When you’re ready to sell, you’ll want your home looking its best! However, it can be easy to feel overwhelmed when considering what renovations to do prior to listing. Some renovations can be helpful, while others may turn off potential buyers. The goal of your renovations should be to make the home look move-in ready. In the meantime, the renovations should also make the home more livable for yourself. To help you figure out what renovations are worth spending money on, we’ll talk about the best and worst renovations you can do to improve your home’s value!
The Best and Most Cost-Effective
You don’t need to spend a fortune on renovations to increase the value of your home. Some of the most important renovations are aesthetic enhancements to existing parts of the home. The kitchen and bathroom are areas that you should really focus on.
Here’s what renovations we suggest you make on your home to get the biggest bang for your buck:
- Put a fresh coat of paint on the exterior and interior. This simple renovation, in a nice, neutral color will do wonders for the value of your home. Potential buyers will be able to envision themselves in your house if it looks bright, clean, and well-maintained.
- Minor renovations to the kitchen and bathroom areas of your home will provide the biggest return on your investment. In the kitchen, adding new hardware, painting the cabinets, and adding stainless steel appliances are all valuable updates. In the bathroom, consider updating the vanity, replacing the shower head, and re-caulking the tub.
- Updating the flooring throughout your home is also a great renovation idea. Replace worn carpeting, refinish hardwood floors, and get rid of outdated tile or vinyl flooring. If replacing carpeting isn’t in your budget, get it professionally cleaned just before listing your home.
- Simple landscaping will improve the curb appeal of your home and attract more viewers. This doesn’t necessarily mean you have to go out and buy new plants either. Clearing weeds, trimming existing plants, and fertilizing your lawn will go a long way.
The Worst and Most Expensive
As tempting as it may be to start large renovation projects in your home at this time, don’t! It often requires more time and money than you anticipate and doesn’t always increase your home’s value.
We suggest you focus on what can be enhanced about your existing home and stay clear of:
- Adding new rooms or bathrooms. If you’re remodeling an existing bathroom, it’s also unnecessary to create a luxury bathroom. This won’t provide the same return on investment as the smaller projects, like replacing the vanity.
- Finishing your basement or attic. This home renovation can be expensive and time consuming, especially when you need to get permits. Future buyers may prefer to be able to finish these areas themselves, in a way that works for them.
- Installing a pool or garage. Again, these home renovations are big, expensive projects that future buyers may not even need or want.
So there you have it. Some of the best renovations you can do to increase the value of your home are ALSO the most cost-effective! Happy renovating! When you’re done with renovations and are ready to list your home, learn more about finding a real estate agent and preparing your home for real estate photos.