This article comes from https://www.realtor.com/ by Stephanie Booth. It talks about the buyers and seller perception of what their homes are and what they see in other homes they look at.
“The upside to envy is that it can be used to propel us to achieve and create,” says Manly. “This energy can be used to thoughtfully create more aesthetically appealing spaces in your own home.” Yes, you covet your neighbor’s new kitchen with a nine-burner commercial range and gold marble counter tops. (You’re only human.) But what can you do to improve your own kitchen? Plenty, and it doesn’t need to cost a bundle; a new backslash, drawer pulls, or a fantastic new faucet can transform the space for relatively little cash.
There are many ways to improve your home when you are selling it and getting a better deal on a home in some cases when you are buying it.
Lets go over a few examples. Selling a home that is updated is way easier than one that is not. When a home is not updated like all the HGTV series homes are then that negatively effects selling your home for top dollar. There are two things to do get a quote on updating your home and do it before you sale like all the flippers do. You can also not do the work and have the quote available for potential buyers to see. Lastly you can price the home according to the market and homes that are not updated.
I would only update it if it made you money. If a new $20,000 kitchen is going to bring you another $50,000 then do it. You need to know the cost of the update and if it will profit you.
If your a buyer then looking at homes that need some updating can get you a great deal. Getting a price on the upgrades can not only get you the perfect home, but should create a higher equity position. Their are less buyers for homes that are not perfect.
Remember when you looking at a home that is not the most popular home on the market you may get the deal of the century. I am personally looking at a home no one wants. I have carefully looked the cost of upgrades and what the approx value of that home is after rehabbed. I then can come up with an offer I am comfortable about.
Buying or Selling a home you need all the real estate services to be successful. Call me I am Brett 216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul l. We have all the services you need to make an informed decision.