Doing Some Upgrading Before Selling Your Home? Consult With Your Agent First

Always good advice when thinking of putting a home on the market to check and see how to maximize the value.

Dear BarbaRA -
sooooo TRUE!  We see this imbalance from time-to-time and it is sad when folks spend money that they may not re-coup or that makes the home off-balance.
Have a happy day -
Lynn

Every situation is different. Have to do upgrades that make sense. Very wise to talk to an agent first.

Yeah, doubling the mortgage isn't exactly the best thing to do LOL. 

Love and light and prosperity in 2014, 

Barbara - You are so right!  Great advice.  I often recommend customers speak to their agent before doing this type of work.  The kitchen remodel is a big one that rarely pays out...unless you don't spend that much.  One of the issues is taste specificity. 

I've found, that usually, granite pays for itself, BTW and that's what most studies show.  It's the cabinets that are the big expense and drain.

Never let a buyer spend money without input from the banker is sage advice. What they think will help their chances of getting a loan, pre approved is not always the best use of money they need for other areas. Same true with sellers, who think this will help or often just want to complete updates they always talked about. But the agent, broker is the one to say hold it, ROI, not going to come back in the sale.

Save your money or reallocate. Pull back on the out of this world kitchen and spread some love around the entire place. To pull it up, have it balanced and to sell quicker for more money, less investment. Listen to your real estate professional who is knee deep in the market. Has the nose to knows which way the wind blows. Also, the higher the price, the thinner the buyers.

Nice job coaching your clients so that they can achieve the highest possible price for their homes. Your clients are fortunate to have you available to represent them.

Great suggestion... so often people run out and spend money that won't return in a sale price because it's not what buyers are really looking for or it's an over-investment for a neighborhood.

Awesome advice Barbara, it is so important to talk first to a Realtor..I had a client who was about to add the 3rd garage and I had them stop.  It would not have added the value to the house due to its location.

Smart thing to do is to ask questions...seek out the answers and pound doors too

It amazes me how many homeowners will plunge into a remodeling project without asking an agent for advice beforehand. And the result is often a disaster.

I've seen this in both directions. Sometimes, sellers go way overboard with upgrades which will never result in an equivalent increase in price. Other times, they try to do too much themselves, which results in a "homemade" appearance that can detract from the value.

This is so important!  I have a seller that is in the same boat as the second one in your post.  They asked me what to do, I told them upgraded laminate counters and new flooring was enough.  A home warranty for the older appliances that were mismatched.  In their price point, it isn't expected for the buyer to get all new stainless appliances.  Thank you for the timely post!

You've given such good advice to sellers out there.  The same update can have a totally different impact on the sale price depending upon the area in which the home resides.  It is very important for potential sellers to save their money if they plan to overspend for their market.

Consult your agent first before doing the upgrades to sell your home. Sound advice indeed. Many homesellers go through expense of unnecessary upgrades.

So true!!! I've been working with many of my seller clients the past few months on choosing updates/upgrades prior to listing their home this spring. So glad some of them asked for my advice before going overboard!