It’s a strange year for real estate. More accurately, it’s a strange year for everyone! 2020 has turned almost every industry on its head. It’s logical to expect the buyer pool to be a bit smaller due to job uncertainty and unemployment, but mortgage rates are at an all-time low and economists don’t expect them to go up anytime soon.
So, what does this mean for home sellers? Don’t be afraid to put your home on the market! “An attractive property marketed and priced properly will attract multiple strong buyers,” says real estate attorney Rajeh Saadeh. New homeowners can borrow at lower prices, creating more demand for your home. Of course, you can help that demand along with a few home improvement projects.
Improve the Exterior
Even if you are only considering selling your home, you’ve heard of curb appeal. First impressions are important, and upgrading elements of your home’s exterior is the best way to pique the interest of potential buyers. A new garage door, landscaping elements, or shrubbery will never go amiss.
The kitchen is an area that can get expensive to upgrade. This is because there are so many possibilities and new gadgets that you can add to make your kitchen more appealing. Begin with the elements that need upgrading (outdated appliances, countertops, flooring, etc.) and keep a strict budget.
The bathroom is another important room in your home. Comfort, design, and accessibility are important to potential buyers, so it’s important to do any necessary additions or upgrades in the bathroom. Check out our blog on bathroom renovation ideas to make a plan.
Siding and Roof Replacement
While these might be the two most expensive projects on your list, they’re also the two projects that, if not completed, will turn away buyers the fastest. Bad siding or a problematic roof are not issues that new homeowners want to solve – they’ll just move on to the next listing. There are many types of roofing and siding projects, and the extent of yours will depend on the state of your home. It’s a good idea to get an estimate before you begin.
While the real estate market might ebb and flow, selling your home is always a stressful time. You want it to look its best to attract the right buyer, and we can help. Contact Minnesota Home Improvements to get started.