6 Profitable Home Updates to Increase Your Value

#1 Basic repairs

Sure, it’s not as sexy as some updates – but this one yields some serious return on home-sellers’ investment. If yours is one of Minneapolis’ 83,000+ homes that are more than 80 years old, basic repairs will probably be on your to-do list. For example, you may need to:  

• Address plumbing problems 
• Repair or replace old, damaged flooring 
• Get rid of pests such as termites 
• Deep clean or remove debris from your yard
• Swap hardware, lighting fixtures, and new appliances
• Tackle mold and mildew (which is common due to the amount of precipitation Minneapolis gets)

And these are just a handful of examples, some of which you may know you need and others that will come to light during your pre-listing inspection.  

#2 Carpet replacement

Carpet is a popular flooring choice for smart Minnesotans who want to keep their feet warm through the winter. But the downside the carpet is that old, stained, or faded carpeting is a huge red flag for buyers. When was the last time your carpet was replaced? If it’s been a while and it’s stained from foot traffic or spills – it’s time to replace it. You want buyers to be charmed by your home, not put off by something as simple as ugly carpet. This is one of those Minneapolis home updates nearly every seller needs to consider.

And not only can brand new carpeting refresh the look of your home but it can also reduce unpleasant odors and improve indoor air quality, making buyers more comfortable while they’re touring your home. While these may seem like minor details, they can play into your hand as a seller. 

#3 Upgraded outdoor living space

According to Redfin, lawns are one of the top home improvements sellers can make and are currently trending up. So to make your house the center of an all-out bidding war, make sure that your lawn is lush and that any plants in your front and backyard are neatly manicured.  

Keep in mind that plants should be both low-maintenance and durable enough to withstand the weather (including Minneapolis’ heavy snowfall). Some popular bushes and shrubs include boxwood, Champlain roses, and Blue Shadow Fothergilla. And hardy trees include Bur Oak, Red Maple, and Northern White or Eastern Red Cedar. 

Additionally, consider staging your outdoor spaces such as your porch or backyard to make them look more enticing. For example, an outdoor fireplace and cozy seating area in the backyard can help buyers see themselves there! (Just don’t forget the all-weather furniture!) And the better they can visualize it, the higher the chances that they’ll be willing to make an offer.

#4 Interior and exterior painting

Most real estate agents recommend that sellers paint their homes before listing and we’re here to tell you that they’re absolutely right. Faded, scuffed, or chipping paint can ruin a home’s look and give buyers the impression that it’s poorly maintained. Not to mention that unusual color choices can make it more difficult for buyers to see your home as their blank canvas, which can make it harder to generate serious interest and multiple offers.  

That said, painting before putting your home on the market is one of the simplest ways to get a better outcome. Just be sure to choose a neutral color palette for both the interior and exterior of your home; that’s the key to attracting a broad set of buyers.