When it comes to home renovation, not all projects are created equal. Some are very costly and add little to your resale price. Others are cheap, and can make a world of difference. Here are seven renovations to consider if increasing value is a priority.
- 1. Beautify the bathrooms
- Entering the bathroom for the first time is an important moment for many potential buyers. Aging fixtures, crumbling grout, or fading paint can leave an ugly impression. Many of these improvements are relatively cheap and quick, and can make your bathrooms a lot more appealing. Investing in modern sinks and toilets may not be quite so easy on the wallet, but it can make a huge difference. If the tub is old and stained, consider ripping it out in favor of a roomy shower stall. Bathrooms are one place where real estate agents and buyers appreciate the extra effort.
- 2. Finish that basement
- It may be on the cold and damp side, and you may have been using it for nothing but storage for the past decade—but unfinished basements are potential weak spots in terms of overall marketability.
This isn’t always the case. If there is already plenty of space in the home, finishing a basement may not give you the kind of return you’re looking for. But even if the sale price doesn’t reflect the investment, the house will be more attractive and likely to sell. Even inexpensive improvements can drastically improve the basement’s appearance and usefulness. A real estate agent can sometimes help you decide whether a given home renovation is worth it.
- 3. Improve the Layout of the Kitchen
- Marble countertops and stainless steel appliances are very attractive, and if you can afford them, they will add value. However, even more important to potential buyers is the layout of the kitchen. Well-positioned sinks, countertops and dishwashers can make working in the kitchen much easier. If you put some thought into this, and find a way to improve your kitchen’s layout, you’ll have another strong selling point. Never underestimate the power of a well-done kitchen!
- 4. Open up Space
- Floor plans of the more “open” variety have been increasingly desirable in recent years. Removing a non-structural wall can be relatively inexpensive, and can literally transform the look and feel of a home.
- 5. Give Your Landscaping Some Love
- A 2012 survey by Homegain named landscaping as one of the top five ways to get a return on your home renovation dollar. The appearance of a house from the street is, after all, the first impression. Make it a strong one by replacing dead or ailing plants, adding accents of rock and wood, and trimming overgrown branches.
- 6. Let There Be Light
- The difference between a well-lit space and a dark room can be dramatic. Natural light is especially attractive, as it gives a more cheery atmosphere to the home. There’s always the possibility of adding a window to a closed-in room, but bringing light in through the roof is another viable option. “Sun tubes” are relatively cheap compared to traditional skylights, and can turn a dark entryway into a bright entrance flooded with light.
- 7. Back to Basics
- There are many types of home renovation which, although they don’t add much in the way of aesthetic value, go a long way toward increasing the value of the house. Think insulation, plumbing, wiring. Think ventilation and rain gutters. When you can confidently say that these necessities have been taken care of with quality materials and workmanship, you’ll notice that agents and buyers see a more sound and attractive investment.
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