Did you know that projects such as re-roofing and painting your home’s exterior only raise your home’s value by 10%?
Are you wondering what projects are worth the cost and what are flops? You can spend all this money on a renovation that just isn’t worth it and could hurt your wallet.
If you’re wondering what’s worth it for updating homes, read on to discover the secret to updating homes so renovating will make you a profit!
1. Paint the Walls
When you’re considering selling your home, if any of the rooms in your home are darker colors, you’ll want to paint them with neutral or lighter paints. When a potential buyer comes to your home, neutral walls will make your home appear larger and more desirable to them.
Consider washing the walls and windows as well to make sure everything looks polished. If your walls are already light-colored or neutral, make sure there’s no peeling paint or fingerprints.
2. Exterior Improvements
When you’re contemplating renovations, it’s important to decide what will make you a profit, and what will have you break-even but help you sell your home. Did you know that the best-performing exterior project was the garage door replacement last year?
According to the same report, the only internal remodel in the top 10 was a kitchen remodel in a midrange home.
3. Nicely Landscaped
When a potential buyer pulls up to your home, the first thing they’ll see is your landscaping. A nicely manicured lawn and nicely planted flowers can increase the value of your home. Consider updating the furniture on the front porch for a more polished look.
Replace your welcome mat and make sure your front door is nicely painted. Consider black paint for your front door depending on the colors of the rest of your home.
4. Say No to Carpeting
Carpeting is just something most people don’t want. Most potential buyers will pay more for a clean and shiny hardwood floor. You don’t want to lose buyers because you have carpeting on the floor instead of wood floors.
They’ll think about how much it’ll cost to replace the carpet instead of appreciating the beauty of the room. If you have nice flooring underneath you can pull up the carpet. If not, you’ll definitely want to invest in new hardwood flooring.
5. Fix Doors and Windows
If you have an older home with windows that creak and don’t open easily, it’s time to replace them. Many buyers will open and close windows to see how they are, so don’t think it’ll be overlooked.
If they notice a window hasn’t been repaired, they might wonder what else in the home hasn’t been fixed.
6. Appearance over Function
When you’re renovating your home and wondering what adds value to a home, focus more on aesthetics than functions such as a new water heater. They’re not going to care as much about a water heater as long as it functions. If a home inspector tells you it must be replaced, then you’ll want to replace it, but if it’s fully functional let it be.
Focus on light and neutral-colored paint for larger rooms, and cheerful and bright colors for smaller rooms like guest bathrooms. Also, for smaller bedrooms consider cheery colors as well to make it feel bigger.
7. Upgrading Hardware and Fixtures
Consider having new cabinet hardware and fixtures for your kitchen and bathroom upgrades. While certain upgrades aren’t worth it, this can be, but watch the price since it can be pricy. Your best bet is to do it yourself, even if you need to get it done quickly.
It should only take a few hours to replace this yourself. If your cabinets are in great shape, you can paint or reface them for an updated look.
Once you’ve upgraded the cabinets, make sure they’re neat because potential buyers will want to open them to see how much room they provide. Double-check all shelves, hardware, and drawers aren’t loose.
8. Upgrading Lighting
Before you sell your home, have a stager or your realtor come in and take a look at the lighting in your home. You’ll want lighting that’s current and up-to-date so it won’t age your home.
If you need to upgrade your lighting, you can go to your local home improvement stores for modern lighting options. This can really update the look of your home, and help it be warm and inviting instead of dark and aged.
9. Kitchen Upgrades
If you’re looking for inexpensive kitchen upgrades without breaking the bank there are several options from cleaning countertops to paint. You’ll want to make sure to paint the kitchen cabinets, trim, moldings, entryways, and baseboards.
Any personal photographs, religious or political decorations you’ll want to remove before the potential buyer sees them. When you have personalized items it makes it harder for them to envision themselves in the home.
Any dated microwaves or dishwashers you’ll want to replace. Make sure to clean the countertops and take a look for any grout issues, nicks, or cracks.
Avoid Low Resale Renovations
Areas that are known to not have good resale value are basements, attics, offices, theaters, backyards, and decks. Reconsider any additions you’re contemplating for bedrooms, bathrooms, and kitchens since they generally aren’t worth it.
Updating Homes Before Selling
Before doing any renovations, always check the current market to see what’s doing well and what’s a flop. This guide will help you when deciding what’s best for updating homes to be more likely to sell for a great price.
Are you ready to get started and sell your home? Contact our team today and we can help you sell your home for a nice profit!