Making Ends Meet: Don’t waste your money on unnecessary upgrades when selling your home

A lot of families look to buy a new home in the summer, so they can be in their new space in time for the start of school. If you’re putting your home on the market, you want to get the most money possible — without wasting money on unnecessary upgrades.

Real estate experts like Julie Bettosini, co-founder and a luxury home specialist with Stockworth Realty Group, are revealing what people can do to make their homes sell faster. The key is to focus on specific updates to get the most for your money.

First: Fresh paint and new light fixtures.

“Two, easy, very inexpensive things that one can do,” explained Bettosini.

Depersonalize your home if you have any bright colors. Pick simple and neutral tones.

Second: Update the kitchen and bathrooms. And that doesn’t always mean a massive renovation. Experts say that even a minor kitchen remodel like refacing cabinets can return 80.5% of the money you spend when you sell.

“Sometimes it’s just refreshing counter tops and a backsplash and appliances just to give it a nice, new look,” added Bettosini.

Third: Focus on the curb appeal. Depending on the time of year, this could include fresh mulch, flowers, and trimmed bushes. It’s the first impression a buyer will have of a home and can increase property value by up to 12%.

“And that really sends a signal to how a seller actually maintains a house behind the walls and the things you can’t see,” said Bettosini.

Don’t forget to declutter as much as possible, including family pictures. You want potential buyers to be able to imagine their own families living in your home.

Things not to waste your money on

Experts at ListingSpark say upgrades that don’t add value to your home, won’t pay off in the end, or won’t sway a potential buyer either way are the ones you can skip. They include:

• Driveway or walkway cracks.

• Minor HVAC or plumbing issues. (You don’t need to spend money updating a working system in the house.)

• New window treatments. (If you have broken blinds, you can just take them down.)

• Don’t replace older carpet or flooring, unless there are stains or a terrible odor from pets. (If you replace either when you’re listing, the buyers may rip it out or change it anyway — which would be a waste of your money.)

Bottom line: Experts say to focus your money and attention on items that are clearly broken and are a significant eyesore.