Naturally, when your clients put their home on the market, they want the very best chances of selling it quickly and getting a good price. This means making their home as appealing as possible and seeing it through the eyes of a potential buyer. You probably urge your selling clients to de-clutter their homes, clean every room thoroughly and rearrange the furniture to create a more natural flow. However, some sellers might decide to go a step further.

If you have clients in an older home who are considering making major renovations before putting it on the market, you will want to slow them down before they make a costly mistake. While some repairs and renovations can certainly add value and appeal to a home, others can be a waste of money and may even cost your client a sale.

A smarter way to go

Rebuilding, replacing and renovating could seem like good ideas to your clients, particularly if their home is a number of years old. It is common for home sellers to read online or see on TV that certain upgrades will add more value to their home and thereby fetch a higher price. This isn’t always the case, and there are often less expensive ways to draw the attention of buyers.

For example, clients with a garage may be tempted to convert it into an additional bedroom, home office or expanded living space. This often involves finding contractors, obtaining permits, and adding costly electrical, HVAC, and plumbing elements. Your client will most certainly delay a timely sale and may spend more than they will recoup at closing. More practical changes can include installing an organization system in the garage and replacing the garage door. The following are other examples of smarter options to suggest:

• Deep cleaning the existing flooring instead of replacing it with new flooring that adds little resale value and that buyers may not like.
• Upgrading light fixtures and professionally cleaning windows instead of adding a sunroom to allow more light into the rooms.
• Purchasing a home warranty to cover appliances that are still in good working condition instead of replacing them entirely.

Buyers looking at existing homes likely already have in mind the changes they want to make, whether it be repainting the walls, replacing the flooring or upgrading kitchen appliances. Your clients’ major projects could end up doing little to make the sale and might even be the first things a new owner removes and replaces after closing day.