Looking to boost the value of your home through a renovation project? Get educated on which upgrades can give you the greatest return on investment (ROI).
The first thing buyers see when touring your home is the exterior: siding, windows, and doors. If the paint on your door is chipping, guests will be immediately turned off. Show prospective buyers that you’ve put work into maintaining the quality of your home by performing simple fixes such as applying a new coat of paint, trimming unkempt shrubbery, and cleaning leaves out of your gutters.
A house with an outdated kitchen is an immediate red flag for buyers. Kitchens are one of the first things homebuyers consider when purchasing a home, placing this room as number one on our list.
The cost of remodeling a kitchen can vary widely, from doing a simple facelift all the way to gutting the whole room. When contemplating what your kitchen needs, compare the current value of your home to the houses in your neighborhood. If the average price of houses near you is $300,000 and you invest $60,000 into a remodel, you are exhausting your budget in an unneeded area.
An satisfactory facelift may suffice. Perform basic updates such as replacing old appliances, installing new light fixtures, and refinishing surfaces. Switching out old hardware such as cabinet handles can make a large impact.
Converting your Attic
According to the US News Report, 73 percent of your investment will be returned when you convert your attic into a bedroom. A potential buyer is looking for utilization of space and maximum bedrooms. Additional square footage from unused attic space can have a substancial impact on bolstering the value of your home and could be the deciding factor for buyers. However, be careful with this project as it is one of the most expensive renovations on the list: $50,148 on average.
Remodeling or adding bathrooms to your house could increase the traffic to your home while on the market. Investing in a bathroom remodel yields a 62 percent ROI on average. For the master bathroom, make sure not to skimp on finishings. Homebuyers are seeking a duel vanity, custom showers, and fantastic lighting. A quick surface renovation could turn off buyers rather than attract them.
For all other bathrooms, less may be more when considering the value of your investment. Giving the main bathroom a new coat of paint, a new toilet, and switching out the old shower head may be all the changes you need. However, cracked tile or flooring will definitely need to be addressed.
With an increasing number of individuals working from home, buyers often look for space to set up their laptops and lay out some paperwork. While a full-blown office may not be necessary, be sure to designate a space in your home for makeshift workspace.
Incorporate two staging secrets in one by downsizing your living room furniture and placing a small table and chair set in a corner of your living space. This gives the illusion of a larger room while showing buyers that there is ample space to incorporate the whole family. Another simple idea is to carve out a portion of your kitchen for an office. By placing a chair in front of a side counter, you are showing the dual potential of a room that buyers consider to be most important.
To get the biggest bang for your buck, be sure to depersonalize and undergo upgrades that will appeal to the masses. A singing fountain and a hot pink kitchen may be in your best interests, but consider the finishes that buyers are looking for when remodeling your home.
Find out what your home is worth at http://www.bellevueseattlehomes.com/sell/.
Selling but don’t have time to remodel? Check out some complimentary services that Team Troy Offers HERE.