When a homeowner is considering selling their property, they usually ask themselves: “What improvements can I make on my home in order to increase my value and get my best return on investment.?” Unless you are in the world of real estate and/or contracting, it may be hard to determine where your dollars are best spent.
I wrote this article to help homeowners get the most bang for their buck when remodeling their homes when considering the resale value. Of course, there are a million different things you can do to increase your property’s value, whether affordable or expensive. I tried to create a list that offers a little bit of both so it can be helpful whether you have a small or large budget. These improvements are my professional opinion as someone who has seen many remodels be completed.
1. Kitchen Cabinet Repaint/Stain and Replacing Cabinet Knobs/Handles
When it comes to the kitchen, the cabinets are the first thing most people’s eyes gravitate to. You would be surprised how much of a difference a stain or repainting on your cabinets can make. Additionally, by replacing all of the knobs and handles with a more up-to-date style, you’ll make the kitchen cabinets look brand new. Depending on how many cabinets you have, it should be a fairly in-expensive project. If you have the skillset, you may even be able to do it with a buddy on a weekend!
2. Updating All Ceiling Fans and Light Fixtures
It may not seem like a big deal to have some cleaned-off old light fixtures and fans on your ceiling bedrooms but when a room is empty and it’s the only thing in the room you can see besides the wall, boy does it stand out! Only replace these in the most essential rooms if you need to minimize your budget, like the dining area or the master bedroom.
3. Deep Clean the Carpets (Or Get Rid of Them All Together)
Nobody likes the look or smell of old carpets when they are walking into a house they want to buy. Over the years, dirt can really accumulate down there and create a funny smell and an even worse look. Ideally, it would be best to replace it with laminate or vinyl flooring but if you don’t want to go through the trouble, at least hire some professional carpet cleaners to freshen up the place.
4. Replace The Garage Door and Front Door
One of the most inviting things a buyer can experience when approaching your home is a beautiful garage door and front door. As they say, first impressions are everything, this is no exception. By replacing these items, you’ll increase your curb appeal and attract more buyers to tour your property.
5. Power Wash Your Property Exterior
A few hundred dollars goes a long way when you use it to power wash your home’s exterior. This is a great alternative to a complete paint job if that is not in your budget. This will give your property that ‘fresh’ look when buyers come to take a tour.
6. Open Up the Floor Plan
A lot of older homes have an interior design that is not up to style with today’s trends. Buyers today are looking for open floor plans for their living, kitchen, and dining area. If it’s in your budget to get rid of a wall or two to open up the entire space, it may be a good idea. Before starting a project like this, I would suggest you consult with a real estate professional to see if it will yield the results you are looking for on resell value.
7. Get A New Roof
Both new and experienced buyers are always going to ask the question “how’s the roof?” It’s always good to have a positive response to that question. The cost of a new roof can be steep so this is another investment you want to consult with your real estate agent to make sure it will be worth it!
The 2 Improvements That Will NOT Be Worth The Investment.
1. Adding a Pool
Adding a pool is a great idea if it’s something you want to enjoy to enhance the lifestyle at your home. There is a lengthy process of permits and construction. As far as an investment, you probably won’t get your money back. If the buyer would like a pool, let them do it when they buy the property!
2. Luxury Upgrades
Luxury brand name upgrades can add up your costs that would be better spent on the items listed previously. Unless your property is in a luxury area where people care about the name luxury name brands, it’s money better left in your pocket.
Thanks for reading! I hope you enjoyed the content.