9 improvements that add to a home’s resale value
Real estate prices appreciate when there’s a high demand for properties, and the supply of real estate is comparatively low. Regardless of the market trends, buying or selling a property has its own challenges. If you’re trying to sell your property or plan to do so, several home renovations can fetch you a better price on the house. Here are some smart home improvements to add to your real estate resale value.
Upgrade the kitchen
An upgraded kitchen is one of the biggest pulls when looking for houses. If you’d like to remodel your kitchen, consider giving it contemporary cabinets and countertops and upgrading the wiring and other utility-based aspects. There are many hacks to remodel a kitchen, such as repainting the cabinets or hiring a refinishing contractor to change the face of the cabinets. You can also opt for energy-efficient options and good lighting. One can approximately recoup up to 62.7 to 81.6% of the investment made on upgrading the kitchen.
Enhance the bathrooms
Well-maintained bathrooms help sell the property faster for it looks appealing, and the buyer doesn’t have to spend money on upgrading it before moving in. Bathroom upgrades approximately recoup up to 87.7 to 93.5% of investments. Simple ways to redo this space are to upgrade faucets, brighten the bathroom, change the mirror, replace the shower curtains with a glass door, and re-grout the bathtub. If not these, one can redo an entire bathroom with new tile. One of the popular trends recently has been monochrome tiles with a nice pop of color in bathroom accents!
Spend on landscaping
The first thing anybody will see when visiting your house is the entrance, including the driveway and the front yard. Choose interesting pavement patterns and maintain the yard with evenly cut grass, and plant ornamental trees. These small steps will instantly make the house look appealing.
Upgrade the front of the house
Rather than having a plain, worn-down door greet potential customers, do up the front of the entrance to reflect new beginnings. You can add a mosaic on top of the door on the porch or repaint the entire exterior walls to contrast with the window panes. If you want to take it a step further, add pillars to the entrance or install a nice front yard centerpiece to make the house look more appealing. Not only does this add value to your real estate, but potential buyers will also appreciate the well-kept entrance.
Get big windows
Nobody likes rooms with small windows, even if it is the spare room or bathroom. Get good, big windows that will bring in abundant natural light and brighten up every room in the house. Choose sliding glass windows for kitchen doors or opt for the classic window panes to suit the decor of your home. These upgrades will instantly elevate the interiors as well as exteriors of the home.
Work on the deck
If you have a big backyard, constructing a nice deck with an appealing tent roof would be a great idea. Pick up some attractive patio furniture, and you will have a great space for potential buyers who enjoy barbecue nights and like to host parties.
Get the latest appliances
Besides the interiors and exteriors, most buyers also find it helpful to have new kitchen appliances, so they don’t have to buy everything from scratch. If any kitchen appliance is more than ten years old, consider replacing it to get a good price for the house.
Upgrade the garage/basement
A functional and well-kept garage or basement is also one of the key contributors to selling a property. Ensure the garage door works smoothly, there is enough storage for possible tools and check for leaks in the basement. Remodeling a garage or a basement can cost a lot, and a buyer will definitely want to see the state of these spaces before signing the dotted line.
Use energy-efficient appliances
If an AC unit, oven, or heater is not well-maintained or if the home lacks insulation, it could use up a lot of energy. This might lead to exorbitant electricity bills for the new homeowner, which is a huge negative. Also, look for cracks in windows, doors, and door frames as they could substantially contribute to energy consumption.
While remodeling does help upgrade a house and fetch a better price, it is inadvisable to spend $25,000 on a bathroom remodeling for a $125000 home. Buyers won’t pay extra for the marble flooring or a new bathtub. Besides, ditch ideas like an indoor gym and a swimming pool since these require intensive maintenance. Luxury upgrades won’t help when you try to resale the property as the cost will be slightly higher than the market rate but not enough to recoup your investment. That said, mid-range upgrades with a well-maintained home with no potential risk of leakage, termites, or other infestation should get the homeowner a great resale price.