Four home upgrades that will fetch you a high return on your investment.
When preparing your house for sale, you may be led to believe that the more upgrades you make, the higher the price you can list for. However, not all home upgrades are created equal; some will have you pouring money down the drain, while others will get you immediate resale value. Understanding which projects to take on can help you make thousands of dollars more. So, what home improvements should you do if you want to get a fantastic return on your investment?
To answer this question, we have to take into consideration the changes that happened in the past few years. Our homes were recently put through a massive re-evaluation. In response to the pandemic, there are now certain features in a home that have become much more attractive to buyers. If you can include them in your upgrades, you can increase the value of your house and turn it into a coveted property in the market. In particular, there are four projects you’ll want to take on:
1. Update your appliances and systems. Many buyers care about the age of the roof, so make sure to get it checked and know that your roof is functional. Also, we all know how important air conditioning is in our area, so check to make sure your unit is working to its fullest capacity. Then in the kitchen, most buyers love to see stainless steel appliances, so consider upgrading if it’s possible for you.
2. Add more usable square footage. Projects such as creating a home office space, building an open floor plan, and finishing your basement can give you that additional space that buyers want nowadays. Working from home has increased dramatically since 2022, so if there’s a way for you to create space for that, it would increase the appeal of your home. In addition, buyers love open floor plans, so prioritize that if possible.
“Understanding which projects to take on can help you make thousands of dollars more.”
3. Improve your curb appeal. One of the best ways to improve your home’s curb appeal is by focusing on your landscaping. Make your home look more enticing by adding healthy plants and blooming flowers to your yard. Make sure the lawn is taken care of, and make everything look nice and manicured.
4. Upgrade your outdoor space. Functional outdoor spaces such as a deck, a fireplace, or an outdoor kitchen are now more valued due to the pandemic. If your home has a nice exterior living area, buyers can imagine themselves enjoying the fresh air as they indulge in outdoor activities. If you already have an outdoor oasis, pressure wash or make repairs if necessary for a low-cost way to improve your home’s value.
Also, remember that not every project has to be large. Upgrades can be as simple as painting a room, updating your mailbox, and even switching out your house numbers. Larger home improvements can get expensive, so you want to make sure you’re investing in the right projects. If you’re not sure whether your renovation plans are worth pursuing, feel free to call or email me. I’m happy to give you real estate advice and help you get the best value for your home.
