Are you considering selling your home in Cincinnati or Northern Kentucky? 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 if you are trying to sell your house in the Cincinnati area!
Updating and beautifying your home is a sure-fire way to get more potential buyers in the door. However, many sellers make the mistake of making too many upgrades or upgrading things that do not increase the property value. Some people even make upgrades that end up turning OFF buyers! We see this time and time again with sellers, where they repair something they think that adds value only to find that buyers don’t care! Before endless trips to Lowe’s and money wasted, read our tips on upgrades to avoid.
Don’t Add a Pool Unless YOU are Swimming In It
You will not be able to add the price you pay for a pool onto the previous value of the home. It doesn’t work that way. We have seen people spend over 50k to add a new pool, only to be able to add a couple thousand to their asking price. Unless you plan on swimming in the pool yourself for years to come, a pool will end up costing you more than it adds value. Pro Tip: A pool doesn’t provide returns.
Don’t Get So Personal
Avoid overly customized designs. This can include overly designed kitchens, baths and anything else that you consider one of a kind. Consider toning down bold colored rooms and creating environments that are a bit more neutral. One of the best things you can do is paint neutral colors throughout out the house. No matter how much you love panther purple, don’t do it! You need to create a clean, blank slate that buyers can picture themselves working on.
Don’t Decide for Your Buyers
If there are obvious repairs or upgrades needed, don’t make them. Instead, provide a credit to the buyer, so they can have things done the way they want. It can be a great incentive when buyers have the ability to decide on the details of the home. People will be attracted to the idea of choosing their own countertops and lighting fixtures. Pro Tip: Don’t make upgrades based on your own personal enjoyment or taste.
Leave the Basement Alone
Do you have a house with an unfinished basement? If, so… leave it that way. The costs to finish the basement aren’t worth what you will get back. This goes to the previous point above. A buyer may want to renovate the basement, but they may want to do it their way. How do you know if they want a man cave with pool table, or a work bench and power tools? You don’t! Leave it up to them to decide and keep the money in your wallet. Pro Tip: An unfinished basement is best left that way.
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. List for as many bedrooms as possible, and let the buyers decide what they want to do with teh space. Pro Tip: Plan your space with purpose.
What are the Neighbors Doing?
Take a look at other homes in your neighborhood and keep your upgrades somewhere in the middle. If you go too far with your add-ons, you will be targeting high-end buyers. Keep a look out for other homes that have sold in your neighborhood. Go to Zillow and make a spreadsheet. You can easily see photos and property details for homes that have recently sold in Cincinnati or Northern Kentucky. You’ll quickly learn what upgrades to avoid by studying other home sales in your neighborhood. Pro Tip: Keep your property competitive within your neighborhood, but don’t take it too far!