of buyers.

— Raaquib Pathan, FastPath Home Buyers

Match The Neighborhood

Any upgrade will boost a home’s value if it matches neighborhood standards. While you don’t want to have the most deluxe home in the neighborhood, you certainly want to be at least average when it comes time to sell. If 70% of the homes in your area have granite counters, replacing that chipped laminate counter will more than pay off!

— Joni Holderman, Thrive! Resumes

There are a number of reasons why people decide to move, but it’s important that you actually take a close look at some of the reasons selling your home now might be the right decision for you and your family.

I’ve put together some of the main reasons people make the decision to move:

1. YOU CAN’T AFFORD IT ANYMORE

Definitely the saddest, most stressful and negative justification for selling your home.

But unfortunately it is a reality that many people are facing as the pandemic has affected us in so many different ways: lives have been lost, in many cases the main provider, leaving the family not only emotionally broken, but financially in dire straits.

Millions of jobs have been permanently lost or furloughed, family incomes reduced, loved ones health has been affected leaving them unable to work the same and produce the same income.

While all of these reasons are devastating and even embarrassing to some, it is a situation that needs to be addressed promptly.
Especially as many of the pandemic programs to stop evictions and foreclosures might be coming to an end.

The good news is that in this market, homeowners in this position can actually find comfort in knowing that, in the vast majority of cases, they can get out and possibly make a sizable profit that would allow them to make the next move in a much more comfortable and less stressful position. And in many cases without even having to worry about fixing up the house and making it picture perfect!

2. HOME IS NO LONGER THE RIGHT SIZE

As we grow, our needs change, meaning different properties are suited to different times of our lives.

Maybe a new addition to the family, or small children growing up and needing a bigger and more child-friendly home.

On the other side of the coin, maybe the kids have started to fly away from the nest, and your once perfectly sized home now seems eerily quiet and prone to echoing. Downsizing could make you more comfortable, not to mention it can free up a substantial amount of money.

3. THE MARKET IS IDEAL FOR SELLING

If you’re still on the edge about selling, a hot property market could be enough to tip you over. The good ole’ supply and demand rule is in full force in most markets, with Kansas City being no exception.

Why would it be? This is the perfect place to live! (Yeah, I’m partial on this matter and you can’t change my mind ????)

This means there are a lot more buyers than sellers in our area, which can result in the price tag for your property for sale being driven up by the increased competition.

The beauty of that though, is that the low interest rates still allow buyers to get a fantastic deal and in many, many cases, allowing them to buy for less than they would rent.

Making it an ideal WIN-WIN MARKET!

4. TIMES ARE CHANGING

Simple lifestyle changes can result in you wanting or needing to sell your home and move locations.

Maybe in you’ve picked up a new job in a different city, you’re tired of your long commute to work or you want to live closer to your friends and family or your income allows you to get a better house, in a better area, maybe better schools districts?

It can even be something as simple as wanting a change in your life, like a breath of fresh air from a different area, trying to ditch those ugly and restricting HOA rules or wanting a little bit of land to make your little patch of heaven!

5. SIMPLY TIRED OF IT!

Maybe there were repairs you never got around to and now you’re just over wanting to fix it up and make it pretty again. Or you don’t have the time, energy or finances to remodel and make it pretty again.

Have you heard that one man’s trash is another man’s treasure? This is the time! Buyers are looking for a project, for a new canvas. And your home may just be it!

While there is a fantastic window of opportunity for homeowners to sell their home for top dollar in right now, selling your home is a very personal and important decision only you and your family can make.

Once you’ve balanced all the positives and negatives, emotions and practicalities, you can make a solid decision for your family.

Figuring out the numbers, finances, possible selling prices and total net in your pocket after everything is said and done is something a Realtor can help you figure out. Give yourself peace of mind that you’ve made the right decision for your family. Don’t wonder what could’ve been.

When it comes to buying or selling your home, the year 2021 is already noticing some shifts and trends that weren’t as prominent last year. Thoughtfully renovating and staging your home can be the most effective ways to sell quickly and successfully, especially during these unprecedented times. There are eight specific rules and tips that you can follow in order to refresh, stage and sell your home seamlessly.

Tip 1: Paint

First, a fresh coat of paint can make all the difference. Adding a fresh coat of paint to the inside of your home can have a huge impact. Fresh paint not only brightens a room, but it can also make the space feel much bigger than it actually is. It also gives an overall appearance of a well-kept home! In addition, adding colorful throw pillows and blankets that work together with the paint color can give a home a well-balanced look too.

Tip 2: Kitchen Upgrade

Next, it is crucial to look at upgrading your kitchen. A new kitchen has the most impact on potential new home buyers because it demonstrates to the buyers that the home has been updated. Although it can be costly to do, you always recoup your investment from the upgrade.

Tip 3: Sloppy Furniture & Decor

You will also want to remove stained furniture and decor before showing your home to a potential buyer. Get rid of any and all stained furniture, rugs, etc. It gives an overall bad feeling to prospective home buyers when they see stained items in your house and it makes the house look beaten up. Since it can end up being pretty pricey to replace multiple items in your home, there are a few ways you can still do this without breaking the bank. Instead of spending the money on a brand new rug, for example, you can buy an inexpensive sisal rug to place on top of the existing rug.

Tip #4: Paint the Cabinets

In a kitchen, instead of completely replacing worn, stained, and beat up cabinets, painting the cabinet fronts can give a kitchen a huge facelift. Another option is to reupholster furniture instead of replacing it altogether, which can still make a big difference. If you like the shape of a piece, reupholstering the item can really revive it and as long as you choose a moderately priced fabric, it doesn’t have to break the bank. However, if you can, buying new fresh-looking furniture can really elevate a space.

Tip #5: Smart Tech Upgrades

Ultimately, it’s important to focus on investments that will make an impact. A built-in coffee maker, such as the Miele coffee maker, can be a great addition to your kitchen. Another wonderful kitchen investment is a steam convection oven which reduces cooking time. For the bathroom, investing in a steam shower and wall mount faucets in black matte can be wonderful additions as well.

Tip #6: Look Your Best

Another strategy to focus on includes arranging rooms to look the best, not the most practical. Always try to arrange a room in the best way possible — not necessarily for practicality sake. For example, sometimes a table may be too close to a cabinet for proper opening and closing. However, that is because we are after a more balanced look rather than a practical one. The same goes for television placement as well. The TV does not necessarily have to be viewable from different furnishings as long as the placement looks balanced and the best in the space. These things do not matter for selling purposes, because no one is going to be watching the TV while viewing the home!

Tip #7: Color Wheel

It’s proven to be beneficial to use color as well! People tend to like to see pops of color in throw pillows or in an occasional chair when viewing a home. It is also nice to add an element of surprise through art with color. The psychology of color says that individuals tend to gravitate towards items that are the color blue, so this is also something to keep in mind when staging your home. Color also depends on the style of the home as well. For example, in more modern style homes, we will use a neutral palette with more black than we would in a Farmhouse style home.

Tip #8: It’s in Season

Furthemore, keeping the seasons in mind is crucial. In Southern California, for example, the look of a staged home may not change too much with the seasons, however, there are still some changes we like to make. For example, we tend to use more subdued colors in Fall and Winter. We may also add a chunky throw and more organic materials to add texture to the design during these months. Since Summertime is always a more happy time, we try to throw in some bright colors in our design, especially in the outdoor spaces.

In the end, the most important thing is to make your home feel warm and inviting. You want to make sure buyers can really see themselves living in your home and feel comfortable in your space when they come to view it. One way we like to do this is by using real plants and flowers as much as we possibly can. This makes your home feel less like a hotel and more like a place they can see themselves living in. Buyers also like to see up-to-date furnishings that do not look too cold. There was a trend a while back for everything to be white, but you also want to make people feel like their lifestyle could fit in with this on a daily basis. That means it is important to try and not give any space an impersonal, hotel look.

In a WMU-Cooley blog post from 2016, Tarrien, who teaches at the law school’s Michigan campuses, advises that “the key thing as a home seller is that you disclose ANYTHING that is not readily visible and you think may affect the value of your house. This can range from fairly common circumstances, like leaks or potential flooding in the basement, to the more exotic and downright strange, such as a haunted house perception or noisy neighbors. If you don’t disclose and the buyers discover these types of situations, they may be able to back out of the deal. It’s better to be safe than sorry – otherwise, you may not have a ghost of a chance making it to closing!”

DuBose, who teaches at WMU-Cooley’s Tampa Bay campus, says laws vary from state to state about what sellers must disclose to potential buyers. In the instance of a potential haunted house in Florida, things may be a little different there than in other states.

“In Florida, you do not have to reveal a homicide, suicide, or death occurred because it is not material (F.S. 689.25(1)(b)). There is no requirement to disclose paranormal activity,” said DuBose. “You must reveal facts materially affecting the value of the property, such as structural defects. In Johnson v. Davis, 1985, this famous Florida case was about a defective roof. You must disclose any code violations, radon gas, pending legal actions, etc.”

“The case of Stambovsky v. Ackley may be the most famous case involving the disclosures of paranormal activity during the sale of a home,” said Tarrien. In this case, the New York Supreme Court ruled there had already been widespread publicity about the Queen Ann Victorian home along the Hudson River.

“Under Stambovsky, when a homeowner tells others their home is haunted, they would have to disclose this information. If a home has a reputation, or is known as a haunted house, it will need to be disclosed. The house in the Stambovsky case had both the reputation and the media coverage about it being haunted to require that it be disclosed,” said DuBose.

“In this case, the homeowner, Helen Ackley, failed to disclose the haunted reputation of the home to the buyer, Jeffrey Stambovsky, who was not from the area. Stambovky learned of the homes ghostly activity after it was too late to get his deposit back,” said Tarrien. “Through the court proceedings, Stambovsky was able to recover half of the deposit. And, because of the past published reports about the home, the New York Appellate Court ruled ‘as a matter of law, the house is haunted.’”

Focus on the essentials first

As any long-time realtor can tell you, trying to close the deal on a home that has a leaky roof, a dead air conditioner, or a slab leak is nearly impossible. These major problems can instantly endanger any home sale. Outside of very specific conditions, most buyers will balk at closing on a home with thousands of dollars in needed repairs. They’ll likely ask your client to make the repairs before close, knock the cost of the repairs off of the list price, or—most likely—decide this is all too much trouble and back out of the deal altogether.

So, what counts as an “essential”? Basically, think about anything that might come up as a major red flag in the buyer’s home inspection, or that you need to disclose according to state or local laws. Homebuyers and their agents expect a home to come with minor defects and general wear-and-tear. A major plumbing issue—such as a leaking pipe, a broken water heater, or a cracked sewer line—is another story altogether. In this scenario, have your homeowner call a local plumber out for repairs. Whatever the cost of dealing with the plumbing issue is now, it’s worth it.

If you’re working with a homeowner who is prepping their home for listing, ask them about these potential deal breakers ahead of time. While fixing a slab leak or addressing structural damage might not be as sexy as an upgraded kitchen or master bathroom, you and your client need to remove as many red flags as possible from the property ahead of listing. If the homeowner’s budget only allows for these essential repairs, prioritize them over other upgrades.

Kitchen remodels

Assuming that all the essentials check out, a homeowner looking to add value to their home should next turn to the kitchen. Kitchen remodels are among the best home projects for long-term return-on-investment: homebuyers, just like all of us, love renovated kitchens and dining areas. If your client invests into their home by remodeling the kitchen, they not only can expect their home’s value to jump, but they’ll also see their home get much more interest when listed.

The first thing that prospective buyers are going to notice are the countertops and cabinets. If your client is asking for your advice on what to remodel in their kitchen, recommend that they go with stone countertops and wood cabinets in neutral colors, such as white quartz paired with charcoal cabinets. Not only are neutral colors in vogue right now, but they appeal to the widest range of potential buyers, making them an ideal choice for homeowners looking to maximize their value and curb appeal.

While kitchen remodels are generally high-value projects, make sure that it’s a good fit for your client’s home. If none of the comp properties feature a remodeled kitchen, that’s going to blunt the positive impact of the project and reduce their ROI. If the comps all have kitchens that are far nicer and more extensively renovated than what your client is planning, you should also take that into consideration. It’s hard to attract buyers to a unicorn: for the most part, you want to invest just enough to stay competitive with comps and other homes in the neighborhood.

Energy-efficiency upgrades

If there’s one thing that unifies all homeowners, it’s their disdain for high electric and gas bills. More and more buyers—especially millennial homebuyers, who now make up a majority of the real estate market—are interested in purchasing homes that have energy-efficiency upgrades already ready to go. This is good news for you and your client: efficiency upgrades can be a relatively low-cost way to add value to the property, make it more attractive to buyers, and stake out an advantage over other properties in your size and price range.

For starters, encourage your client to call their local HVAC company out for a whole-home energy audit. This specialized service will provide them with an assessment of where their home is wasting the most energy—and what they can do to address this regular energy loss. A professional energy audit provides the homeowner with a punch list of items they need to complete to get the most-possible return. This typically includes adding attic or wall insulation, installing a programmable thermostat, and caulking around windows.

In most cases, homeowners can complete a whole suite of energy-efficiency upgrades for under $500. If you have a client who wants to invest back into their home prior to sale, but is short on upfront cash, you might want to recommend they go in this direction.

Help your client get more out of their home

Looking for even more high-value home projects that will help your clients list and sell their homes for more? Be sure to take a look at this home remodeling infographic from King Heating, Cooling & Plumbing in Chicago, Illinois. It has even more great tips for maximizing a home’s value and curb appeal ahead of sale.

TOP 5 REAL ESTATE TIPS FOR HOMEOWNERS WITH NO IMMEDIATE PLANS OF MOVING

No. 1: Turn being cooped up inside into an opportunity that will pay off in the future whenever it’s time to sell your home. Start a folder of home improvements you’ve made throughout the years and use it as a place to log annual maintenance, record replacement costs and keep track of ages of heating/air conditioning units, your roof, and other important systems/utilities in your house. You can even keep booklets, receipts and other handy information in a convenient location inside the binder.

No. 2: Start that long-overdue decluttering — focus on your main level first (the garage/basement area is less important to keep organized than your kitchen, main living areas and master bath/closet areas). If it’s hard to get rid of even unused items, put them in a box and move them to the basement — if you haven’t gone into the box in six months, it’s likely safe to donate the box to be enjoyed by someone who will be blessed by your “hand-me-downs.”

No. 3: Start an online folder to store seasonal photos of your home. It can also be home to “before/after” photos if you complete improvements a future buyer would appreciate to have documented. Go one step farther and set reminders on your calendar to take quality digital (cell phone is fine) photos of your home during different seasons. Upload onto your online album shots that showcase views in the winter, lovely sunsets or sunrises, fall foliage and flowers blooming in the warmer months.

No. 4: Take a slow and intentional walk around the outside and throughout the inside of your home and make a list of major and minor maintenance projects you’ve been putting off. Now’s the time to make a plan and budget for completing them (or to check some off the list if you have the skills to earn some sweat equity). So many people wait until they sell to invest the time and money into improvements they wish they prioritized sooner to enjoy the benefits of the updates before handing the keys over to the buyer, who is sure to appreciate your investment in curb appeal and upkeep.

No. 5: Bite the bullet and begin pricing out big ticket items on your “to do” or “dream” list. Contact your trusted agent to brainstorm about the potential return on costly improvements. Calling on an expert for guidance can ensure you make an educated decision about your monetary investment vs. projected future impact on market value. Be ready to share photos or video clips with your agent so they can visualize your situation and be better equipped to educate you about the potential return on your updates.

Finally, make sure you review my other articles in this series written for sellers, homebuyers and agents for other suggestions you can implement.

TOP 5 REAL ESTATE TIPS FOR SELLERS ACTIVELY ON THE MARKET

No. 1: Stay in close contact with your listing agent to keep abreast of how the industry is impacted by regulations surrounding the virus. Understand that showings have decreased across the board and discuss the pros and cons of staying on the market (continuing to allow showings), changing your status to temporarily off the market, or withdrawing your listing (without penalty due to the crisis) if your situation has changed.

No. 2: Use some of your free time to review your agent’s online marketing and advertising brochures to make sure both properly convey every feature your home offers. Promotion of your house should tell the full story about your home and all it has to offer both inside and out. If your agent is missing key points that buyers need to know about, provide a list of features you want to have showcased and make sure they don’t miss promoting features, upgrades, updates and unique benefits buyers should know about.

No. 3: Create what I call the “Seller’s top 10 Reasons they Love their Home” list. Invite your children (if appropriate) to make their own list and/or create artwork to go with it. It doesn’t have to be ten reasons, but make it full of positive features that enable the buyer to picture themselves making memories of their own in your home. You can share bonus insights about the neighbors and subjective features that agents aren’t able to verify and include in their own brochures, but can include the list and quote from you. You could even go above and beyond and create a video tour that your agent can use in marketing in which you walk through your home and share features. Get the entire family involved!

No. 4: Have frank conversations with your agent about pricing, strategy and your ideal timeframe. Share any changes that the current state of affairs has caused, discuss outside the box ways to increase buyer traffic and contemplate pricing adjustments. None of us know with certainty what the crisis will do to the real estate market. Have the tough conversation sooner than later to determine what price would be one that you’d accept to get the sale behind you. Then strongly consider dropping to that price to spur the pervading stalled buyer interest. A price reduction combined with these tips could get you at the virtual closing table a lot sooner.

TOP 5 REAL ESTATE TIPS FOR THOSE PLANNING TO SELL SOON

No. 1: Make believe you’re a buyer. Step outside and analyze your house as if you pulled into your driveway for the very first time. Look at your home from the inside out with a critical eye and make a list of noticeable flaws. Focus first on curb appeal improvements (starting in the front of the house and moving through the main living areas), prioritizing enhancements you can start to make that would have the most impact on improving showing appeal. As you walk through your home, visualize how two buyers and an agent would fit through your living spaces and plan to clear large furniture or unnecessary items that crowd your rooms. I personally never have felt that it’s necessary to remove personal photos, but do encourage sellers to hide expensive items or medicines that could easily be pilfered.

No. 2: Make a list of every feature that your home offers, especially the ones that aren’t as obvious. Do you have energy star appliances, existing warranties, high efficiency toilets, recent upgrades, unique features, efficient utility bills? I always encourage sellers to share with me any detail that could potentially earn then an extra dollar at the closing table. Make a list of your top 10 favorite reasons you love your home. Make it a family affair and ask kids to contribute too, or provide artwork for your family list. Help your Realtor tell the full story of your home that will speak to the hearts of buyers who read about it online (and inspire them to take a tour).

No. 3: Start looking online and review listings and price tiers of homes similar to yours. Start getting a feel for what your house is worth and what your competition looks like. More important than what houses like yours are actively listed for is the price homes fetched at the closing table and how long it took them to get under contract). Notice what is appealing in photos and online marketing of other listings. Take notes about how you think your home can shine in comparison.

No. 4: Start contacting and researching agents to interview. Ask for sales statistics and references from past and current clients. Review a sample of their marketing brochure template and scrutinize their online property advertising. Pay special attention to the quality of their photos and writing skills. I suggest interviewing three agents, and letting each one know that you are doing so. Remember that discount brokerages can also mean discounted services, so know upfront what your agent promises to deliver before you sign a listing agreement. I never encourage listing agreements longer than three months. You can always extend if your property isn’t sold within that time frame.

Finally, make sure you review my other upcoming articles written for homebuyers, agents and for homeowners for other suggestions you can implement.

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