Considering Selling? These Renovations Increase Home Value the Most
October 20, 2019
If you’re actively looking or, at the very least, contemplating selling your home in the near or recent future, one extremely important question you must consider is: should I list the house in its current condition or should I remodel in an attempt to increase the value and likelihood of selling?
If you are planning to move out of your current home, renovating certain areas for other people to enjoy might seem like a waste of money, time, and effort.
However, before you pack your bags, there are a handful of influential reasons why you should consider renovating your property before putting it on the market.
Reasons to Renovate
It goes without saying, renovations and recent upgrades improve the value of the property because it prevents the next homeowner from having to spend thousands of dollars upgrading appliances, flooring, electrical, etc. This burden is lifted from the homeowner and significantly increases the likelihood of your home selling faster.
Seldom are potential buyers interested in a fixer-upper. An immediate turnoff is seeing an area of the home that will require the money, time, or effort to fix it up. A home ready for an immediate move-in is much more enticing to the general market than one that will require additional work.
Additionally, online real estate has seen a significant and steady surge of users as sites like Zillow and Trulia make viewing homes so much simpler. This allows potential buyers to narrow down homes that meet their standards and allows them to determine beforehand whether the home will require an additional financial investment after purchasing the property.
Our last reason is arguably altruistic. Renovations can make a house feel like a home to potential buyers. While many people think about resale value above all else when selling a home, upgrading components of your home is beneficial for the people who will live there next.
Home Renovation Tips
If you were to walk into a house and see home features that looked old, worn, and unusable, you might set your eyes on other properties. Keep this perspective and the following tips in mind when renovating.
Ask a neighbor or friend to walk around the interior and exterior of your house. They can help you determine what individuals who don’t currently live there would see as an area to make better.
Make repairs and improvements your top priority. Damaged and worn home features will attract negative attention, as well as decrease the value of your home. Some elements to seriously consider repairing include:
These broken elements are unlikely to go unnoticed when someone is visiting the home. So, you should fix these before any cosmetic changes are made.
Kitchen and Bathroom Renovations That Increase Home Value the Most
Here are some of the top renovations that can increase the value of your home.
People spend time cleaning, conversing, and even crafting in the kitchen area. Of course, people also prepare meals in the kitchen, too. Since everyone in the house accesses the kitchen throughout the week, it’s important to make it a renovation priority.
Boost value with kitchen renovations by:
- Cleaning the grout between floor tiles
- Adding a backsplash
- Painting and refinishing the cabinets
- Redoing the countertops
Improve home value with these luxury upgrades:
- Add another oven
- Install energy-efficient appliances
- Upgrade the dishwasher
- Improving the cabinet system with quiet-close drawers
Bathrooms are additional areas in which people spend time in daily, which is why home value increases with restroom upgrades.
Some bathroom features to consider renovating include:
- Add a new bathroom
- Fix the flooring (especially if water damage or cracks are apparent)
- Replace fixtures and faucets
- Install a backsplash
To add even more value to the property, consider these top-of-the-line bathroom upgrades:
- Create a floating vanity
- Install a frameless glass shower
- Use quality flooring materials
- Add extra storage space
This renovation is one of the more costly ideas, but it does add value to the property due to the additional space. Whether you want to spend the time and energy into space expansions is up to you, but we don’t suggest making more room immediately before placing your home on the market.
Conversely, if you plan to stay and enjoy the house for an extended time before selling the house, this could be a good option.
Homeowners can make more space in their kitchen for:
- Food preparation at mealtimes
- Storage of utensils, food, etc.
- Eating and entertaining accommodations
Furthermore, you can expand bath areas for:
- Storage of clothes, makeup, etc.
- Routine health activities like brushing teeth
- Relaxation elements such as lounge chairs
Before You Renovate
It can be easy to get caught up in making the home renovations suit your taste. But, if your plan is truly to increase home value and resale the house, you must consider the style choices of those that are interested in your property.
Potential buyers want to picture themselves in the home they’re viewing. While the home may have already been lived in, it’s important to show prospects that the house on the market can be the perfect place for them to live their lives for years.
We recommend going with safe options, such as neutral colors, as opposed to creating a personalized space. While unique touches might appeal to you, they might not interest others. Prospective buyers might view it as an area they’d have to fix or get rid of on their own time, which isn’t a thought you want them to have.
Increase Your Home’s Value Today
From cosmetic changes to appliance upgrades through varying areas of your home, you are doing more than beautifying the space – you’re increasing the value of the property.
Consider an outsider’s opinion when renovating your house for resale.
If you’re interested in increasing your home’s value, contact our professional kitchen and bathroom remodeling contractors. We can renovate your house according to your vision, as well as offer insight into the best materials to use for increased worth.
To schedule your free home remodeling estimate, fill out the contact form on our website.