4 Renovations That Increase Home Value
There are many renovations that can both increase your home’s value and make it easier to sell your property. Often, you can improve your home’s value by far more than the cost of the renovation itself, thereby making a considerable profit. Here are a few of the renovations that have the best Return on investment.
Painting the Interior and Exterior
A fresh new coating of paint is by far the fastest, easiest, and most affordable method of improving upon the value of a property. Choose pleasant but neutral colors, such as light blue or cream. Painting the interior and exterior of your home will make it look newer and brighter. It also gives you the opportunity to fix any cosmetic defects, such as scratches or dents within the drywall.
Bathroom Sink and Tub Remodels
Bathrooms are one of the major areas that most buyers will look at. When remodeling your bathroom, keep in mind that trends tend to fade out fairly quickly. For example, elevated bowl sinks were once very popular but have now become a liability because of their limited functionality. Instead, you may want to focus on simply updating the countertops, installing a new water-saving toilet, and getting a new bathtub or shower set.
New Kitchen Cabinets and Counters
With an expensive kitchen remodel, it’s usually best to first check comparable home values. The Dave Kearcher Team – RE/MAX Real Estate Group can give you a better idea of the property values in your area. You don’t want your kitchen remodel to extend your home’s value over all of the other houses in your area; most people don’t want to pay for the most expensive property in a neighborhood.
Fencing and Landscaping
Curb appeal matters. Many homeowners are looking for solid landscaping in addition to the property itself. Installing new fences and ensuring that the grass is bright and well-grown will often significantly improve the property’s value. Fencing should always be selected to match your neighborhood, as this creates a more consistent appearance and ensures that you don’t “over-invest” in your renovations. Many families with children or pets hesitate to purchase a house that doesn’t come with a fence.
Of course, the number of renovations you can commit to will usually be limited by the amount of money you have available to spend. You should never over-extend yourself when it comes to renovations because not all renovations will have a positive return on your investment. Instead, work with your realtor to find the most cost-effective plan.