Top 5 Improvements that Increase Home Value
Did you know that not every home improvement gives you a dollar-for-dollar return or even a ‘good’ return on your investment?
Knowing which home improvements matter and will give you a good return on your investment is important, especially if you’re thinking about selling your home soon. Here are our top 5 improvements that will give you more bang for your buck:
1) Kitchen Renovations
Renovating your kitchen doesn’t mean demolishing the entire kitchen - we're talking a few tweeks to bring it up to date. To give your kitchen a ‘facelift’, try these minor fixes:
*A fresh coat of paint
*Upgraded appliances
*Refinishing the floors
With these few updates you could see as much as a 100% return on your investment.
2) Bathroom Reno
Buyers look for square footage in a bathroom, so don’t think you have to add in a soaker tub – if anything, opt for the walk-in shower and updated cabinets and countertops.
Consider these other updates & repairs:
*Replace cracked tiles
*Update light fixtures
*Update faucets
*Replace/repair countertops
*Refinish the floors
If you do the above fixes - you could see around a 75% ROI.
3) Curb Appeal
A drive by can speak volumes to potential buyers. Sellers who make a point to see their curb appeal from the buyers point of view see well over a 100% return on their investment.
A well-kept exterior often means the interior is in good condition too. It doesn't take much to wow the buyers:
*Manicuring the lawn and landscaping
*Replacing dead/ugly bushes or trees
*Adding a few flowers
*Cleaning the siding/painting it if necessary
4) Paint your House
A fresh coat of paint can do wonders for any home. Stick with neutral colors. A neutral white or tan color will open things up and make your house look more welcoming to buyers. Painting doesn’t cost much but you’ll see well over a 100% return on your investment.
5) Repair/Replace Flooring
Old stained carpeting isn't doing anyone any favors, rip it up and either replace with new carpeting or consider installing engineered hardwood or better yet the real deal.
Like paint, flooring can provide a return that’s well over 100%.
Choose your Home Improvements Wisely
These are just a few tips to help you get your home ready for sale. If you are making repairs for value, focus on what provides the most bang for your buck. If you’re moving within the next few years, these are great improvements to keep in mind to make the most of your investment.