If you are thinking about selling your home, you will want to get the best return on investment possible. Certain types of renovations may offer greater returns and help your home to sell more quickly. You should also understand how to figure out what your home is worth and the value that your renovations might add to it. This can help you to command the best selling price so that you can enjoy higher profits while also drawing buyers quickly instead of your home languishing on the market.
Ways to Increase Your Home’s Value
If your home is outdated, it’s time to spruce it up so that you can increase its value. You should keep in mind that not all renovations are equal, however. Some renovations help to increase the value of homes much more than others because of how buyers value them. If you want to renovate your home, you should concentrate on the types of remodels that are likeliest to turn buyers’ heads.
Bathroom Renovations
Bathroom renovations offer some of the highest returns on investment of any type of remodeling work. While bathrooms used to be primarily utilitarian, they are now valued as spaces in which people can relax.
Consider choosing natural stone for your flooring and countertops. Adding heated flooring is also a sought-after feature in homes. If your bathroom is small, think about using light-colored marble and paint so that the light reflects around the room, making it appear larger. Under-mounted sinks are preferred over drop-in sinks. Use wall space for added storage. If you have the room, installing an infinity shower can give your bathroom a seamless look. Make sure to keep your bathroom counter free of clutter. Using decorative jars to store such items as cotton balls can make your bathroom appear inviting.
Kitchen Renovations
Kitchen remodels also offer a strong return on investment. Instead of just being rooms to prepare meals, today’s kitchens are the central areas of entertainment.
Durable natural stone that can withstand heavy use is a good choice for kitchens. Quartz countertops have the appearance and feel of natural stone but are much more durable. Granite floors and countertops are other good choices. You should think about installing high-quality wood cabinets or at least updating your existing cabinets with new doors and handles. Kitchen islands that include sinks add to the preparation area, and you can also add bar stools along an island to provide more seats for guests and family. The faucets and sinks that you choose should be both functional and beautiful.
Basement Remodels
If your home has an unfinished basement, finishing it can add significant value to your home while also adding to its living space.
If you plan to finish your basement, you will need to make certain that your basement windows and doors comply with your local codes for ingress and egress. Windows must have window wells and be large enough for people to get out and firefighters to enter in the case of a fire.
You will also want to make certain that you have sump pumps installed. If your basement is prone to flooding, you might want to avoid remodeling your basement and instead choose to remodel another area of your home.
General Sprucing Up
Before placing your home on the market, you will want to make certain that all your interior walls have a fresh coat of paint. Choose neutral colors because they appeal to a broader range of potential buyers. Everything should be spotlessly clean. If you have old carpeting, consider replacing it with hardwood or laminate floors as they are prized by buyers.
Add to Your Home’s Curb Appeal
Your home needs to have strong curb appeal to command the highest price. If it needs to be painted, paint it. A beautiful front door can serve as a visual focal point and increase your home’s attractiveness. Pay attention to your lawn. It should be free from debris, including leaves, sticks, rocks, and other items. Plant flowers in front of your home and think about adding flower beds if you don’t already have them.
How to Find Your Home’s Value
There are several avenues that are available to you to help you to determine the accurate value of your home. This is important because if you ask too much, you run the risk that your home will languish for months on the market without selling. If you ask too little, you may have a quick sale but receive far less than what it is worth.
You can start by talking to local realtors. A realtor may complete a comparative market analysis in order to provide you with a baseline value. You can then check to see what the homes in your area are listed for and what similar homes have recently sold for so that you can choose a good sales price.
Online house valuation sites such Zillow and Redfin offer estimates of home values. You can input the data about your home into these sites to get a rough idea of the value of your home. Finally, you can choose to hire an appraiser, but you should be prepared to pay several hundred dollars if you choose to do so.
Maximizing Your Sale Price
To get the most out of your home sale, choosing the types of renovations that buyers appreciate can help you the most. Most buyers look at an average of three to five homes before choosing one. Make certain that your home’s walls are painted in neutral colors as it is easier for people to visualize the home as their own when there are not a lot of brightly colored walls. Everything inside and outside of your home should be tidy. Your lawn should be mowed and watered, and you should put away any equipment that you normally leave out. Install recessed lighting if you can or at least update your light fixtures to add light to dark spaces.
Renovating your home in order to sell it for a higher price can be a good decision. Make certain to choose the types of renovations that will add the most value to your home and know what your home is worth before you list it. When you take the right steps, you might maximize your profits and enjoy a quick sale.