The Best Resale Renovations for Your Home
When it comes to home renovations, choosing where to invest can be a challenging process. After all, some renovations will only benefit you in the short run, while others can actually help sell your home faster. For those looking for direction on where to invest, here is a list of the best resale renovations for today’s market.
Landscaping: First Impressions Are Worth the Cost
The outside of the home is perhaps one of the easiest places to invest, but is often the most overlooked. The good thing about giving your front yard curb appeal is the flexibility. With little investment, you can dramatically improve the look of your yard by pruning trees and hedges, adding some colorful plants, or installing a simple walkway. It really depends on the needs of your yard. Remember, the outside of the home is the first thing that potential buyers see, so making a good impression is key.
Kitchen: Think Workflow, not Appliances
Undoubtedly, the kitchen is the most important room in your home. In fact, the best place to invest your money is in the kitchen. However, instead of planning on simply upgrading every appliance, take a good look at how the space is utilized. Does the space simply need more floor room? Is your dishwasher too far away from your sink? The key thing to keep in mind with the kitchen is work flow. You want an open space that gives you the ability to work freely and without hassle. Worry about adding upgraded appliances later.
Lighting: The Brighter the Light, the Bigger the Room Appears
Brightening up your home will give it an instant appeal. Not only will lights brighten up spaces and make them appear larger, but they can also help save in energy costs in the long run. The great thing about lighting is all the options that are currently on the market, from dimmers and smart LEDs to sun tubes. The general rule of thumb is that too much light is better than not enough, so do not be afraid to add where needed.
Furnace Upgrades: Take Advantage of Government Rebates
By upgrading the furnace, you can reap both comfort and resale benefits at the same time. Furthermore, you can also receive government energy savings and rebates, depending on the type of furnace installed. That being said, only upgrade the furnace if it absolutely needs it or if you plan on staying in the home for a minimum of five years. Anything under five years and you might not get that money back when you go to sell.
Bathrooms: Small Touches Make a Huge Difference
Aside from the kitchen, the bathrooms are another make-or-break area when it comes to selling a home. However, you do not have to tear everything out and start from scratch when it comes to bathroom renovations. Sometimes, a new fixture, mirror, or shower head can go a long way in selling a home. For the walls, consider repainting to breathe new life into the space and adding architectural detail to further spice things up.
Flooring: Keep it Neutral and Real
The floors of your home can make a significant impact on the buyer's decision to purchase. For today’s market, consider installing real wood floors over laminate. Although the installation process can get expensive, wood floors will definitely add value to your home as well as improve the overall look. However, keep in mind the color schemes of your home when choosing the right flooring, especially carpet. For best practices, choose a neutral color that is less likely to clash with pieces of furniture.
Basement and Attic: Finished Space Equals More Equity
If you have unfinished sections of your home, such as a basement or attic, consider finishing it before selling. While the upfront costs are great, a finished space adds square footage to your home, which translates to more equity. The only thing to keep in mind are following correct building codes and knowing what constitutes livable space where you live. The flip side of this notion is that some buyers might not be willing to pay more for a finished basement, and therefore the cost of finishing may not always bring a return on your investment.
Plumbing: Easier now Than Ever
Plumbing is actually a critical piece in assessing the value of your home. If your home is older and in desperate need of new piping, then you will definitely get your investment back by replacing all the plumbing. Luckily, the process of re-piping has gotten a lot easier in modern times and does not usually mean tearing out the walls to install the pipes.