Renovations that realtors can suggest to improve home values

On Behalf of | Feb 1, 2019 | Residential Real Estate Closings

As a realtor, it benefits both you and your homeowner to get their home sold for as much as you can. If they have a certain amount of money set aside to make repairs or updates to their home, then there are certain modifications that seem to pay off better than others.

Making a home more energy efficient

One thing that a prospective buyer is likely to ask about when they tour a home is whether it has energy-efficient windows and appliances. They may also ask about how the costs for utilities add up.

If the home isn’t as energy efficient as the prospective homeowner would expect, then they may ask for concessions to be added to the purchase contract so that they can upgrade appliances or cover high utility costs.

Any upgrades that a homeowner makes on this end can add as much as 1 to 3 percent to the value of their home.

New flooring, roofing and heating and air systems

Augusta homeowners are now keen to not invest in a home that’s going to end up causing them a costly headache on down the road. This means that many are looking for homes to have hardwoods or to have a recently replaced roof and heating or air conditioning system.

If you can convince your homeowner to replace these before listing their property, then these improvements can raise the price that you demand by 3 to 5 percent.

Kitchen improvements

If there’s any message that you want to send to your client, it’s that the kitchen is still what will sell their Georgia home. If they have money to spare, then you’ll want to tell them to reface their cabinets, change out their countertop for a nonstaining stone one and replace their dated appliances.

Simple updates to a kitchen can improve the sales price by anywhere from 3 to 7 percent.

If your client agrees to make some of these improvements, then buyers will demand that their purchase contract reflects a conveyance of these items. If they don’t make any of these improvements, then they will want monetary concessions written into the contract instead. An attorney can provide you with guidance on how to best include concessions in the contract, so both the buyer and seller’s interests are protected.