Making updates to the home one lives in can be a fun and easy way to keep your house up-to-date and appealing, or it can be a way to increase the value of a property you are preparing to put on the market. Whether you want to make a few key improvements before you list your house or if you just want to make sure your home is staying modern and inviting, there are some renovations that you can make that will add value to your home.
Certain improvements will offer you a larger return on investment when you sell your house. This includes exterior renovations that create curb appeal. Consider sprucing up the exterior of your home with new paint, new shutters, and updated exterior lighting. Your exterior, the first thing potential buyers will see, should look welcoming and well-maintained.
Some improvements can also have a dramatic effect on the interior of your home. Depending on the age of your home, you may want to consider replacing flooring, updating countertops, and adding modern fixtures throughout. Even something as simple as replacing light switches can give your home a more modern feel. If you want to create more space in the home, finishing a unused space like the attic or basement can add value, depending on the layout of your home.
Increase Market Value with Renovation Projects
When selecting a home improvement project to complete, think about the return on investment. A good rule of thumb when making renovations to increase a home’s market value is to look at similar homes in the area. Compare what those homes offer to the features you can offer and at what price. If you can create the same space with better amenities like granite countertops or energy-efficient windows at a cost that is comparable to similar homes it can be a great investment.
While certain improvements and renovations can add value to a home, those upgrades don’t necessarily guarantee a higher selling price. Other things prospective buyers take into consideration include the location, local economy, and schools. Those factors affect the market value of a home, even if everything inside the property has been updated and is modern and well-maintained.
Kitchens and Bathrooms are a Hot Commodity
When considering renovations to add value to a home, think about the area that most homebuyers look for in a property: the kitchen and bathrooms. Kitchens carry a lot of weight for potential buyers. They are the focal point of a home and making sure the kitchen is up-to-date with the latest amenities is key. Propreties with modern, well-maintained kitchens are attractive to potential homebuyers. Consider updating cabinets, countertops, appliances, floors, and lighting. Completing a small-scale remodel like replacing countertops can bring a lot of value if done properly.
The same principle applies to the bathrooms in a home. Even with small bathrooms, prospective buyers are looking for amenites that are modern and up-to-date. An easy way to add modern features to a bathroom is to add new lighting fixtures and replace the vanity and faucets. Also, replacing the shower or bathtub can add value as well.
Making renovations to your home can be a tedious process, but the reward could end up being higher than the initial investment. With careful planning on where to invest money when looking to update your home, you can make a few key improvements and turn a stagnant property into a modern, attractive one that will draw in potential buyers.
Curb Appeal Necessary to Draw Buyers In
Updating the exterior of the home is just as important as updating the interior. Buyers will decide whether or not they like a property within the first few seconds of driving up to a potential house. That is why curb appeal is a vital part of making a house desirable and attractive to potential buyers. This includes simple things like painting the house, replacing shutters, updating lawn ornaments, and sprucing up the landscaping.
Depending on the size of the home’s exterior, adding a deck or a patio can be a good investment. It is important to remember that for outdoor features you want to use materials that will last and be resilient to elements like sun, rain, snow, and temperature changes. Furthermore, the deck or patio should be outfitted with modern furniture and well-maintained. These details, while small, add a lot of value when potential buyers are looking at a property.
Adding value to your home can be a great way to make a property attractive to buyers and to increase the value of the home. There are a few key renovations that can be done that will not only make the home modern and inviting, but also increase the resale value. From updating kitchens and bathrooms to exterior renovations and updating flooring, making deliberate and thoughtful improvements can create a home attractive to potential buyers.