Here in the East Bay, we have a lot of very old homes. Many are at or nearing the century mark.

This creates unique challenges, especially as the market continues to shift.

Buyers' expectations about a home’s condition have increased as prices moderate and interest rates rise. But many homes have typical “old house” problems. There is a disconnect between home buyer’s dreams and reality.

When the real estate market was moving fast and appreciating rapidly, buyers felt lucky just to get in a home before the prices outstripped their budget. Now, buyers are much more interested in finding the best value for their money. As a homeowner, what can you do to close that gap between reality and buyers’ expectations and get a good price when you decide to sell your home?  

There are five projects homeowners should consider to improve their homes and make them more appealing to buyers in this new environment and beyond.

Most people immediately guess these are sexy things like a remodeled kitchen or an updated bathroom. While those are great, there are other things that matter a lot more.  

As a homeowner, you should consider the following:             

New Foundation: Nothing scares a buyer more than foundation problems. They really impact the sale price of a home. Buyers do not always differentiate between large and small foundation problems, either. It is a good idea to have your foundation looked at by a structural engineer to make sure it is in good condition. Consider fixing the problem or replacing it entirely before you decide to sell.                                   

Seismic Retrofit: Natural disasters are top of mind with buyers these days in ways they weren’t in the past. Consider a seismic retrofit to your home. If your home has been retrofitted, make sure it is up to date with current standards.          

New Windows: Replacing all the windows in your home at the same time can be expensive. Doing a few at a time spreads out the cost. When you are ready to sell your home, there will be new windows throughout. Buyers always scrutinize windows.

Update Systems: Mostly this means install air conditioning, but perhaps it's time to get a new furnace as well. As our summers get hotter and we live through smoke from large fires, having a place inside to stay cool is becoming more necessary. Air conditioning is definitely one of the first things buyers ask me about.

Add a Second Bathroom: Even 2 bedroom houses could use a second bathroom, or a half bath. Parents and other family members are frequent guests and stay for longer periods of time. As such, any additional bathroom space is golden. A bonus is that adding a second bathroom means that if the new owner wants to update the main bathroom, they will have a bathroom to use during the construction. Buyers definitely think about that. Maybe you can squeeze a half bath in the laundry room. Maybe there are a couple closets you can steal for a primary suite.                       

The great thing about these 5 upgrades is that they never go out of style. Homeowners who spent a lot of money creating an open concept home have found the trend shift during the pandemic to more defined rooms that can have multiple purposes. A new foundation or air conditioning will always be in demand.