Selling Your Home? These Are the Upgrades Buyers Actually Want
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.
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Coldwell Banker surveyed over 2,000 Americans in 2021 to find out what upgrades buyers actually want — and these are the projects worth investing in.
Kitchen Upgrades
- Average cost of installing or replacing cabinets: $5,760
- Average cost of refinishing cabinets: $2,997
- Average cost of new countertops: $3,100
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.
Bathroom Upgrades
- Average cost of a bathroom remodel: $11,335
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: $358 to $2,001
- Average cost to upgrade or replace an electrical panel:Â $1,268
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.
New Appliances
- Average cost of a cooktop: $320 (low-end) to $4,030 (high-end)
- Average cost of a refrigerator: $500 (low-end) to $12,000 (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: $1,951
- Average cost to paint home exterior: $3,087
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: $180
- Average cost to install carpets: $1,775
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.
Landscaping
- Average cost to install landscaping: $3,456
Having attractive outdoor space can make your home more appealing to buyers. Of those surveyed, 31% consider landscaping to be essential for buyers.
Refinished Wood Floors
- Average cost to refinish hardwood floors: $1,829
Consider freshening up your wood floors before putting your home on the market — 31% consider this a buyer must-have.
Updated Lighting
- Average cost to install lighting fixture: $541
- Average cost to repair lighting fixture: $196
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.
