Even as the housing market shows signs of slowing down, it is crucial to explore strategies to make the most of your home sale. Below, I have outlined key investments that buyers are seeking and common pitfalls to steer clear of before putting your home on the market. Let’s dig into the details and begin your journey towards a successful sale!

Undertaking home improvement projects aimed at reducing utility bills can have a positive impact on the overall value of your property. By investing in technology upgrades, homeowners can enhance the appeal of their home while also improving its comfort, functionality, energy efficiency, and convenience. According to a 2024 study conducted by Green Wave Distribution, a company specializing in heating systems, implementing measures such as installing proper insulation, sealing air leaks, and adjusting thermostat settings can result in significant savings on energy expenses, amounting to over one-third of the total bill.

The kitchen is often considered the most important room in a home when it comes to selling. Even small upgrades in a kitchen can result in a significant return on investment, with returns ranging from 70-85%. Upgrades can include updating cabinets with new fronts or a fresh coat of paint, installing new hardware, replacing sinks, and updating flooring. It is important to ensure that any renovations done in the kitchen complement the overall style of the rest of the house. A luxurious kitchen in an otherwise average home may not appeal to potential buyers.

Bathrooms play a crucial role in the overall appeal and value of a home. A poorly maintained or outdated bathroom can dissuade potential buyers and significantly decrease the market value of a property. However, making relatively minor improvements can greatly enhance the attractiveness and marketability of a home. By incorporating contemporary fixtures, maximizing space utilization, and incorporating eco-friendly features, homeowners can significantly increase the selling price of their property. An investment in updating a bathroom can potentially yield a return on investment of up to 67%. This demonstrates the significant impact that a well-designed and updated bathroom can have on the overall value and desirability of a home.

Outdoor living spaces in homes have evolved from basic patios and decks to become more elaborate extensions of indoor living areas. This change reflects a preference for outdoor leisure and recreation. The popularity of outdoor living spaces has increased in the real estate market, making them a desirable feature that can enhance a home’s resale value and appeal to buyers looking for a seamless indoor-outdoor experience. Outdoor spaces differ depending on the location, but anticipate a return on investment ranging from 50% to 80%.

Some prospective home buyers might decide on purchasing a house solely based on its exterior appearance, without even stepping inside. This highlights the importance of curb appeal. Improving the exterior, in addition to interior renovations, contribute to the long-term value of the property. The return on curb appeal projects can vary, with sellers typically experiencing a 7% increase in home value after updates. Landscaping and hardscaping projects often result in close to a 100% ROI, especially in high-demand areas. Simple yard maintenance and adding new mulch can increase home value by roughly $4,500, while fresh paint can boost resale value over $7,500.

The desires and preferences of homebuyers have been significantly impacted by the COVID-19 pandemic, particularly in terms of the features they seek in a home. One enduring trend that has emerged is the growing demand for specific in-home features that cater to remote-based work. This shift in priorities has heightened the importance of having a designated home office or flexible workspace within a residential property. The Zillow Consumer Housing Trends Report highlights that a majority of potential homebuyers, amounting to 64%, consider having an additional room that can be utilized as a home office to be a crucial factor in their search for a new home. This underscores the significance that individuals place on having a dedicated workspace within their living environment.

A dimly lit room can create a negative impression on potential buyers, causing them to lose interest. To make the space more inviting, consider replacing bulky curtains with sheer ones or eliminating them altogether. Additionally, enhance the lighting in rooms that appear dull or consider painting the walls in lighter tones to make the space feel more vibrant and spacious. Brighter rooms make buyers feel comfortable in a cozy environment, and is worth the investment.

Creating a positive first impression starts as soon as potential buyers catch sight of your property from the street, making it essential to pay attention to this aspect. Revamp the front door and weather-beaten fencing and window frames with a fresh coat of paint. Invest in new, eye-catching house numbers, door handles, or door knockers. Clear away cobwebs and dirt with a thorough hosing down, and remember to maintain clean gutters. Remove any clutter and debris from the exterior. Enhance your outdoor lighting for added appeal. Ensure your garden is neat and consider adding more greenery if it looks bare. Most buyers prefer to purchase a home that is in good condition and does not require any additional work that should have been done by the previous homeowner.

Studies have indicated that only a half of the population actually desires a pool, thus limiting your potential buyers significantly. Adding up the expenses of construction, increased insurance fees, the cost of installing a fence, and ongoing maintenance fees, swimming pools provide minimal additional value to your property. Hot tubs and swimming pools are often seen as unnecessary expenses and families with young children may view these amenities as potential dangers rather than as attractive features. Unless you live in a consistently warm climate for at least half of the year, having a pool can often be more of a hassle than it’s worth.

Real estate listings still promote wall-to-wall carpeting but many home buyers now avoid it due to concerns about chemicals used to process it and increased allergens. Installing wall-to-wall carpeting may not yield a return on investment and can decrease home value. It is often recommended to replace carpet with wood flooring, as it is more desirable to buyers in many areas. Carpet typically has a lower return on investment (ROI) compared to hardwood or other flooring options. It is common to only recoup around 25% to 40% of the initial cost of new carpet when selling a property.

Throughout our lives, we tend to collect various items, including sentimental ones that may no longer serve a practical purpose in our daily lives. Nonetheless, it’s crucial to understand that what appeals to your individual style, like a bold accent wall, may not appeal to a larger audience of potential buyers. Ultimately, the objective is to present your home as a flexible environment where potential buyers can imagine implementing their own personal style. A better approach to increasing your chances of selling is to choose neutral colors and classic decor that can appeal to a wider audience as a starting point for customization.

When purchasing a home, potential buyers often prioritize having a spacious garage that can accommodate their vehicles as well as provide storage space for various items such as sports equipment like surfboards, kayaks, and bikes. Older garages may have limited space and low ceiling height, but it is important to consider the presence of sturdy beams that can be utilized for hanging and organizing sports gear and tools. The size of the garage is important to ensure it meets storage needs. Overall, a well-designed and functional garage can greatly enhance the overall appeal and usability of a home for potential buyers.

Many of the suggestions provided can be easily addressed or prevented in order to maximize the value of your property. Zillow suggests that when determining the listing price for your home, it is wise to make sure it is within 10% of the average selling price in your neighborhood. It is crucial to examine recent data on home sales from the past three months, as this is the timeframe usually taken into account when appraising property values using comparable sales. Make sure to consult your real estate agent on different strategies to increase the likelihood of a successful and lucrative transaction.