The Best Home Improvements to Increase Your Home’s Resale Value
When deciding to sell your home, you may have many questions about what to do first. You’ll need to assess your home and property to find the best possible resale value. Many factors can affect your home’s resale value, and you may find that you need to make a few adjustments or improvements to attract more buyers and increase value.
But what improvements are worth your time and money or should be left for the buyer’s decision? How can you get the most out of your home without spending a fortune on remodels? The National Association of Realtors has actually found improvements you can make to recover the most from your remodeling. Among these are replacing outdated vinyl siding, upgrading roofing, and adding new wood flooring. The most appreciated improvement was refinishing hardwood floors, though.
These aren’t your only options! Yes, making sure all important areas, like roofing, is up to date and not in bad shape is very important, and looks great to have brand-new replacements. However, there are several other areas you can work on to get a higher resale value! Below are a few!
The MOST Valuable:
One of the most valuable changes you can make is to add usable square footage. Homes are priced largely on the amount of total livable square footage available. This can be as simple as adding a half-bath or even extending your extra room to convert it into an in-law suite. Another great choice is to add a covered patio to your backyard. These kinds of additions not only add unique features to your home but should increase its value greatly! The difference in prices of homes that have extra rooms and features can be thousands more than average homes with the usually included rooms.
This is why the best option to look at first is adding special features that increase total square footage. Even a shed, pool house, or outside entertainment area can qualify as a valuable addition in resales.
Updating The Major Areas:
You will be very surprised when you begin assessing your home’s trending value. Trends change every few years, if not months! So, if your home was built a few years ago, you may want to compare your styles in the “major areas.” Realtors can easily tell you that two of the biggest deal breakers for buyers can be the kitchen and the bathroom. That’s why these two major areas are worth spending a bit of extra dough as it can easily be recouped in home costs.
Updating the tiling/backsplash, paint, cabinets, and flooring in the kitchen and bathroom can be a major game-changer for many homes! Be sure to check out the safest options for color schemes and styles while making these changes. You want to go with what may suit a wider audience, and bold options don’t always speak to everyone. The resale value of homes that are “in style” currently is much higher than those that buyers see small projects in or label as “fixer-upper” homes. A great design specialist can help you make this improvement as smooth and stress-free as possible!
The Details:
Beauty is in the details. From the doorway to crown molding to paint color, the small improvements can actually make the biggest difference. Revamping your entranceways can pull in great curb appeal and draw attention to the beauty of the outside of the home. Crown molding and special touches, such as lighting, can transform the feel of your rooms. From making the ceiling seem higher to the hallways feeling wider, you can manipulate the area to feel bigger than it is. As mentioned before, bold choices, such as wall and accent colors, can be a big turn-off to some people. Choosing lighter, airy paint colors can give a whole new feel to the room (or even the whole house!)
Refinishing carpets or upgrading flooring has a huge impact on resale value, as flooring can be a big deal to many people. You can easily increase the appeal of a room through the colors of the walls and flooring. This is why small details should always be on your checklist when assessing your home for resale.
Overall, preparing for a few projects while starting the process of selling your home can be incredibly beneficial to you. You not only increase the chance of your home selling quicker, but you also greatly increase the resale value and the possibility of buyers going over the asking price to ensure they get your beautiful home.
If you need help finding where to start in this process, we at Glickman Design are here for you! We have years of experience in home renovation and improvements. We have highly skilled home design specialists on our team that can help you assess your home to find the best projects for you! Contact us today!