When the time comes to put their home on the market, many sellers question whether they would see a return on investment by doing updates to their house. Having an updated home will help it sell more quickly, but it’s important to make sure you are choosing the right updates.
Worth the Work
One key feature home buyers are looking for is updated bathrooms. You don’t need to completely tear everything down to the studs, however. Replacing light fixtures, faucets, updating and retexturing the walls, and replacing flooring that has seen better days will make a major improvement without breaking the bank remodeling everything.
Along the same lines, remodeling portions of your kitchen can help. There’s no need to replace all the cabinets or update every appliance. Repaint, sand and stain the cabinets, replace cabinet pulls and drawer handles, and install a modern faucet. The things you will get the greatest return, you should be able to complete yourself with a little research; there’s likely no need to hire a professional.
The first impression your home makes to a potential buyer comes from its curb appeal. To improve that first look consider replacing the mailbox, add a few pots of flowers, paint the front door, and add a stylish wreath. You don’t need to completely redo the landscaping. A few simple touches will help.
Here in the south, there are a couple of improvements our northern neighbors may not see quite the return on – outdoor living spaces and energy saving projects. Since it’s possible to spend time outdoors 9+ months of the year here, having a deck or expanding your patio can be a big draw to buyers. Adding insulation to make a home more energy efficient is another inexpensive idea for those living in extremely warm or frigid climates.
While minor updates will generally give you a return on your investment, major remodeling rarely does – especially in the short term. If you’re planning to be in your home for many years to come, go ahead and rip out all the cabinets in your kitchen and start from scratch. Or tear the bathroom down to the studs and create the oasis of your dreams. You could even add on that extra room you feel would make the home perfect.
Just remember, those major projects are done to make living in the home more enjoyable for you, not to put money back into your pocket! If you’re planning to sell soon, be smart about the work you put in.