Where should home sellers invest before kitchens and bathrooms.
Tags: Home Improvements
A question any realtor is constantly asked is,
“If we were to spend some money upgrading our home, what area will get the best return on investment?” It's a great question because not only is your house a home, it is also an investment, and as an investment, it's only natural that you will want to consider all the options before spending hard earned money.
The common knowledge or perhaps conventional wisdom answer to this question is “spend on bathrooms and kitchens”. This is a perfectly logical answer as these are two areas of the home that have religiously provided returns of up to 100% or more, and have done so for decades.
However the realtors at Messecar Team have an entirely different response when we are asked this question.
We don’t actually answer the question… we first ask a question ourselves.
And that question is…
“How is your roof, air conditioner and furnace?”
It has been our experience with countless Barrie and Simcoe County homes that these three issues are the variables (perhaps wildcards?) that can quickly negate great bathrooms and kitchens when it comes to selling. If a potential homebuyer feels they need to either replace or put any kind of substantial investment into a roof, furnace or air conditioner it's a massive turn off that they will struggle to get past.
No one enjoys spending on these basic foundational elements so if any of these types of things need some attention, it is our recommendation that you spend your money there before putting it into your kitchen or bathrooms.
While we’re on this topic, one other thing we would be remiss to not mention is homeowners always need to mind the bigger picture when it comes to investing in your home. We’ve seen situations where people with four bedroom homes that have only one bathroom have invested in their kitchen when a second bathroom would have been a much wiser (and profitable) investment.
For this reason, we openly encourage anyone, whether they are clients of Messecar Team or not, to reach out to one of our realtors before they invest in their home.
We’ll happily give you our opinion and suggestions on any investment, even if you have no intentions of selling your home.