If you are considering selling your home in the near future, then thinking about different projects to improve your home’s value is a good idea. For homeowners who are not careful about the types of projects they choose to complete, it is easy to get in over your head. You want to be sure that the projects you choose to do are going to add some real monetary value to your home.
1. Upgrade the Kitchen
Families spend an overwhelming amount of time in their kitchens. When someone walks into your home to view it as a potential home for their future, they really want to see a clean, impressive, and upgraded kitchen. Ask any real estate agent, and they will confirm that nothing can kill the sale of a house like an outdated kitchen.
In order to know how much money to invest in your kitchen, it would be wise for you to take note of what other homes in your area are selling for. Your kitchen should match the price of the home that you are wanting to sell. However, research shows that investing in kitchen upgrades is one of the best ways to increase your overall selling price for the home.
No matter what, you should always choose a neutral color for the walls of your kitchen. Next on your list should be to replace outdated appliances with modern, energy efficient appliances throughout the kitchen. Finally, if you have money remaining you can discuss upgraded countertops, cabinetry, and even a backsplash.
2. The Bathrooms
The bathrooms are another area of the home where potential homeowners really do not like to see outdated fixtures. If your bathroom fixtures are outdated, you can usually recoup most of your investment when you take the time and money to update a bathroom. This is especially true of a master bathroom, which tends to be the buyer’s biggest factor to consider in buying a new home.
If your home does not have plenty of bathrooms, then you might also think about ways that you might be able to add a bathroom to your space. This is a huge selling factor when buyers know that their potential home has plenty of bathroom space for their family.
3. Re-Think the Space
When your home has an awkward layout or only has three bedrooms, you can sometimes get a huge return by re-working the space that you have to deal with. Especially in areas where families are looking for four-bedroom homes, you should be considering how you might use existing space to create more livable square footage.
Of course, adding an entire bedroom onto your home might seem a bit excessive and too expensive to get your money’s worth out of. However, if you have an unfinished second floor, or even a basement, you can finish those areas to create more square footage. Adding livable space to your floor plan is a great way to make a bigger amount off the sale of your home.
4. Outdoor Living Areas
Families love to have outdoor living areas to entertain friends and family. They also like private spaces where they can watch their children play without running into the whole neighborhood. Outdoor living spaces are easy to create on a budget. Whether you simply choose to have a deck built, put up a privacy fence, or even invest in some landscaping. Having outdoor living is almost always a wise choice in the world of real estate.
5. The Master Bedroom
The master bedroom is one of the most important features when you are trying to sell a home. Ensuring that the master bedroom is a space that is relaxing and functional is an important task for the potential homebuyer. Whatever your budget is for this project, be sure to choose a neutral color palate, and ensure that the closet and bathroom are as impressive as a buyer might expect in this neighborhood.
Whether you are a homeowner who is looking forward to selling a house or an investor looking to flip a house for some cash, there are specific areas you should focus renovations on. Especially when working in a tight budget, these five areas of the home are the most important to your potential buyers when it is time to close the deal. Be sure to upgrade the home, but not to overdo your upgrade with too much frill for the neighborhood.