7 Home Improvements That Add Serious Value to Sell Your Home
More than 8 out of 10 buyers are now adding home improvements in the sale of their home according to the Zillow Consumer Housing Trend Report of 2016. This means people are paying to play and spending money to make money. The truth is, people are calling for renovations and if you want to reach the most buyers possible, you should consider some type of home improvement. Whether it’s fresh paint, new flooring, an upgraded kitchen, or a new tub in the master bath, consider which renovation works best for your home and your budget!
1. Upgrade the Kitchen
The kitchen is the center of the home and if yours appears fresh and renovated, you can significantly increase the value of your home. Not to mention, an updated kitchen will catch the eyes of more home buyers.
According to HGTV, you can expect to get back anywhere from 60-120% of your investment on a kitchen remodel as long as you are smart about your upgrade choices. When advancing your kitchen, shy away from making it fancier than the rest of your home; make it a focal point but not out of place. To do that, we suggest focusing on the following areas of your kitchen:
Consider New Countertops and Backsplashes
Countertops set the tone for the entire kitchen, so if you want to add major value to your home, select stylish, updated materials. Buyers generally like the earthy, elegant look of natural stone counters. Although granite is the most popular material, many homeowners are gravitating toward other stones like marble, limestone, or soapstone. For homeowners interested in laminate, look for a classic, natural stone pattern.
Whatever material you choose, make sure you choose neutral countertop slabs and backsplash patterns to go with each different style. The kitchen sink, faucet and backsplash tile you choose should match the style and look of the overall countertop remodel. Want to go above and beyond with your kitchen makeover? Add a farm sink. They are all the rage right now and are extremely practical for all age homebuyers.
Stain or Refurbish Cabinets
Updating your cabinets doesn’t have to cost you much if you are willing to get your hands dirty. Refurbish or upcycle your current cabinets by sanding and painting them a new color. Try adding new drawer pulls and other hardware finishes to give your cabinets an automatic makeover. If you don’t want to go the DIY route, we suggest investing in rich wooden cabinets or simple whites and grays. These choices will make your kitchen feel bright and timeless to potential buyers.
Invest in New Appliances
Although the most expensive cost of your kitchen renovation, upgraded appliances will pay off in dividends in the sale of your home. Appliances are arguably the most used feature in any kitchen, so be practical when updating and look for energy-efficient appliances with warranties.
Upgrading your appliances is simple and adds immediate appeal. It does not have to a burn a hole in your pocket, either. Search and wait for deals and you will be surprised how far your money will stretch. From an aesthetics perspective, stainless steel appliances provide a sleek, fresh look and are what buyers look for in a home. Choose appliances that complement your cabinets and countertops to give your kitchen a cohesive look.
2. Add a Bathroom or Update an Existing One
The bathroom is the next most important room to address. Look at your current bathrooms, remove any wallpaper and apply bright, fresh paint. If the lighting fixtures and sink are relatively outdated, consider spending a portion of your budget to install more modern designs. If the floors look worn or stained, consider adding tile, sheet vinyl or vinyl tiles to liven up the room.
If your home lacks multiple bathrooms, you can recoup a large chunk of your investment by adding an additional bathroom. HGTV estimates that you can get back 80-130% of whatever you spend adding a bathroom. When it comes to finding room in your home for an extra bathroom, take a look at any rooms you underutilize. Consider smaller spaces like closets or areas under stairs that you do not use to put in a half-bath. Even adding a half-bath increases the value of your home. Like any project, the cost of adding a bathroom depends largely on the types of additions and accessories you want to use. You can save money by frequently checking your local home improvement store or Lowe’s and Home Depot for reduced prices on bathroom items.
3. Focus on Flooring
It may be time to pull up those outdated floors, especially if they’ve seen their fair share of wear and tear. When updating your floors you can’t go wrong with clean hardwoods throughout your home. For someone looking to spend less money, though, multiple options are available. Wood-like tiles create the same natural feel of hardwood while stretching your dollar further. Slab, porcelain, or stone flooring are a popular, recent design trend. Just make sure to stay within neutral color guidelines.
Hardwoods are a classic. Whether dark cherry wood, or farm-like and rustic, hardwoods add serious value to your home. If finishing your entire home with hardwood flooring is not an option, consider installing hardwood floors only in the most important areas, like the kitchen and living area. In the existing rooms, shampoo all carpets. Replacing wall-to-wall carpeting can be a gamble as most buyers are going to want to choose their own flooring anyways. Brand new carpeting can improve the appearance of the house, but it may not actually increase its value.
4. Create Space Where You Can
A home that feels and appears more spacious is going to be more appealing to potential buyers. Knock out a non-structural wall to open up your floor plan. Anything that opens the space and creates a sense of flow in your home will generate a response from buyers who can afford to be choosy. For the price of a few hundred dollars, you can open up two rooms into one and completely transform the feel of your home.
If your walls all serve as structural assets to your home, consider investing in eye-catching wooden beams across your ceilings to support your home’s structure. The wooden beams will add a popular design feature while also allowing you to get rid of the wall breaking up your open concept floorplan.
5. Don’t Put Off Care and Maintenance
While it is extremely fun to think about the fancy upgrades and renovations that will add value to your home, don’t forget to address the basics. Insulate the attic, repair plumbing leaks, inspect the furnace and septic system, install storm doors, replace or repair leaky windows, and weed the flower beds. What you may not notice as a weed, a homeowner may see as a weekend of added work they need to do to get their new home in tip-top shape.
These types of fixes go a long way toward value. Start with a couple hundred dollars on a few maintenance projects to potentially increase the value of your home by a few thousand dollars. Investing in maintenance and repairs is not only moneywise but could also be crucial to your home sale.
6. Don’t Underestimate the Power of Curb Appeal
This is the first impression buyers receive from pulling up to your driveway – make it count!
According to Realtor.com, people make up their minds on whether they want to purchase a home within the first seven seconds of entering. Think of curb appeal as a statement to potential buyers – it gives buyers a feeling of what to expect from your home tour prior to even entering. Even simple improvements like weeding, trimming hedges, and planting flowers can put your viewers in a good frame of mind before they set foot in your home.
7. Add Smart Touches
Certain smart devices, such as programmable thermostats, lights and door locks that can be synced with a smartphone, or security systems, add to the home value and interest. Those smart features have broad appeal with millennials who grew up on smartphones and are used to controlling things at their fingertips.
Consider these top 7 home improvements and in no time you will add serious value to your home and be ready to put it on the market!