Do Upgrades Affect Home Values In Las Vegas?

Real Estate Agent with Simply Vegas Real Estate

Las Vegas, Nevada -- Imagine two houses for sale on the same street, sitting next door to each other.  Each of them has the same square footage, lot size, number of bedrooms, baths, etc.  The only difference is one of these homes has wood floors, granite countertops, crown molding, six-inch baseboards and stainless steel appliances. The other home has white appliances, vinyl floors in the bathrooms, carpet in the living and family rooms and laminate kitchen countertops.  While the Zillow, “Zestimate” will show the value of these two homes to be IDENTICAL; this could be quite misleading.  Only one of these homes is likely to attract a buyer.  The other could sit for month after month without any offers, because buyers might feel it's overpriced and outdated.


Before placing your home on the market, it’s a good idea to look at some of the model homes being offered by new home builders.  Many of them no longer offer white appliances as an option.  The same is true with oak cabinetry, vinyl flooring and laminate countertops.  Stainless appliances and granite kitchen countertops are now standard features with many builders.  How does this affect you?  If your home appears “behind the times” to a buyer,” then it could be difficult to sell.  As buyers walk through your home, they will likely add up the cost involved with changing these items and either submit a lowball offer or find a more updated home to buy.


There are things you can do to make your home attractive to a buyer.  Many are relatively inexpensive.  Spending $500 - $2000 to upgrade your home could result in a list price offer at or above market value.  For example, white cabinetry is now in style with the majority of new home builders.  If your home has outdated cabinets in the kitchen and bathrooms (oak, maple, etc.) then it might be a good investment to hire a painter.  Colored cabinets with an antiqued or distressed finish are also quite popular.  Add some stainless steel handles and knobs and this is a fairly inexpensive way to modernize your home.  Another popular upgrade is adding a glass mosaic tile backsplash in the kitchen.  This is something found in almost every model home.  It’s also an inexpensive fix. 


While most love hardwood flooring, it can be pricy.  Did you know that there are new products available that look like hardwood for a fraction of the cost?  Many home improvement stores offer ceramic tile and even laminate products that look like wood.  These tiles come in all types of colors, including different shades of gray, brown, etc.  Many of today’s buyers prefer tile or wood flooring instead of carpet.


How much would it cost to replace your white or black stove, dishwasher and microwave with a new stainless steel version?  It probably costs less than you might think.  These items are often on sale at Home Depot and Lowes.  Sometimes you can buy used stainless appliances in excellent condition on Craig’s List for a fraction of the cost of new.  Purchasing new appliances might cost a couple thousand dollars; however, each month your home sits on the market without an offer requires you to pay additional mortgage payments, utility fees, landscape fees, HOA fees, etc.  These expenses add up quickly (especially if your home is vacant.)  Finding cost effective ways to “modernize your home” could result in a faster sale and a stronger offer. 


When selling your home, choosing the right agent to guide you is an important part of the process.  You should hire an experienced agent with enough knowledge to walk through your home and offer suggestions to determine what can be done to obtain the highest sale price.  Hiring the “cheapest agent,” isn’t always a good thing.  Always remember the old expression, “You get what you pay for” 


Bill and Francoise Myers with Simply Vegas Real Estate run one of the most successful real estate teams in the state of Nevada. They are nationally recognized as, "Las Vegas Top Listing Agents," specializing in Seller representation.  They have been featured in numerous media publications including the Las Vegas Review Journal and the cover of Las Vegas Agent Magazine.  They are experts in finding buyers by using internet marketing.  In fact, they have a best-selling book on Amazon entitled, “Clients Are Everywhere.  How To Find Them In The Internet Age.”  Their team has sold thousands of Las Vegas homes. 


Contact The Myers Team at: 702-677-4343


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