Home Renovations that Sell

Not all home renovations are created equal. If you’re like most Americans, your home is probably your biggest investment. You want that investment to perform as well as possible, so if you’re planning on selling in the near future, it just makes sense to do as much as you can to boost its value. For many homeowners, that means making some upgrades to make your house more attractive to potential buyers. To ensure you’re making renovations that will actually appeal to consumers and pay off handsomely, read on to find out which upgrades will give you the most bang for your buck.

1. A spruced-up exterior. When a buyer arrives at your home, you only get one chance to make a first impression. That’s why one of the best home renovations you can invest in is enhancing its curb appeal. Making changes to your home’s exterior doesn’t have to cost a fortune, either. Curb appeal can be improved by some basic efforts such as power washing the exterior and adding some landscaping. Consider refreshing the mulch, trimming shrubs, and planting colorful seasonal plants. Of course, making more major upgrades to your home’s exterior, such as new garage doors or replacement siding, shouldn’t be overlooked if they’re necessary.
2. Budget-friendly kitchen updates. As the “heart of the home,” most experts agree that the kitchen is key to improving a home’s appeal and value. Kitchens are the focal point of almost every home showing and an impressive one will almost always make the difference between an average offer and the maximum. Investing in the kitchen makes a lot of sense, as studies have shown as many as 80% of homebuyers list the kitchen as their favorite room. And when your kitchen is updated, buyers may also be more forgiving of other outdated areas. You don’t have to spend a fortune to make a big improvement in your kitchen. A minor facelift could include painting the cabinets or getting new cabinet doors, installing some new appliances, upgrading countertops, and/or switching out cabinet hardware.
3. Remodeled bathrooms. If your bathrooms are outdated, this is another place where relatively small updates could make a big impact. After kitchens, bathrooms are the second most important room when selling a home. Studies have shown that even a minor bathroom remodel can provide a 102% return on investment, and you don’t have to spend a fortune to make a big difference. Consider re-grouting tile; removing and replacing the caulk around the shower, tub, and toilet areas; and perhaps replacing the toilet if it’s outdated. Replacing mirrors and fixtures can also go a long way to improve the look and feel of a bathroom.
4. A fresh coat of paint. Painting your home’s interior is one of the least expensive updates you can make and also has one of the best returns on investment. The effect that a clean coat of new paint has on a property shouldn’t be underestimated. New paint lightens rooms, hides visual defects and instantly makes a space feel fresh and clean. The colors you select should be neutral in order to offer universal appeal.
5. Install new flooring. Flooring makes a huge difference in how your house comes across to buyers and upgrading it can make a big impact. Today, many buyers place a premium on hardwood floors. Installing hardwood can be costly, with popular woods running around $5 to $10 per square foot plus the cost of installation, but you can recoup as much as much as 80% of that cost when it’s time to sell. If you’re on a tight budget, focus on replacing the floors in public areas such as the kitchen, family room and living room, while opting for less costly carpet in the bedrooms.

By spending your renovation dollars on these high-return projects, you can greatly enhance the appeal and value of your home without tremendous effort. For more home renovations that can improve its value, please reach out to our knowledgeable team.

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