These Upgrades May Help to Sell Your House in a Cooling Market

Good afternoon, with mortgage rates now past 7%, it is not surprising that home buyers are much harder to come by and much easier to be turned off. With this in mind, if you are thinking of putting your house on the market, making small cosmetic improvements that buyers care about could make a world of difference between getting your asking price or accepting a lower negotiated price. Realtor.com. states that between mid-July and mid-August, about 95% of home sellers made updates or repairs before listing their properties. An average of $14,163 was spent on said updates or repairs.

 According to an article in the Wall Street Journal, the top three interior remodeling projects with the highest return on investment are a hardwood-flooring refinish, new wood flooring and an insulation upgrade. A hardwood-flooring refinish has a 147% cost recovery. This means you are likely to recoup well over 100% of the cost, while a kitchen upgrade has a 67% cost recovery. 

Keep in mind your upgrade does not have to always be costly. A coat of paint can work miracle. Make sure to pay attention to the hue. A bright shade of pink or cherry red would not be a good choice. Think of a paint color that would make anyone feel welcome. Here are a few suggestions that will not only make the new home buyers feel welcome, but will also make your home look bigger, more appealing and brighter:

• Benjamin Moore Simple White
• Behr Snow Fall
• Benjamin Moore Swiss Coffee

Although not an upgrade or repair, a deep cleaning could potentially add a few extra thousand dollars to the sale price of your house. This is one of the things that I always pay to have done for my home sellers. After all is said, you really only want to focus on the items that will matter to the new buyer. Oh! and never forget curb appeal. Dead leaves and dry lawn are never appealing. As always thank you for stopping by. Until next time...Diana

Diana Walton Broker
Astor & Eaton Realty
713.208.8013
Write to Diana Walton at homes@astoreaton.com
“We do more because we care more”