We are excited to partner with local realtor Stasia Rice of Avenue Realty for our next few episodes! Stasia has been a REALTOR for over a decade and uses her experience as a designer and stager to help support her clients. In addition to realty, she is co-owner of Make it Home Staging and Design in Ruckersville, Virginia!
The first episode in this series will cover home improvement projects that can increase the value of your home, both if you plan to live there or if you want to get ready to sell. Please note; some of the advice in this episode may be location-specific. Please consult your local realtor before getting started.
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Most Common Ways to Increase Resale Value
Depending on your situation, the remodels and renovations you do before selling will vary. Stasia said this question tends to come down to how long you want to stay in the home. For investors or flippers starting out with an older, basic, or run-down house, Stasia says projects such as kitchens, bathrooms, flooring, painting, and fixing any other significant issues are the first steps. It is also beneficial for those homes to upgrade plumbing and electrical if needed.
If you have a shorter-term goal and want to sell your home sooner, some of these renovations may not require going this in-depth. One of the most significant areas is painting, both interior to give rooms a fresh look and exterior to enhance a home’s curb appeal and wow factor. Instead of your standard white, a neutral color adds more tones for a homeowner. Flooring can also be another inexpensive project to undertake in your home if you are dealing with older flooring, restaining a current floor, or replacing it if needed. One of Cardinal’s flooring options we have seen that is effective is CoreTec, which makes a floating floor that appears as a tile while still being waterproof.
Stasia also recommends even if you don’t have the resources for significant home improvement projects, buyers are still drawn into a clean and fresh home. This means that kitchens and bathrooms, as long as they are well-kept, may not require too much of an investment for resale. Along with this, simple fixes like painting trim and replacing hardware can make a big difference. Other minor fixes can include painting cabinets.
Last, Stasia sees clients getting a lot of return on their investment by adding additional square footage, which may be as simple as repurposing existing rooms in your home. Attics, basements, and rooms above garages can become great bonus spaces that families can turn into additional living space, bedrooms, or more.
Projects to Stay Away From
If you are thinking about moving in the near future, Stasia recommends staying away from larger-scale projects such as building patios or decks. Typically, a kitchen or bathroom remodel before sale is only recommended if they have significant deterioration. Small projects like the one above are perfect before selling a home. One important consideration is that the buyer coming into the space will most likely want to make it their own. If the layout isn’t ideal or some spaces aren’t functional, it may be best to let the next buyer configure the space in a way they see best fit.
When to Start Home Improvement Projects
Ideally, allow yourself at least six months to plan and execute home improvement projects before a sale. Before starting, walk through your property, inside and out, to identify areas of immediate need and ones that might be nice to address if time and budget allow. Apart from the timing it takes to prepare a space and line up potential resources and contractors needed, this timeframe gives some space to properly budget for expenses and reduces stress. Depending on the project, hiring a contractor to fix the problem may be better than trying to do it yourself. It is also important to keep the timeline in mind when you are working on projects, especially if you plan to live in the home at the same time. Avoid repairing too early so you do not run the risk of damaging it while you are still in the home.
“If what you can produce, you would pay good money for…then great.”
Other Considerations for Preparing for Sale
As you are getting ready to go to market, Stasia says some level of staging is vital so buyers can see themselves in your home. It is important to not cover up anything you want to show off to the buyer, such as natural floors or spacious rooms. Additionally, the fewer distractions, the better – this can be items as simple as decluttering countertops, adding artwork instead of photos, and adding furniture that makes sense. You want a space to tell a story, what you could use it for, and how the right scaled furniture could work in a space. Online presence and marketing are also vital to work with your realtor to ensure your home is ready to sell when buyers walk in.
We want to extend a warm thank you to Stasia Rice for her time and expertise in recording this episode. This episode is designed to give you a general idea of your project. Please consult our team members to make recommendations for your specific needs.
Cardinal Home Center is a locally-owned home improvement and building supply store servicing homeowners and contractors throughout Central Virginia. Since 1987, we have built a strong reputation by offering premium home improvement brands, quality building supplies, and exceptional customer service. Learn more by visiting cardinalhomecenter.com. See more of our previous episodes for more home improvement advice and inspiration.