This Is the #1 Renovation You Should Make Before Selling Your Home
After buying and selling hundreds of properties over the years, you could say that Scott McGillivray, host of HGTV's Income Property, knows a thing or two about real estate. We recently hosted a live chat on Facebook to ask the contractor and real estate investor for his best tips for homeowners looking to sell.
According to McGillivray, who recently teamed up with Owners.com to give consumers access to the services required to successfully buy and sell a home online, the key to raising your home's value lies in making smart renovations. "Statistically, the majority of people will renovate their homes in preparation for selling it, which is a great idea because if you do the right investments, you're going to make the most return on your investments," he told CountryLiving.com.
Not sure where to start? McGillivray says the most important room in any house is the kitchen-it must be in good condition before you sell.
"I don't think that's a huge mystery to people or a big surprise," added McGillivray. "However, there a fews things you can do on your own, DIY style, to earn that sweat equity and make sure buyers are happy with your home."
Here are McGillivray's tips for renovating your kitchen:
1. If your kitchen needs some work, decide on the amount of work that needs to be done.
McGillivray suggests tackling a few small projects on your own instead of taking on a full gut renovation just to sell your home. "A lot of buyers will want to do what they feel is great for a kitchen," he explained. "However you also don't want to sell a house where the kitchen is in really bad shape." It's about finding that perfect balance.
2. Update the hardware.
"The door hardware in kitchens is super simple to update," says McGillivray. "It's essentially a few screws, standard spacing. It's a few bucks a piece and it can make a huge impact."
3. Pay attention to finishings.
According to McGillivray, remodeling the "jewelry" in your kitchen can make the rest of the space look more updated. "Look at the faucet, the countertop-all of these things can be done without hiring a contractor to tear your whole place apart."
4. Updating your appliances can go a long way.
"People automatically associate the caliber of the space based on the appliances," says McGillivray. If they see nice new appliances, they'll see the whole space as newer too.
Wondering what not to do before you sell your home? See our full interview with McGillivray in the video below:
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