When selling a house, there are several home improvements you can make in order to receive a return on your investment (ROI). Here are a few things to consider doing to maximize your ROI.
Upgrading the Kitchen and Bathrooms
According to HGTV, upgrading your kitchen and bathrooms can return more than 100 percent of the cost, upon the sale of your home. This is because the kitchen and bathrooms are often the most expensive areas in house, when considering construction. When potential buyers view your home, they almost always look to these rooms to see if the money to upgrade them has been invested.
Because most people spend large amounts of time in both of these specific rooms, it is important to them that these areas have good, working appliances that are attractive to the eye. The hottest trends among bathroom and kitchen remodels consist of wood cabinets and natural wood or stone for floors or countertops.
If your house has a significant number of bedrooms, but only one bathroom, you might want to consider adding a second bathroom. Many people who buy homes with multiple bedrooms have children, and it is probable that they want a bathroom separate from their kids’ bathroom.
Replacing the Front Door
Even as the essence of the house, the front door is often overlooked when remodeling homes. This project is often simple and comes with a low price tag, but it can create a much higher ROI. By replacing the front door to your home, you are updating the style of your house. This update can add curb appeal to your property, making it more attractive to potential buyers.
Replacing Old Siding
In addition to adding curb appeal to your home, you should consider replacing any old siding that might be on your house. Not only is damaged siding unattractive to potential buyers, it can adhere to the idea that other necessary maintenance might need to be performed, as well. If the outside of your home does not look like it is in good shape, it is possible that potential buyers would not even want to see the inside.
Often a cheap endeavor, painting the interior of your home could prove to be beneficial when trying to increase your ROI. You can either have this professionally done, or you can do it yourself. However, when potential buyers are looking for a home, they can be discouraged from a sale if the interior of the house is painted a non-neutral color.
If you have non-neutral colors in your home, it might be a good idea to repaint the walls a tan or gray color. This way, when a potential buyer views your home, they are not distracted by the fact that they might have to paint, which can seem like a daunting and expensive task, in addition to purchasing a new home and moving.
It is crucial that if you are painting to correct scrapes, marks or discoloration that you cover an entire area from corner to corner. Matching fresh paint to existing is nearly impossible & a buyer will be quick to tell the difference. Here are 4 additional renovation projects you might be interested in.
If you have any further questions on home improvements and ROI, please go to our website or give us a call at (972) 992-1471 to schedule an appointment.