Not all renovations are equal when it comes to increasing the value of your home when you’re ready to sell it. There are some remodeling jobs that will certainly be more attractive to potential buyers and these may be the ones you want to focus on when spending money on renovating. Below are some tips you may find useful when your goal is to increase the resale value of your home.
Before setting aside your time and money on renovating your home though it’s never a bad idea to hire an inspector first to see if there are any necessary repairs that need attended to. For instance, if there’s dry rot in the home or it needs a new roof you should take care of this first as it will detract from the value of the home. Once you have the home inspected and take care of any problems it will pass with flying colours when the potential buyers have it inspected. If they know they don’t have to spend any money on repairs and it’s move-in ready, the home will be much more attractive to them and it’ll will be easier to receive your asking price.
Come up with a plan and budget
Your upgrades will have a far better chance of increasing the home’s value if you take the time to plan them out intentionally instead of completing them just on impulse. Also, don’t rush things as there’s no need to get the job done as quickly as possible unless you plan on selling immediately. It’s recommended that you work on one room at a time. Make a list of the areas you’d like to update or change and don’t be afraid to get some input from a local realtor as they will know what buyers are looking for in your area. You also need a realistic budget as you don’t want to spend $100,000 in renovations while the value of the home goes up by just $20,000.
Not every renovation project has to be a huge one. You can add value to your home by taking care of smaller things too such as faucets, windows, doors, artwork and furniture. Your house will be more attractive to buyers if it’s bright and clean compared to being dull and a little dingy. Be sure to keep on top of regular maintenance and don’t let clutter and dirt build up.
You only have one chance to make a first impression on a prospective buyer, so take the time to look at your home from the street and as yourself if it looks attractive. If not, you may want to spruce up the outside of it before renovating the inside. Don’t forget to inspect your home from all angles as the sides and back of it are also important to buyers. Therefore, make sure any fences, decks, pools, and ponds etc. are in good shape.
One of the first rooms buyers will look at is the kitchen since this is where much of a home’s social activity takes place. An up-to-date, attractive kitchen with modern appliances can definitely add value to your home and this may be where you spend the majority of your time and budget. Along with the appliances, you may want to consider the flooring, an island, the walls, lighting, sinks and cabinets. Keep in mind that many buyers are interested in stainless steel appliances these days.
Your home’s bathrooms will also have a big impact on buyers and it’s well worth beautifying them before selling. You can focus on the plumbing, fixtures, mirrors, lighting, cabinets and countertops etc. and heated flooring is quite popular.
A finished basement will add considerably more living space to your home and that’s something buyers are often looking for. It’s a good selling point since the work has already been completed and most homeowners aren’t looking forward to spending time and money on doing it themselves. An attic conversion is another way to add living space and attract buyers.
The Laundry Room
You may find that buyers are more receptive to an upstairs laundry room located near the kitchen or master bedroom. By moving your laundry appliances to one of these areas you could increase the resale value.
Low energy costs are always appreciated by buyers and if the furnace, heating system and water heater are all energy efficient and in good working order it will impress house hunters. The same can be said of high-efficiency windows as they’ll cut down on heating and cooling costs.
Nobody wants to move into a home that needs a new roof, so if yours needs upgrading it’s well worth the money and it can be recouped by adding it on to the selling price.
If your home has a yard you can always raise the value with attractive landscaping and perhaps a patio, deck or even a garage if you don’t have one.
A reliable security system is a good way to give you some peace of mind while living in the home as well as upping it’s value when selling it.
The possibilities are more or less endless when renovating or upgrading a home before selling it and this is why you should take the time to speak with a realtor. They’ll know what specific things buyers in your community are looking for and are willing to spend their money on. If you are thinking about making renovations to your home, contact York Construction Company today. We offer free, in-home consultations and will work with you on creating the best design projects within your budget.