Would you believe that homes in which homeowners have done improvements or upgrades on sell 30% faster than homes with no upgrades? It’s true!
According to a recent analysis by Knock, homes with modern renovations sold in an average of 8 days compared to 12 days for those without home improvements. Homeowners who made two or more improvements decreased their days on market even more, selling in an average of 6 days, nearly 40% faster than homes with only 1 renovation.
The top five improvements that buyers love most and are most desirable are located in the kitchen and bathroom(s). These two rooms have long been the apple of many buyers’ eyes and can easily leave a lasting impression when viewing a home.
You don’t need to hire a contractor or re-design your entire home—simple changes can make huge impacts on your home! Fresh paint on the walls and cupboards (if they’re outdated), new carpet or laminate flooring, a bathroom vanity upgrade, pressure washing the exterior of the house and touching up paint on exterior moldings.
Here are some more ideas a visual from Knock on home improvements you can make:
Analysis was conducted on Knock Home Swap transactions within the 70 markets we currently operate in from 2020 to year-end 2021. The top renovation selections were ranked based on the average days on market from a home’s listing to the time it went under contract.
Sources
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Zonda. “Zonda Residential Remodeling Index.” www.remodeling.hw.net, 2021, https://www.remodeling.hw.net/benchmarks/economic-outlook-rri/rri-strong-remodeling-growth-despite-supply-chain-constraints_o.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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