When we’re getting ready to sell our homes, most people start searching for the best ways to make as much money as possible. What comes to mind for many is the idea of renovating or remodeling parts of their property.
These changes can be a large and expensive undertaking, so it’s vital that you head into it informed and don’t accidentally pour money into your home’s wrong part. Here are the top remodels to improve your home’s value and what parts of these rooms to focus on most.
Keep Up With Your Kitchen
Kitchens are the best place to try and win some extra value. Updated kitchens always bring in more money, as long as you don’t go overboard with supplies or work. Some high-end finishes, updated appliances, and great lighting can go a long way into swaying a buyer’s wallet. Instead of asking yourself, “How much is my house worth?” you’ll be taking offers above what you could have wanted. Ensure that while you’re updating your kitchen, you’re also deep cleaning any grout or tile and getting rid of grease or other grime. The cleaner your kitchen, the more updated and fresh it will look.
Redo Your Exterior
Surprisingly, the top thing to update isn’t one room or area of your home- it’s the full exterior! The most massive returns seen on the outside of your home are usually in siding and garage doors. A new garage door costs, on average, one to five thousand dollars depending on the style. In return, homeowners see a value increase of their home from ten to twelve thousand dollars. That’s a considerable hike from a relatively small investment.
Updating your siding improves curb appeal and helps a house sell faster. Siding an average one-story home can cost two to fifty thousand dollars, depending on the material. Research what’s popular in your area, and ensure you make a cost-effective choice when updating your home. The average return on new siding is an increase of twelve to fifteen percent to your home value.
What Doesn’t Work Well?
Don’t remodel your bathroom! Although it’s easy to look at an out of date bathroom and want to redo it to sell, you’ll lose money by doing so. No matter how much work you put in, you won’t get a solid return that offers you anything more than a headache when trying to sell. Homebuyers often like projects, since it allows them to put their fingerprint on a property. Leave your basement alone, and give them this opportunity.
Don’t finish your basement right before you sell. Our cellars are something we often put off if they aren’t finished when we buy our homes. They offer a chance at more rooms, rental possibilities, or office and hobby space. Remodeling or finishing your basement may sound like a great project to take on, but unless you’re planning to live in your home for a couple more years, it isn’t worth it! Basement remodels only have a 70% return, which means you’ll lose money by completing it.
