If you’re currently selling your home to take advantage of the hot real estate market, you may want to make a few upgrades before listing so that you’re able to get the best offer possible. But don’t waste your money on renovations that buyers don’t actually care about.
Coldwell Banker surveyed over 2,000 Americans to find out what upgrades buyers actually want — and these are the projects worth investing in.
Average cost of installing or replacing cabinets: $5,050
Average cost of refinishing cabinets: $2,850
Average cost of new countertops: $3,000
Kitchen upgrades, such as freshly painted cabinets, new cabinets and new countertops, are the No. 1 thing buyers want, with 45% of those surveyed saying that this is a must-have.
Forty-four percent of those surveyed consider upgraded bathrooms a must-have.
Updated HVAC, Plumbing & Electrical
Average cost to replace an HVAC system: $7,000
Average cost to replace plumbing: $350 to $2,000
Average cost to upgrade or replace an electrical panel: $1,182
Only 19% of those surveyed consider updating their HVAC, plumbing and electrical systems a must-do update before selling their homes, yet 43% consider this a must-have if they were to buy a home.
Average cost of a cooktop: $320 (low-end) to $4,030 (high-end)
Average cost of a refrigerator: $430 (low-end) to $10,600 (high-end)
Average cost of a washing machine: $445 (low-end) to $2,300 (high-end)
Average cost of a dryer: $445 (low-end) to $2,100 (high-end)
Buyers are seeking homes with new stoves, refrigerators, washing machines and dryers — 38% consider this a must.
Updated Interior or Exterior Paint
Average cost to paint home interior: $1,901
Average cost to paint home exterior: $3,042
Both sellers and buyers are aligned about the desire for a fresh coat of paint — 34% of sellers say this is a must-do upgrade and 34% of buyers say this is a must-have upgrade.
Carpet Cleaning or Installation of New Carpets
Average cost to clean carpets: $178
Average cost to install carpets: $1,762
Unsurprisingly, buyers do not want to buy a home with dirty or worn carpets. One-third of those surveyed say that cleaning or installing new carpets is a must-have for buyers.
Having attractive outdoor space can make your home more appealing to buyers. Of those surveyed, 31% consider landscaping to be essential for buyers.
What Adds More Value to Your Home: Indoor or Outdoor Upgrades?
Refinished Wood Floors
Consider freshening up your wood floors before putting your home on the market — 31% consider this a buyer must-have.
Thirty percent of those surveyed said that updated light fixtures would be a must-have if they were to consider buying a home.
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All cost estimates are sourced from HomeAdvisor.
Last updated: Sept. 30, 2021
This article originally appeared on GOBankingRates.com: Selling Your Home? These Are the Upgrades Buyers Actually Want