Home improvements can raise the market value of your home, but not every improvement is worth the effort and investment. These are the top five home improvements that actually return value when it comes time to sell.
Your home is one of the most significant investments that you will ever make, and, in most scenarios, your first home won’t be the only home that you buy. Whether you decide to reinvest in a move-up home as your family expands, or even if you are selling your home to downsize to something more affordable or suited to retirement, you will need to know how to maximize your real estate investment to get the best return.
1: Repainting Interiors
Old chipped or faded interior paint can be a massive negative for potential buyers. Simple touch ups can make a difference by improving the appeal of your home when it’s on the market. If you need more than just a few touch ups, then make sure you stick to neutral colors when repainting walls and ceilings. These allow potential buyers to look at the home and project their own vision, making it easier for them to develop an attachment to the property.
2: Bathroom Renovations
Bathrooms are only behind kitchens in terms of importance. A clean and presentable bathroom can go a long way towards convincing a buyer that your home is right for them. While kitchens can cost tens of thousands of dollars to remodel, a simple bathroom remodel can be performed on a relatively small budget. For maximizing sale value, the bathroom is where your attention should be.
Repaint surfaces, have tiles cleaned and possibly re-grouted, and install a new bathroom vanity if yours is worn or outdated. The vanity is the key focal point of any bathroom and installing a sub-$1000 vanity could be what you need to ensure that your home doesn’t stagnate on the sale market.
3: Lighting Improvements
Light is welcoming, it creates space, and it’s the most important aspect of interior design. A dimly lit home will be far less appealing than one that effectively uses natural and artificial light sources. Start with your fixtures. Modernizing these could have a significant improvement on the appeal of your home.
If you have the budget for it, you could even install a skylight in your entranceway to improve the walk-in appeal of your home.
Landscaping is relatively inexpensive and the impact can be huge. With improved landscaping, you can create curbside appeal. Simply having trees trimmed and bushes pruned can make a big difference. The idea is to make sure that the property looks well maintained. Keep up lawn and garden maintenance while your home is on the market, and remove any clutter and old furniture that is ruining the outdoor aesthetic.
5: Opening Up Interior Spaces
Home remodeling television shows have almost made this one a cliché, but it’s still incredibly important. If possible, open up living spaces by removing nonstructural walls. Open plan design is what modern buyers expect. An open flow between key living areas can make your home feel larger, more impressive, and more appealing to a buyer.
Small investments in improving your home could make it more attractive on the market. Ultimately, you could command a higher sale price and reduce the time that it takes to sell your home.
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