Getting ready to put your house on the market for the spring real estate season? Or making improvements for yourself that will pay off in the years to come? Don’t throw your money at a home renovation project without thinking about how it will affect your resale value.
After all, some projects are more lucrative than others. Here are the four best home improvement ideas at a variety of budgets and skill levels. Even a few minor changes can place your house in a whole new light when it’s listed for sale.
If you want to pick one place in your house to target your renovation efforts, make it the bathroom. Upgrades in this room can be recouped as much as 100% when you sell your home, and it’s a place where buyers look with a particularly discerning eye.
When doing a total renovation, focus on updating the tub, sinks, and flooring. For a tighter budget, you can freshen everything up with some new paint on the walls and outdated cabinets, new hardware, and modern faucets and fixtures.
The kitchen is the heart of the home, and buyers are willing to pay for a nice one. In fact, you can expect to get back around 98% of your kitchen remodeling costs in resale value.
How much you choose to spend and what upgrades you should select depend a lot on the area in which you live. It’s smart to look at comps in your neighborhood to get an idea of what buyers expect. You don’t want to go overboard in a more modest area, or waste money on mid-grade updates if you’re in a ritzier zip code.
Depending on what you’re starting with, new flooring, appliances, cabinet doors, countertops and sinks can all make a huge impact in the eyes of the buyer.
There’s a reason everyone knows the term “curb appeal” and that’s because it’s a vital part of making a good impression to buyers. Plus, in a world where the picture of your home’s exterior determines whether or not someone will click to learn more, you better believe that spending some cash on a few upgrades will pay off.
To get professional help, you can expect to pay at least a few thousand dollars for a design from a landscape designer, plus all of the labor and materials. But this is another part of your home that will pay for itself in terms of resale value.
At the very least, make sure your yard is nicely manicured and invest in enough annual flowers to fill in existing beds. If you don’t have any garden space at all, some nice potted plants on either side of the door can make a lovely first impression.
In addition to working on your yard, you can also improve your resale value by making some changes to the actual exterior of your home. You should definitely have the place power washed to make sure it’s sparkling for your photos and buyers.
Beyond that, replace any siding and trim that’s rotted, which will save you a headache during the inspection anyway. Update any windows and doors that look outdated or aren’t functioning well. You can also put some fresh paint up where needed, like on the doors, siding, or around the windows.
You may also want to repaint porches and restain wood decks so they look well-cared for. Finally, consider replacing old storm doors with a more modern version that’s open and inviting.
A home improvement project can be exciting because you get to enjoy a fresh look in your home. But it can also be a smart financial decision if you’re thinking about selling your home in the near future. Use some foresight to make the best decisions that will benefit you both today and tomorrow.