If you are thinking of selling your home, you need to know that there are certain improvements that will increase your home’s resale value more than others. The value of your property may increase as a result of upgrading key spaces and fixtures, which will aid in attracting more prospective purchasers.
Below are the five home renovation projects that you should focus on if your aim is to sell your property at a much higher price than its current value.
Modernize Your Kitchen
Among the first things potential buyers will notice when they enter your house is your kitchen. The majority of potential buyers will be more interested in the kitchen than any other part of the house.
Additionally, it’s one of the most thrilling places for potential buyers to walk inside and picture themselves in. However, be sure to assess the value of your property in relation to other properties on the market before you decide to invest in a new kitchen renovation.
The price of the kitchen needs to be comparable to that of the rest of the property. A kitchen remodel will cost you between $5,000 and $75,000 or more, depending on how extravagant you want to go.
However, according to Remodeling Magazine’s yearly Cost vs. Value Analysis, you can recover 60% to 120% of the cost, so it might be worthwhile in the appropriate market.
Improve Your Flooring
As per Zillow, 26% of homeowners undertake home improvements like replacing carpet or fixing flooring. If your home has multiple rooms with various kinds of flooring, you might consider investing in new flooring for every room to give the space a uniform appearance.
Despite the fact that they could be more expensive, wood flooring or even faux wood floors are preferred over carpeting, according to Matke. However, brand-new carpeting is still a huge selling feature if you can’t afford to convert to wood. The best color to use is a good neutral shade, just like when painting walls.
Remodel Your Bathroom
Potential buyers will immediately look for the bathroom next to the kitchen. It is the second deal-breaker or “maker” in selling a house. In 2022, a bathroom redesign might boost a home’s value by up to 53%–58% of the renovation cost. When you sell your home after a remodel, you can potentially recoup up to 71% of your expenses.
The most important aspects of a bathroom redesign that can raise a home’s value are replacing outdated items, modernizing fixtures, and making the area more useful. Based on the National Association of Realtors’ 2022 “Remodeling Impact Report,” 61% of homeowners reported feeling more at ease following bathroom remodeling, and 73% reported wanting to be there more.
It’s vital that you choose the best home renovation contractors in your area to ensure that the job will be high-quality. You have to consider that a bathroom remodeling project is more than just redesigning your bathroom surface. It also involves electrical work, structural changes, plumbing and waterproofing.
Therefore, it’s vital that you choose your home renovators wisely and make the most of your money. Take your time in searching and interviewing potential contractors and only choose the best.
Enhance the Light Fixtures
Changing the lighting in a home can be a quick upgrade with little financial outlay, but it can have a minor aesthetic impact. Keep the colors of your ceiling fixtures, pendant lights, and chandeliers in unison with the hardware in your house as you choose new lighting fixtures.
Metals like copper and greased bronze, or brushed nickel and chromium, for instance, can be mixed, but gold and silver tones shouldn’t be. Due to their widespread use in homes constructed in the 1980s and 1990s, older brass fixtures can appear old. To put it another way, if you’re making the effort to add anything new, make sure that it truly updates the style of your house.
When enhancing your home’s lighting, you mustn’t only consider the interior lighting but also look into enhancing the exterior lighting. Highlighting your landscape, driveway, walks, fire pits, fountains, fencing, and other outdoor features is one advantage of outdoor lighting.
If your house has a deck, patio, pool, or grill area outside, these features can be fitted out with lovely lighting fixtures. These both distinguish the place and increase visibility all around.
For interior lighting, you should focus on your kitchen, bathroom, living room, and entry way. These are the most significant parts of the house that will need better lightning features. By doing so, you will help amplify these features of your house, which entice the potential buyer even more.
Replace Your Windows
While window replacement isn’t cheap, it can improve energy efficiency, brighten the home, and make windows simpler to open and close.
By replacing your old window with a more energy-efficient option, you can potentially save up to $500 annually in heating and cooling expenses. This is a huge deal for potential buyers as it can help them save money in the long term.
You might also want to research potential federal tax credits as well as regional and local incentives for replacing old windows with Energy Star-rated ones. If you do decide to update your home’s windows before you sell it, give bigger, more attractive windows a chance. Even the tiniest rooms will look more appealing with the additional natural light.
Aside from providing better energy efficiency, upgrading your windows will also help improve your curb appeal. Curb appeal, or the general appearance of your house’s exterior, is important when you’re trying to sell it.
Since curb appeal focuses solely on appearance, replacing your home’s aging windows with new ones is a sure way to increase value and draw in potential buyers.
Start Planning Your Renovation Project Now!
Now that you already know what renovation you should prioritize to increase your property’s value, you should start planning the renovation project immediately and sell your home quickly. If you do these suggested renovations, it will never be difficult to sell your house.
In fact, it will be the buyers who will pursue your property, as having these features in a home is a great deal for them.