When considering investing money in home improvements for resale, you should have two primary goals: improving your home's appeal and increasing property value. Expenses which do neither, aren't worth the money or the time. Consider the following renovations, upgrades and repairs that will help you sell your house more quickly for more money.
8 Best Home Improvements for Resale
1. Kitchen
The hub of the modern home is its kitchen. Today, people do more than cook in their kitchens; they eat in them, work in them, play, socialize and relax. It should come as no surprise that at the top of most buyers' list of priorities is a kitchen they will love. Putting money into kitchen upgrades like new appliances, quartz countertops and low-maintenance flooring will help your house sell and increase its value.
2. Bathroom
Like kitchen improvements, bathroom upgrades will both increase property value and make your home more desirable to buyers. Don't worry about completely gutting your bathrooms; swipe on a shiny coat of paint, update fixtures and countertops, and consider installing fresh flooring.
3. Master Bedroom
Most new builds include a master suite. If your home is older and lacks this feature, it will have a tough time competing with more modern homes in the same price range. If possible, update your master bedroom to include an en suite bath and ample closet space.
4. Floor Plan
Today's buyers prefer open floor plans with multi-use rooms that make the most of their square footage by serving several purposes. Consider knocking down non-structural walls and removing kitchen islands to create a free flowing space that enhances modern family life and entertaining. You should also consider increasing your home's livable space by making use of every square foot. Finish your basement or attic to increase home value and appeal.
5. Curb Appeal
Your home's first impression is very important. Clean up your landscaping and your home's exterior with a power-wash, fresh paint, new house numbers and a new doormat.
FREE DOWNLOAD: Top 5 Upgrades that Will Increase the Value of Your Home
6. Low Maintenance Upgrades
When upgrading any part of your house, select low-maintenance options like hardwood flooring, native species plants, durable countertops and minimalist designs. Avoid spending money on features that can actually lower the value of your home and make it less desirable to buyers such as swimming pools and backyard water features. Buyers do not want to enter a property that will eat up lots of their time and money with upkeep, cleaning and general maintenance.
7. Energy Efficiency
Make sure your home is making the most of the energy it uses. Hire a professional to inspect your HVAC system, insulation and duct work and contact your local power company to schedule an energy audit. A few simple upgrades to your windows, thermostat, insulation and weather stripping will increase your property value and make your home more desirable to potential buyers. Not to mention, the upgrades will save you money on energy costs while you wait for the right buyer to come along.
8. Roof, HVAC and Water Heater
Make your home a no-surprises property by equipping it with a repaired or replaced roof, HVAC system and water heater. These three items, though costly, are the ones with which potential buyers most fear running into problems. When new, your potential buyers can spend their time falling in love with your property, rather than worrying about how much it will cost them after closing escrow. These items are major investments, so consider them carefully before making a decision. You might not see much return in your property's value, but the upgrades will likely help your property move quickly.
Get Professional Advice
Before spending on upgrades, hire a professional broker or home stager for advice on which investments will provide you the biggest payoff on your home.
