Sigh… if only there was a definitive list of home improvement projects worth investing in before you sell as curated by Charlotte’s top-selling agents. Oh, wait. There is!
Together with some of the top-producing Helen Adams REALTORS®, we have compiled a list of what’s worth it and what’s not, and even reveal a couple of trade secrets…
Does age really matter?
When it comes to deciding on what to renovate, it’s nice to hear that age isn’t an obvious or only factor to be considered.
REALTOR®, Jill Miller says “The age of the home isn’t as important as the age of the most recent updates. When the finishes of a home haven’t been updated in 15 or more years you can almost guarantee that they will need updating and a refresh to get highest return in the marketplace. This includes paint colors, cabinet colors (and sometimes style), counters and backsplashes”.
It’s also about managing expectations. “Generally speaking, I think homes from the 80s-90s most often need updating. Older homes may have been updated or have classic styles that may have even come back around,” says REALTOR®, Kelly Blandford, “but, it really just depends on two things: 1: who has previously owned the home and what their priorities were, 2: the buyer – every homeowner has a certain expectation for updates.
The age-old question: renovate the kitchen or primary bath?
It’s a tale as old as time… budget-wise, owners often have to choose between updating the primary bathroom or the kitchen before selling. The Helen Adams agents lean slightly toward kitchen, but all agree that renovating these two areas will get you the most bang for your buck.
REALTOR®, Amy Gamble says “Kitchens and baths are always your best ROI. Kitchens are definitely top of the list since this is where people spend a lot of time and then master bath would be a close second. Buyers will pay for a nicely updated kitchen.”
When deciding on what to update, consider that many buyers don’t have the time or desire to invest in a huge renovation immediately after purchasing a home – especially given some buyers may already be at the top of their budget to just purchase the home.
“Kitchen and bath renovations can be costly and buyers would rather not have to take on these kinds of projects after purchasing a home. A clean, crisp, kitchen where one will enjoy their time whether it be cooking, working or gathering is a huge selling point,” says REALTOR®, Tina Hicks.
Invest in your first impression
We’re all familiar with the power of curbside appeal, and this is a project that all four HAR agents unanimously agree is well worth the investment and gets a great ROI.
“First impressions mean everything; curb appeal goes a long way. Every property is unique. If the mailbox is at the street, ensure the area is manicured and fresh. The walkway to the front door should be clear and clean. Depending on the season and property, plantings should be in place along with fresh mulch or pine needles. Trim and prune back any trees and bushes away from the house; this is a big thing that always comes up in an inspection report. A good power washing of the driveway/patio/deck goes a long way,” says Tina Hicks.
Jill Miller says “Landscaping and curb appeal set the stage for how the buyer perceives the home in terms of quality, care, and updates, and this translates to higher sales price. Open sight lines and pathways to see the highlights of the yard go a long way toward creating a great impression and the feeling buyers want when looking for a home.” Amy Gamble adds: “If there’s money to spend then decks and paver patios for the win. And, a screened-in porch is a huge bonus for many buyers who want a true outdoor space for relaxing.”
Is it smart to upgrade with new tech?
From spa-like chromotherapy showers to fancy faucets and interactive video doorbells, it seems there’s a gadget that can do just about anything. But is it smart to upgrade your home with new tech before you sell?
Tina Hicks says yes, but only in some cases “I had clients purchase a home last year and we did not realize the faucets were ‘smart’, they thought they were broken until I investigated and figured it out. That was funny, but had they known beforehand, I don’t think it would have increased their offer on the home, based on smart faucets.”
Smart tech also tends to be personal. “I don’t think buyers are necessarily looking for these things. In fact, most buyers that are into tech would likely plan to do these things on their own to get the latest and greatest. Otherwise, these items don’t necessarily add value in my opinion,” says Amy Gamble.
What about windows?
New windows won’t necessarily ‘sell’ a home but it contributes to the overall value in the sense that it shows the home is updated and has been well maintained.
“Ahh… the window question is a tough one. For selling the first choice for funds would be updating outdated finishes, completing deferred maintenance and refreshing curb appeal. Buyers do value new windows – especially in homes over 20 years and they will factor that into the long-term cost of owning, but I haven’t seen this stop buyers from moving forward with homes,” says Jill Miller.
Kelly Blanford agrees saying “As an agent, I love seeing new windows, especially in an older home where they may be single pane or even painted shut. It’s not only a cosmetic issue, but impacts your home’s efficiency and safety. But I do know they are expensive, so a seller needs to make a wise decision on whether it’s worth it in their case. I also make sure to let buyers know when it appears it may be something that is needed in a home they are considering – that it should be on their mid-range ‘to do list’ but that it will be well worth it, even as the new homeowner.”
Learn what to look for in a listing to assess the value of renovations
We love a pretty picture but deciphering the description is important too. Tina Hicks always makes sure to include any updates at the beginning of the description – revealing that terms such as high-end appliances, brand new, luxurious, remodeled and move-in ready let the buyer know that the home has been updated.
Jill Miller’s listings include words like freshly painted, new cabinetry, outdoor oasis, renovated kitchen, quartzite or stone countertops and custom closet system. Kelly Blandford says “I definitely like to point out things that are new or updated; any sign of money a new homeowner will not have to spend right away. New HVAC, roof, windows mean value – updated kitchen and baths also show value, but you really have to look closely, as there is a huge range in the definition of ‘updated’ in those areas. A good agent should be able to point out what is of real value and what items will need updates or continued maintenance down the road.”
What’s the final offer?
Bottom line: an experienced agent is your best investment. No, that’s not a sale’s pitch, it’s just how it is. You’re excited and focused on either buying, selling or moving, and it’s all very close to home (pun intended) what you need is someone who knows the market, can guide you and go to bat for you when necessary.
Jill Miller sums it up best: “I always recommend that sellers make smart updates, not just any update. What’s smart to update depends on market conditions, price of the home, hyperlocal competition and the willingness of the seller to update in market-friendly finishes (not too personal or specific). This is where an experienced listing agent is key.”
By the numbers
- Minor Bathroom Remodel: Returns an average of 102%
- Landscaping: Returns an average of 100%
- Minor Kitchen Remodel: Returns an average of 98.5%
- Attic Bedroom Conversion: Returns an average of 93.5%
- Major Bathroom Remodel: Returns an average of 93.2%
- Major Kitchen Remodel: Returns an average of 91%
- Entry Door Replacement: Returns an average of 90.7%
- Deck/Patio/Porch Addition: Returns an average of 90.3%
- Basement Remodel: Returns an average of 90.1%
- Replace Windows: Returns an average of 89.6%
Contact one of the agents featured in this article or call Helen Adams main line to connect with someone who can help you evaluate your home for sale. There’s no time like the present as they say 🙂
Thanks to our Helen Adams Realty experts for their contributions!
Helen Adams, a sixth-generation Charlottean, founded her residential real estate company in Charlotte in 1975. Her achievements as an entrepreneur and community leader laid the foundation for a thriving, multi-office real estate business, and today she has become a role model for women throughout the Charlotte region. Second- and third-generation family members, led by Jeff Adams, continue to successfully operate four offices serving Charlotte’s finest neighborhoods with a stalwart commitment to perfecting their craft.
