Are you considering selling your home in Fort Wayne? If so, you might be thinking about making a few repairs and upgrades before you list it. Some changes can be lucrative, paying off in the long run. However, not all upgrades are created equal. We will let you know which upgrades to avoid!
Updating and beautifying your home is a sure-fire way to get more potential buyers in the door. However, many sellers make the mistake of making too many upgrades or upgrading things that do not increase the property value. Some people even make upgrades that end up turning OFF buyers! Before you take a sledgehammer to the bathroom wall or make a trip to Home Depot, consider making only necessary repairs and only the upgrades that will pay for themselves by substantially increasing your home’s value.
Don’t Add a Pool Unless YOU are Swimming In It
The price you pay for a pool cannot be added on the the previous value of the home. It doesn’t work that way unfortunately. We have seen people spend over 50k to add a new pool, only to be able to add a couple thousand to their asking price. Unless you plan on swimming in the pool yourself for years to come, a pool will end up costing you more than it adds value. Especially in Fort Wayne where you can only use the pool a few months out of the year. Point blank: A pool does not provide returns.
Don’t Get So Personal
Avoid overly customized designs in Fort Wayne. This can include overly designed kitchens, baths and anything else that you consider one of a kind. Murals, odd light fixtures, etc. Consider toning down bold colored rooms and creating environments that are a bit more neutral. A can of paint is a lot less expensive than a total room redo. And on that note…
Don’t Decide for Your Buyers
Another upgrade to avoid in Fort Wayne: If there are obvious repairs or upgrades needed, don’t make them. They could potentially turn off buyers. Instead, provide a credit to the buyer, so they can have things done the way they want. It can be a great incentive when buyers have the ability to decide on the details of the home. Choosing their own countertops and lighting fixtures can attract buyers. Plus, it’s less you have to do before listing. Point Blank: Don’t make upgrades based on your own taste.
Leave the Basement Alone
Do you have a house with an unfinished basement? If, so… leave it that way. Unfortunately you will not get back the costs you put in to finishing the basement. Buyers may choose to renovate that area on their own terms. If you haven’t renovated it while you lived there, there is no reason to do it now that you are trying to sell. Point Blank: An unfinished basement is best left that way.
Make the Space Intentional
Keep the rooms as they were intended. Extra bedroom? Don’t make it an office, keep it a bedroom. Let the prospective buyers decide how they want to use the space. A room conversion will only knock down the perceived value. A 4-bedroom, 2-bathroom home will get more traction than a 3-bedroom, 2-bathroom + den at the same price. Also, a gym/office/library/breakfast nook can become confusing. Point blank: Plan your space with purpose.
What are the Neighbors Doing?
Take a look at other homes in your neighborhood and keep your upgrades somewhere in the middle. If you go too far with your add-ons, you will be targeting high-end buyers in Fort Wayne which are fewer and farther between. Maybe your neighborhood isn’t known for that. In addition, you will alienate buyers who love your neighborhood but don’t want to pay the high price. The main goal is to sell your home for a fair price, quickly! Point blank: Keep your property competitive within your neighborhood, but don’t take it too far!