Top Home Renovations to up Resale ValueNick Walton
Are you considering to do home renovations in hopes of fetching a higher price for your house? If so, the good news is that renovations can help to increase your home’s resale value by more than 50%. The bad news, however, is that not all not all home renovations are equal. While some renovations can help you up your home’s resale value by 50%-130%, others are a waste of money.
Home Improvements Around the House
Potential buyers care about the overall appearance of you house. There are a few general things to look out for when remodeling your house for selling:
- Improve Curb Appeal. First impressions matter, so pay attention. Do your window frames look old? Replacing your windows with new ones that look nicer can have a huge impact on curb appeal. Is your roof in good shape? Does your garden look neat? Buyers notice these things.
- General house maintenance. Buyers want basic things like plumbing, electrics and general maintenance to be a given. Focus on maintenance before upgrading anything.
- Repainting. Don’t underestimate a fresh coat of paint in a neutral color. It makes your house look well-maintained.
- Neat, open spaces. In general, buyers want your home to feel spacious. You can do this by improving lighting, adding or enlarging windows in dark rooms and adding extra storage.
- Flooring. Buyers want nice flooring. Consider having your flooring redone if it looks worn.
- Versatility. Rooms that are versatile make your house seem more attractive. Can your basement or attic double up as a guest bedroom? Do you have an extra bedroom that can double up as a study? Those are great features.
Bathrooms and Resale Value
Buyers care a lot about two rooms in your house, the kitchen and bathroom. This makes perfect sense, as the rest of the rooms are emptier and buyers can easily change the look by repainting and furnishing them. Kitchens and bathrooms, however, have a lot of built-in features that can’t easily be changed, so buyers want these rooms to look great as they are.
- Focus on sore points. You won’t win if you replace your tub and redo all the tiling just because you can. Replace tiles only if they’re old and cracked. Unless something looks poorly maintained, it’s best to leave it.
- Focus on storage. Buyers want to see enough storage in a bathroom. Don’t disappoint. Install a modern, stylish and spacious vanity.
- Finishing touches. Small improvements that aren’t glaringly obvious can do wonders. Repaint in a neutral color that reflects light and makes the space feel open. Hang new towel rails and rings. Consider adding a larger mirror in a small space to make it feel larger.
- Add another bathroom. This won’t be a good choice for everyone, but if your house has fewer bathrooms than others in your neighborhood, adding another bathroom can help.
- Put your best foot forward. Small things can make your bathroom look much better. Don’t keep personal hygiene and cleaning products where people can see them. Hang luxury towels. Display scented candles and luxury hand wash soaps, or put a small potted plant somewhere. Also, make sure your bathroom is squeaky clean whenever someone comes to look at your house. Your bathroom should feel almost like a hotel or spa.
Your kitchen shouldn’t be over the top compared to the rest of your house. But when done properly, kitchen renovations should increase your home’s value.
According to HGTV, your kitchen remodel should earn at least a 70% return on your investment to be worthwhile. It’s also suggested that the cost of your kitchen remodel should be 6%-10% of your home’s value. That way you won’t overspend, but you’re sure to make some good improvements.
When doing kitchen renovations you should try to see things from the buyer’s perspective. You might have to pass on some things you want in order to do what potential buyers will appreciate.
Here are some of the best kitchen upgrades to interest buyers:
- Granite countertops. It doesn’t matter what the value of your home is, buyers tend to see granite countertops as a non-negotiable.
- A simple, neutral color scheme. The color scheme of your kitchen should be front of mind when doing remodeling work. Don’t pick something boring, but try to keep things neutral enough so your buyers can define their own color scheme by adding accents in a color of their choosing.
- A kitchen island. Make your kitchen feel more spacious. If your kitchen is large enough and your budget allows it, installing an island to act as a dining area and work space can make your kitchen seem roomier and more versatile. The benefit of an island is that it takes the same space as a table, but has room for storage too, which can help you open up space in other areas.
General Renovation Guidelines for Increased Home Value
Realtors agree that home renovations only help increase market value if they don’t look out of place. Your renovations shouldn’t make your house stand out when compared to the rest in your neighborhood.
Remember, location is a huge factor when it comes to property value, so a $1million house in a $300,000 neighborhood just doesn’t make sense.
It’s equally important that renovations line up with the rest of your house. You’re better off upgrading your whole house a little, than upgrading one room drastically, but neglecting the rest.
If you want advice on the best home renovations for your specific neighborhood, contacting a local real estate agent could help. They might be willing to give you some recommendations for renovations that can increase your home’s market value based on things like location and when your house was built. And once you’ve chosen what home renovations are necessary, Walton Home Solutions can help do all your home renovations.