Smart Home Renovations

Renovating and updating your home can make your property more appealing and attractive to buyers (and to you, while you are still living there!). It can reduce the time your home stays on the market and help you achieve a higher selling price.

Many people invest a lot of money into a major renovation and then price their home in hopes of recovering 100% of the costs, only to find that their home stays on the market for months without any buyers. It is reasonable to think and expect that improvements will increase the value of your home, but make sure you’re realistic with your expectations.

So, if you’re preparing your home for sale, what are some of the smart home renovations that will actually give you higher value and higher-paying buyers? Smart home renovations

KITCHEN

Many buyers treat the kitchen as the heart of the home. Since kitchens often follow trending décor, it can become dated faster than other rooms. Still, buyers have strong priorities when it comes to kitchens. Generally, you can expect a major kitchen remodel to return about 85 to 90% of your investment. But if you’re selling your home quickly and can’t afford a full renovation, the following easy and inexpensive alternatives to a complete makeover are likely to pay for themselves:

  • Space-saving organizers like pull-out shelving
  • Repainted white cabinets and new hardware
  • Updated appliances
  • New countertops
  • New faucet
  • Under cabinet lighting is a great way to highlight that new countertop
  • Ceramic tile backsplash
  • Updated light fixtures

Remember that even a state-of-the-art, fabulous kitchen loses impact if your gutters are leaking, your heating system is malfunctioning, your roof is missing shingles, or your toilets rock. So always consider those areas, too.

BATHROOMS

Give your bathroom added value by making it look new without changing the floor plan. Toilets, sinks, faucets, window treatments, paint, and mirrors are inexpensive ways to transform your bathroom. Scrub your tub until it shines, no matter what color it is. Clear off the surfaces, introduce a light scent, paint with a space-expanding hue, invest in beautiful towels, and update the hardware. Make it as clean as new!

Renovations to a bathroom usually return 75% of the value in an appraisal.

DECKS

Aside from painting, installing a deck may be the most cost-efficient way to add square footage to your house and as an outdoor home improvement. Deck additions generally recoup 85% of their value.

Make your yard look great! Pull out overgrown bushes or hedges and replace them with smaller, neatly trimmed greenery that makes the house look newer. You don’t need fancy gardens that require a lot of money, just make your current garden look young and fresh! The same goes for fences and stone walls – they look nice if they are brand new, but buyers don’t pay up for them. Be careful with your renovations; only proceed with items that will return you most of your money.

BOTTOM LINE

Go into your home improvement projects with the goal in mind that you’re doing this for your own enjoyment, and not as a way to make money. Make smart home renovations and you’ll be happy now and when you sell your home.

 

 

 © 2017 Jennifer Pollock, Broker/Associate Keller Williams Downtown, Denver, CO, Lic. Colorado