When you’re investing in renovations, you want to ensure that you’ll get your money’s worth. If you’re planning to sell your home in a couple of years, it’s a good idea to start thinking about what buyers will value most.
We’re here to help you get the most out of your upcoming renovations. Boost the resale value of your home by investing in these upgrades:
Repaint the Interior
With renovations, you might have the tendency to go overboard. But small adjustments can be just as impactful. You can paint the walls, or consider finer details, like your kitchen cabinets or living room table.
When you’re choosing paint colors, exercise caution. Flashy and vibrant colors might scare away potential buyers! Stick to shades that are neutral and trendy.
Install a New Roof
Want to know one of the top reasons why buyers back out of a sale? Hearing these words: this roof was installed 25 years ago…
To a buyer, this only means one thing—that they’ll need to replace it within a couple of years. Even if your home is pristine, and checks all the boxes, the condition of the roof can make or break the deal. A roofing contractor can inspect and repair your roof.
Finish the Basement
How many of us have ”finish the basement” on our to-do lists, but never actually get around to doing it? We’re willing to bet that applies to quite a few of you. Don’t worry—you aren’t alone.
It’s an intimidating task, but it will certainly pay off when your home is being appraised. When buyers view your home, they’ll know that they don’t need to add that task to their to-do list.
Open Up the Layout
Sometimes, it’s hard for buyers to picture themselves in a home that someone else lives in. But with a completely open floor plan, they’ll have an easier time seeing how their lives may look in that space.
As you look around, you may decide to remove an interior wall or two. This will open up new possibilities for your space, making a home look more modern.
Upgrade the Backyard
Lounging in the sun is a lot more fun when your yard is private, well-maintained, and full of entertainment. Consider adding a fence, barbeque, or even a new deck to the back of your home.
Replace the HVAC System
While it isn’t the flashiest upgrade on this list, it is one of the most practical. Your heating and cooling system affects how comfortable our homes are (and how expensive it is to control the temperature).
An outdated and poorly maintained HVAC system is a major detractor to the value of your home. Investing in a new one assures homebuyers that they won’t have to worry about a costly repair/replacement.
Redo the Floors
Does anyone really prefer carpets over hardwoods? You know that when you sell your home, most buyers will want to rip those old carpets off the floor.
New carpets might be soft and appealing—but as the years go on, they become stained, and may even pick up unpleasant smells.
Switching to hardwoods drastically improves the appearance of your home. On average, it provides an ROI of 70-80%.
Invest in Energy Efficiency
One way to make your money back from a renovation is by lowering your utility bills. By boosting the energy efficiency of your home, you’ll save money each month that used to be spent on wasted power.
A few upgrades you might choose from include:
- New windows
- Low-flow toilets
- Adding insulation & sealing cracks
Make the Bathroom More Accessible
When buying a home, many people look into the future—they imagine how their lives would be if they stayed in that house for five, ten, or fifteen more years.
As we get older, safety features, like grab bars and showers with seats, become a lot more useful. Even if you don’t need them yet, it can bring you peace of mind to know that when you will, that they’ll be there.
Remodel the Kitchen
We use our kitchens almost every day. If you decide to upgrade this room, it won’t go unnoticed. A new backsplash or granite countertops will transform any kitchen.
If you aren’t sure where to start, take a look at what you use most: appliances. Who doesn’t want to use a brand new fridge, oven, or dishwasher while they’re cooking?
Purchasing new ones can make your kitchen more efficient. Appliances with an Energy Star label can save you up to 10-50% more energy!
Make your dollar go farther by investing in renovations that put money back in your pocket. We hope that these high-ROI upgrades make your next renovation project a successful one. All your hard work will pay off the next time your house is appraised.