Replace cabinet hardware, no bathroom carpet!
Try these tips to increase your home's value
By Laura Musall, for the Indianapolis Star
When my husband and I bought our home in 1996, we didn’t love the floral wallpaper in the dining room or the swag lights and carpet in the bathroom. We understood that if we wanted a house in Fishers that we could afford with a decent lot, mature trees and within walking distance to the park, we might have to make some sacrifices. That was a common mindset.
This is 2023. Most buyers don’t think that way. Most buyers – regardless of age – don’t want to do a bunch of updates after buying a house. They’d rather you update the flooring than offer them a credit for new floors. They don’t want to go shopping for appliances, and they definitely do not want to remove wallpaper. They are willing to pay more for a home where they can move in and begin enjoying their new digs.
You may be thinking: “I thought this was still a seller’s market.”
It is, but this is not the same unprecedented seller’s market we experienced in 2021 and 2022 when buyers were submitting ridiculously high offers. As interest rates have climbed, and as inventory has picked up, homes aren’t selling as quickly. According to FC Tucker’s monthly Market Watch, sales have decreased about 20 percent in the 16-county area of central Indiana in August 2023, compared to August 2022. Inventory was up almost 24 percent.
There are things you can do to increase the value of your house without having to do a complete remodel. Here are my top five.
1. Update flooring. First, if you have carpet covering hardwood floors, rip out the carpet and refinish the floors. This should get you at least a 100 percent return on your investment. Buyers prefer homes with little to no carpet, and they also want homes with matching flooring. Too often I see houses that have a mishmash of carpet, hardwood and vinyl. This makes the house look choppy. You’ll increase your home’s value, if you have the same flooring throughout. It makes rooms look larger and updated. Choose classic, timeless neutrals. Stay away from dark colors, which show every speck of dust, and gray, which is beginning to look dated.
Buyers appreciate flooring that matches throughout the house, which will also make your home look bigger. This home sold the first day on the market for more than the list price.
2. Paint. A fresh coat of paint can be transformative. Choose light, neutral colors, which will make rooms look larger, lighter and more inviting. Don’t forget ceilings and trim. If the trim in your house has yellowish tones, popular with builders in the 1990s and early 2000s, consider changing it to a bright white. I know from experience how tedious painting trim can be, but the results will be worth the sweat equity. (See story: Why i’m ending my love affair with gray.)
Pro tip: If you’re getting ready to sell, don’t put artwork, plaques or photos back on the walls. Give buyers a fresh palette, and this gives you a chance to get a jump start on packing for your move.
3. Modernize the kitchen. You don’t have to replace cabinets and countertops (unless, of course, they are damaged or like you’ve stepped back into the 1990s or beyond). Consider replacing cabinet hardware in either brushed nickel or oil bronze. Keep it simple. If replacing hardware, don’t forget to update hinges to match. If your cabinets are not in good condition or paint is chipped, consider having them painted white. Another way to update your kitchen is to add a backsplash that’s simple, neutral tile. Of course, appliances need to be updated and working.
Sellers added a subway tile backsplash, updated hardware, lights and appliances and painted the center island. Their house sold in a day this summer for more than $50,000 over the list price.
4. Freshen bathrooms. If you only have the budget to update one bath, always start with the primary bath. Replace outdated fixtures. Update faucets and cabinet hardware, too, making sure everything has the same finish. If you still have carpet in your bathroom, it must go. Ceramic tile is popular, but depending on the style and price of your home, you also could choose vinyl. Good realtors will help you select the best colors that are appealing to buyers.
Pro tip. Fixtures, faucets and hardware can get pricey, so check out a local Habitat for Humanity ReStore or a surplus store, such as Jiminez Discount on the southeast side of Indy.
This updated bath feels like walking into a spa.
5. Let in the light. Too often we overlook the benefits of natural light. Homes that are light, bright and airy (no clutter) look more expensive, larger and are more inviting. It’s OK to have windows without curtains or drapes. If you want window coverings, install them around and above the window so you aren’t blocking natural light.
Natural light helps brighten up homes, makes them more inviting and even feel larger.
If you want to go the extra mile, take it outside. Buyers love great outdoor spaces that offer some privacy. Invest in trees and shrubs to provide a screen from neighbors. Your home should bring you joy and peace where you can relax. When you’re ready to make a move, all those updates will pay off.
Realtor Laura Musall with the F.C. Tucker Company writes a monthly article in the Indianapolis Star about the Indianapolis area real estate market.