ADVICE
FIX IT OR FORGET IT?
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Windermere agents share the renovations that can help you make—or even beat—market value. BY HAN N AH BRUN E LL WHEN IT’S TIME TO SELL your property, it might be tempting to focus on the big, eye-catching details. While an entire kitchen or bathroom remodel will be sure to turn heads, covering the bases with costeffective repairs and refurbishments can add just as much value to your home. What renovations are worth investing in when you’re ready to sell? The first step in selling your home for the highest value starts years before you even put it on the market. Maintaining property maintains its value, and in the eyes of a buyer, deferred maintenance is always going to appear more costly than it is to the seller. “If it’s $1,000 of work [that needs to be done], it’s going to look like $1,500 to $2,000 to the buyer,” says Blake Ellis, broker for Windermere Realty Trust in Portland. He also mentions that it can be worth it to make updates prior to selling just to mitigate the stress of the selling process. It’s important to start with the basics when deciding what needs to be addressed. “If there is a sewer, safety, or sanitary issue, it needs to be fixed prior to putting the home up for sale,” says Cory Williams, Broker for Windermere Real Estate in Metro Denver. A sound, watertight roof, decent
siding, window and door seals, a regularly serviced HVAC system, and a house free of pests and rot are basic buyer expectations. With the baseline of a well-maintained home accomplished, variables such as the age of your home and the market you’re selling in can determine what’s next. If your home is only a few decades old, investing in renovations can make a big difference in value, but much older homes might not enjoy the same increase. “If everything in the house is from the 1960s, then you might not need to renovate. Someone’s going to update it to how they want,” says Robyn Kimura-Hsu, a broker with Windermere Mercer Island. The market and the buyer set you’re looking to attract will greatly affect how much effort a seller will be expected to put into renovation. “Look at the Portland market several years ago,” says Ellis. “Buyers would compete for listings that might not have sold at market value now.” As more houses were built, buyer expectations were able to rise. Similarly, properties have to be pulled together and priced right to sell in the Seattle market, according to Kimura-Hsu. “Your property has to be visually
appealing, especially since photos are what lures buyers in.” It’s always possible, however, to blend both cosmetic and functional repairs to improve the value of your home. Fixtures in kitchens and baths can be good to invest in if they’re notably dated. Kimura-Hsu says that painting dark-wood cabinets white or gray is an inexpensive way to modernize the all-important kitchen. Most buyers are looking for gas ranges rather than electric, so if you have an unused gas line it may be worth it to swap out your electric model for gas. Williams has more ideas for renovation that might often be overlooked. “Gutters that don’t slope correctly, clog, or don’t go far enough from the foundation are going to cause big problems in the future.” He is cautious when it comes to replacing windows, however. “A lot of people get overcharged for windows while trying to make their home more efficient. Make sure that it’s a smart investment for a good return for the money.” For assurance, Williams suggests homeowners consult with a real estate professional before making such a significant investment. WINDERMERE.COM
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