There are many ways to improve the resale value of your home. Some of them cost more than others, but more importantly, some of them increase the value of your home more than others. There are certain home improvements, fixes and renovations that will be more attractive to buyers and will increase their bid for your home. They might not be what you think and some of them probably won’t cost as much as you expect either.
In the Details
There are small repairs that won’t cost very much but can make a huge difference when it comes to the presentation of your home to buyers. This includes things like fixing broken electrical outlets and light switches, repairing cracked tiles, improving door latches and updating ceiling fans. Buyers will view these small details as reflecting the overall quality of your home. They may lower their bid if they perceive these flaws as pointing to deeper, more serious problems.
Behind the Scenes
You may be tempted to jump on a cosmetic makeover but we urge you to think first about the behind the scenes aspects of your home that provide a foundation for the long-term quality that buyers want. Things like roof repairs or replacement, siding replacement, HVAC system upgrades and plumbing updates are things that buyers assume are up to standards — it would be a huge disappointment for them to discover one of these features as lacking — not to mention they could lower the appraisal value and show up on your home’s inspection report.
Kitchens & Baths
In an article for HGTV, Steve Straughan, a partner in Los Angeles-based KAA Design Group, said, “Kitchens and baths are the areas in a home where you can tell if money has been well spent or not. They’re the most expensive areas of the home in terms of construction. And they’re where people spend time in their homes.”
When it comes to bathrooms, go with traditional remodeling elements to which buyers can add their own personal touch. If you have a multiple bedroom home with only one bathroom, spend your money adding another bathroom rather than remodeling the older one.
Now for the kitchen: invest in the basics because you don’t know if your buyers are cooks or not — make sure they have top quality when it comes to the essentials rather than spending money on expensive kitchen extras. The biggest fixes to your kitchen should be improving the layout because this will never go out of style.
This may seem like an overly simple fix, but repainting or replacing your front door can make your home much more attractive to homebuyers. This is their first impression of your home and can give them an idea of the overall value that they should expect the moment they cross the threshold.
(Bonus tip: Instead of spending large amounts on new cabinets, doors or fixtures, replace the hardware with new handles or knobs. This can quickly update the overall look of outdated cabinetry.)
As you begin the process of readying your home for sale or even just improving the value of your home for down the road, think about what will be most attractive to not just you, but the next owner of your home. If you’re ready to talk about the first steps you should take in getting your home market ready, Turner Homes is here to help. Your home improvement projects, repairs, renovations or additions are important to us and we want to do things right. Contact us today!