6 Home Updates to Boost Your Resale Value
Choosing the right renovations to update your home can help you sell quicker and at a higher resale value.
When putting your house on the market, there are some upgrades that return a higher resale value for your home than others. Not all renovations have an equal impact on your home’s value. It is important to know which rooms and fixtures to update to get the most out of your sale. Choosing the right projects to focus on can be the difference between your house selling at or above the offering price or sitting on the market and losing value.
Having necessary updates can attract more potential buyers and drive up the value of your home, and there are several home upgrades that can help you sell your home at a higher price without all of the risky investments. It’s important to follow some industry rules of thumb and do your research before taking on a big project. Here are some upgrades that add the most value to your home when putting it on the market.
If you’re not sure where to start on your home renovations, a fresh coat of paint in a light, neutral shade is often one of the simplest solutions. Painting is an easy way to freshen up the house at a low cost. It’s one of the cheapest updates with the best return on your investment. It can drastically improve your pictures online and brighten up an entire house, making it feel fresh and clean. If painting the entire home isn’t an option, consider painting high-traffic zones such as entryways, kitchens, and living rooms. Make sure your updates are neutral to attract as many buyers as possible. People are more likely to see themselves in a home that has neutral colors, rather than a space that has been personalized to suit your own tastes.
2: Budget-Friendly Kitchen Remodel
Your kitchen is the heart of your home and one of the first things that prospective buyers will see. Buyers get excited about seeing themselves in a kitchen, and it is the most used and talked about room in the home. This is why most experts agree that a well-designed kitchen is a key factor in improving the resale value of a home. If you only have the budget to renovate one room, this is typically the best place to start. 80% of homebuyers list the kitchen as their favorite room.
3: Bathroom Remodel
The second room that increases the value of your home the most is the bathroom. If your bathrooms are outdated, even small updates can make a big impact. Therefore, minor bathroom remodel can provide a 102% return on investment, and you don’t have to spend a fortune to make a big difference.
The impact of flooring makes a big difference in how your house comes across to buyers. Wood flooring is a great way to increase the resale value of your home. While hardwood floors are one of the most expensive options, installing them is one of the most impactful ways to increase your home’s value. If you already have hardwood floors, consider refinishing the ones you have to make them look brand-new and well-maintained. New flooring instantly brightens up a home and makes it look well-maintained. To add the most value for the least amount, focus on replacing hard flooring in public areas such as the kitchen and living rooms. Opt for less-expensive carpet in the bedrooms.
Countertops are one of the first things people see when they enter your kitchen or bathroom. So if you’re going to replace anything in these areas, countertops are often a good bet. It’s important to keep in mind that countertops can be a very personal choice for a person. That means following market trends is crucial. Try opting for a stone with subtle veining in bright neutral whites to attract the most buyers.
6: Keep it Tidy:
Work on decluttering your home to entice homebuyers. Prospective buyers won’t notice any of the beautiful features of your home if it’s messy in the pictures or during their showing. While this may not directly increase the value of your home, it could get your house off the market faster. Clearing out excess and organizing in closets and storage will allow these spaces to look larger to buyers.
To DIY or Hire Out Professionals
When remodeling for sale, the market in your neighborhood is going to have a big impact on the types of upgrades you should make. The best renovations are going to be what makes the house look the best to the most buyers. These updates don’t necessarily have to align with your tastes. It’s important to know your own limitations and avoid having to pay a contractor to fix your mistakes. Working closely with a professional can help you to decide what upgrades will make the biggest impact on your home value, and also make sure that you’re spending your money wisely on a project that’s going to add the most resale value in the shortest amount of time.