When it comes to home renovations and upgrades, there are two things to consider – whether this will increase the value of your home to you or it will increase the value of your home to others. Of course, if you plan to live in your home for many years to come, you will consider the first thing. However, if you plan to put your home on the market and ask for the best possible price, you must consider the second thing and implement home upgrades that increase the resale value.
Therefore, keep in mind that not all home upgrades are the same. When selling your home, you must think about the enhancements that will increase your home’s overall value and attract many buyers. But, do not worry – we are here to help you out!
Update Your Kitchen
It goes without saying that kitchens are the ones selling the home. Thus, if your kitchen is outdated and dysfunctional, you might want to start your renovation there. But, be careful. When renovating the kitchen, going overboard is easy. You can easily add all the most modern appliances, replace the cabinets, add an island with a marble countertop, etc. However, when you add all of this to your kitchen, that is, when you invest all that money in your kitchen, will you be able to recoup that money afterward? Probably not!
The condition of your kitchen must match the rest of your home. Thus, when remodeling, consider the cost of the materials versus their value. If you want to play it safe, we suggest doing more minor changes. For instance, you can repaint the kitchen, add a window over the sink, and replace a fridge for a newer version with a big compartment for salads – people are going crazy about eating more salads these days. Trust us, small changes like this make a huge difference.
Update or Add Another Bathroom
Like kitchens, bathrooms also play a significant role in reselling your home. If the bathroom you currently have is a complete mess, the chances are that most of your potential clients will walk away. Nobody wants to buy a home that requires an additional project. Moreover, if your home has many rooms, that is, if your home is for a bigger family, you might also want to consider adding an additional bathroom.
In some cases, your bathroom will only need a change of a faucet or a toilet bowl and a deep clean, but you might need to renovate everything in other cases. Take everything into consideration. Spending too much money on renovations only to realize you cannot return it is a huge mistake. One way to you keep away from mistakes is to talk to your seller’s agent. Ask him/her about this project and whether it is necessary.
Add a Home Office
The year od 2020 was the year when we all realized that home offices are a must. Most people had to work from home, and those who did not have an office were in big trouble. Bedrooms, kitchen, dining rooms, etc., were all crowded with paperwork, computers, and all sorts of work-related things. But, not only that, those rooms were filled with children, pets, food, turned on TVs, and all other things that cause distraction.
Be sure that all people who are buying dream homes right now will request an office! So, you know what to do. If there is a spare room in the house, turn it into an office. It’s another one of the home upgrades that increase the resale value. If there is not, then make room for it. Be creative. Find a space in your basement, attic, or even in some other room in your home. Trust us; this is something that will sell your home instantly and sell it for a lot more money than you expected.
Curb Appeal and Landscape are Also Home Upgrades that Increase the Resale Value
When people think about renovating and upgrading their homes to increase their resale value, most of them focus on the interior. However, the exterior is just as important. If your house looks abandoned and run down, some buyers might not even bother to enter the home and see what is on the inside. Thus, do your best to improve the curb appeal of your home.
Luckily, landscaping will not cost a lot of money, nor will it take up a lot of your time and energy. You can just trim the grass, add some trees, bushes, and flowers, create a nicer path to the home, etc. If you want to go all out, you can even consider repainting the exterior of the home, changing the fence, adding a deck, or even adding a pool/jacuzzi. With these exterior updates, the price of your home will rise instantly and significantly!
Finish the Basement and the Attic
People are continually looking for ways to boost space in small living rooms, kitchens, bedrooms, etc. If your home is small, you should also work on that! But, there is another way! If you are lucky enough to have a house with a basement or attic, you will be able to create more living space there and not worry about boosting the space in other, previously mentioned rooms. Those rooms can become living areas like bedrooms or second living rooms, or even playrooms for children. Or, you can think bigger – they can become gyms, home offices, storage spaces, etc.
It is important to utilize all the space you have in your home. If you are not sure what to turn these basements and attics in, renovate them. Renovate them enough so that potential buyers can use them the way they want to. In most cases, you just need to add flooring, repaint the walls, and declutter completely.
These home upgrades that increase the resale value will make a significant difference when you decide to sell your home. However, be careful not to spend more money than will return to you.