If you’re a homeowner, it’s typically safe to say that your home is probably the most expensive investment you’ve made. 9 times out of 10, the money you spent to get that home is only the beginning of the funds you will put into your home. If you feel like you will eventually end up selling your home in the future, it’s a good idea to go ahead and start doing renovations to boost its market value.
Now, the types of renovations you’ll do will be dependent on what your house needs. It’s also important to know that although upgrades are great ways to help sell your home faster and increase its value, it’s also important to know what your home is worth and that not all renovations will pay off for what your home is actually worth.
Take a look at these renovations and upgrades that will indeed give you the biggest bang for your buck.
They say that first impressions are everything, and in the case of home renovations, a home’s exteriors are essential. When a potential buyer arrives at your house, the first thing they’ll see is the outside of your house… if the exterior isn’t aesthetically pleasing, it’s going to immediately put a negative preconceived thought in their mind that the interiors are just as disappointing as the exteriors.
Making changes to your home’s exteriors doesn’t have to cost you an arm and leg. You can add “curb appeal” to your home’s out appearance with minor and basic efforts. For instance, you can power wash the exteriors of your house. Sometimes a good power wash can make a house look like it got a new paint job! Painting the front door is also an added touch that’s very cost effective.
Landscaping and privacy are other big aspects that potential homebuyers look at with home exteriors. Adding a fence that provides privacy and security will definitely increase your property’s value. Other outdoor additions such as refreshing the mulch, trimming hedges, keeping the yard cut, and adding seasonal flowers give your house an inviting and welcoming feel to potential buyers.
Some people say that the kitchen is the heart of the home, and rightfully so. The kitchen is the one place where everybody spends the most time, so you definitely want to make it comfortable, functional, and aesthetically pleasing to potential home buyers.
Realtors recommend to sellers that if they only had enough money to renovate one room, it should be the kitchen. The kitchen is another area that you don’t have to spend a fortune to have a great return on investment. Here are a few simple, yet cost-effective upgrades you can do to your kitchen:
- Switch out the hardware on cabinets and drawers
- Upgrade the countertops
- Add a backsplash around the stove
- Paint the cabinets
One of the easiest and most cost-effective upgrades you can do to your home is to paint your home’s interiors. Have you ever walked into a room or someone’s house and either felt anxious, overwhelmed, or dizzy? We’ve all experienced that at some point in our life but do you know why you had those feelings?
Well, that’s because certain colors on the color spectrum evoke different emotions. Verywellmind.com explains the psychology behind certain colors. So you when considering painting the interiors of your home, be sure to paint the walls a color that won’t over stimulate potential home buyers that come to view your home at an open house.
Results have shown that painting the interiors of a home can produce a 109% return on investment. When you’ve lived in your home for so long, you don’t realize just how much abuse your walls undergo until a fresh coat of paint is applied.
If your bathroom is outdated, it’s not going to make a good impression on home buyers. A bathroom is, of course, meant for using the restroom (number 1 and number 2) but what if there could be a number 3? Number three is relaxation.
A lot of people are turning their bathrooms into spas now, giving the ultimate in bathroom experiences. Some helpful upgrading tips would be to re-grout the tile, update the sink and light fixtures, and maybe even completely replace the toilet. It’s minor fixes like these that don’t cost a lot up front, but can give you a big turn around in the end!