The two questions my clients ask me all time is, “if I do this and this, will I get my money back” or “I have done this and this and want my money back when I sell”
Let’s tackle the first one: If I do this and this before listing, will I get my money back when I sell?
The answer is “No” you may not get a 100% return on the upgrades you have completed just before selling your house. It’s about making your home more ‘Desirable’ than competing properties. Being more desirable will get your home sold before the competition. These are low investment items like counter-tops, painting, changing light fixtures or changing the hardware on cabinets. A few inexpensive items can make a big difference in presentation.
When it comes to getting your money back for upgrades or features you put in over the years it’s not a “yes” on that one either. Over the years the upgrades or features you invested in were for you and your family to enjoy. In most cases, you have had many years of enjoyment, for instance, the theatre room, the new shower, the fenced backyard, the flooring. Do these add value? Absolutely they do. Will you get 100% return? No, you won’t.
It will make yours more desirable than the competing properties. Also, the items your family enjoyed were a big part of life in your home with your family but may not be important to the buyers.
I recently toured a home with a young family. The home had an amazing theatre room and wet bar in it. It was priced a good amount over the other ones in the neighbourhood because of this entertainment room. My young couple saw this area as a negative because they needed the living space more than a theatre room and a wet bar.
Our team of experienced listing agents will tour your home and give you the best advice on items that will give you the ‘desirability’ factors that will get your home sold. Enter your info in this link and we’ll get you started on your home selling journey.