Everyone selling a New York City apartment wants to get the best deal possible. The hard part is figuring out what renovations are going to appeal to a broad range of buyers with minimal investment on your part.
If you are thinking about selling your home, small improvements can make a big difference. Increase the value of your home with a plan and a little time investment. Real estate experts in New York weigh in on tried and true ways to increase the value of your New York property.
Here are my top tricks to boost your apartment value without breaking the bank.
New hardwood floors
If you’ve got a carpet with hardwood underneath it, rip up that old stuff and refinish the hidden glory. Hardwood floors look amazing, especially when they’re new. Carpet might be more useful on those cold winter mornings, but your target audience is house hunting with their shoes firmly on.
If you’re laying down new hardwood floors, I would suggest you spend for the real stuff. Imitation wood never looks as good and can cheapen the whole apartment. Hardwood floors also feel different when walked on and make the apartment feel more solid.
Replace your old fridge with stainless steel
Stainless steel screams new. It looks great, usually has good energy ratings, and is a relatively small investment for you; you can get a new fridge/freezer and a range/oven for under two thousand if you shop around a little. It will make your kitchen look far more sleek and modern, and is an easy way to tip a maybe into a yes.
Replace kitchen counters and cabinets
Source: Flickr / Ashley
Kitchens are still the most attractive spaces in a home. The better the kitchen, the more interest you will get. You don’t have to spend $50,000 to completely gut your kitchen. A small investment can transform your space in hours. Replace old, bulky appliances with modern, energy-efficient models. Put a fresh new coat of paint on the walls, fix the cabinets, and consider replacing or refreshing the flooring.
New kitchen cabinets and counters can totally change a space, not to mention getting rid of all that everyday wear and tear. Go for a quality, neutral material (e.g. not granite) that’s easy to match to. Remember: your taste is not necessarily the taste of your buyers, so something versatile is essential.
Add Some Green
Head to the local nursery for outdoor plants and a few tropical plants for the indoors. Adding green to your home sets your property apart from the others. When you choose plants and foliage for the outside of your home, make sure they don’t take over the home. They need to serve a purpose without taking up too much space, and they must be easy to care for. Never underestimate the power of planting a tree.
The longer you live in a home, the more it shows on your walls. The unique colors you chose to decorate rooms in your home won’t impress buyers regardless of how much you love them.
If these walls could talk… they’d say please paint us! Repainting (especially if you do it yourself) is the single most cost-effective way to brighten up your space. First, new paint is a bit like a new car smell – your walls lose their ‘fresh’ look pretty fast. So if you’ve lived in your apartment for any length of time, it’ll likely pay off.
Buy high-quality paint and keep it neutral. When you paint your home with neutral colors, it allows potential buyers to envision their own decorations and color schemes.
Make the home a smart home. Simple and affordable upgrades such as programmable thermostats, whole-house generators, LED lights, water filtration systems, high-efficiency windows, and energy-efficient hot water heaters are attractive amenities when shoppers are looking at listings.
Tidy up your bathroom
We’re not talking a full retrofitting, but a new sink, recaulking and a paint job do wonders to freshen the whole place.
Upgrade your doors
Doors often get neglected but they’re critical to setting the tone of your apartment to potential buyers (the front door in particular). Either refurbishing the ones you have (for example, getting repainted or re-dipped if they’re natural wood) or getting new ones will lift the entire feel of your place.
Clear out the clutter and get organized. It doesn’t matter how clean your home is or how big it is—if it’s cluttered and unorganized, potential buyers will swipe past your home when looking at photos online. The handful of visitors that you do get to view the home won’t stay long. The more attractive your home, the more valuable it is.
Remodel your storage spaces
This is another area where a chat with a professional might come in handy. Getting a custom closet solution or expanding any storage space you have is an inexpensive way to build value.
From the second buyers walk into an apartment, they’re already thinking about what space is going to look like with their stuff. The easier you make it build that vision, (e.g. look at this amazing shoe storage, That’s where I’ll keep my off-season footwear!) the more likely you are to get the offer you want.
Talk to an interior designer
A quick one or two-hour consultation with an expert on how to style your house can do wonders. It’ll help you position your own stuff just so as well as identify weak areas you can tidy up quickly (and cheaply). Plus, it’s always good to get a third party with a bit of distance to check out the place before you get potential buyers in (e.g., does that nude of your Great Aunt Myrtle really need to be on display?)
Inspect it First
Instead of waiting for an inspection to come in from the buyer, have the home inspected first and address any of the concerns before the home goes up for sale. If the home is already inspected, the process is easier and fewer concerns arise for the buyers when it comes time to close.
Renovations before a sale are always a delicate balancing act of investment and return. The key is to identify areas that are important to buyers and pick things that you can do to inexpensively improve those rooms. Kitchens and bathrooms are ripe for improvement, and no matter what choices you do stick to quality materials and simple color schemes. With those guiding principles, you can’t go wrong.
Get to Know your Neighbors
Buyers want a good neighborhood. Your relationship with the neighbors plays a big role in that. When you talk about your friendly neighbors, it gives new buyers a sense of security. Also, the appearance of your neighbor’s home affects the curb appeal of your own. If you have a good relationship with your neighbor, they are more likely to spruce up the outside of their home to help you out, or they are at least more receptive to it if you ask.
These are just some simple steps you can take to improve the value of your home. What are the most successful ways you increased the value of your property before you sold? Let us know.
Remember – your buyers already want to buy your place – all you’re doing is helping them see it in the best possible way.
- 1 New hardwood floors
- 2 Replace your old fridge with stainless steel
- 3 Replace kitchen counters and cabinets
- 4 Add Some Green
- 5 Repaint
- 6 Add Technology
- 7 Tidy up your bathroom
- 8 Upgrade your doors
- 9 Get Organized
- 10 Remodel your storage spaces
- 11 Talk to an interior designer
- 12 Inspect it First
- 13 Wrap up
- 14 Get to Know your Neighbors