Don’t place that ‘For Sale’ sign out in your yard just yet. Making a few renovations before putting your house on the market can potentially increase how much you end up selling your home for.
But keep in mind, many major home renovation projects result in little to no return on investment. In fact, many homeowners end up losing money on major projects like remodeling the garage or expanding the deck. But, if you are selling, there are a few home renovation projects that can possibly help you get more money for your home.
Remodel Your Bathroom
Minor bathroom upgrades can go a long way. Brightening up a small half bath with fresh paint and updating the faucets and bathtub can rejuvenate the room. Keep costs low by focusing on replacements and fresh paint instead of any major transformations. Once you start rearranging the plumbing or getting into the pipes, your return on investment drops drastically.
Upgrade Your Front Lawn
Curb appeal is a big factor in your home’s selling price. The front of your house displays its age and how you care for it. If you haven’t power washed the siding or trimmed the trees in years, then you will be pleasantly surprised by how new it looks when you do. Not to mention, potential buyers start judging your home the second they pull up, so you’ll want to make sure your yard looks its best.
This doesn’t mean you need to completely change the landscaping, which can get pricey. Instead, make quick enhancements like installing garden bed borders and adding flowering plants. Even small touches like adding fresh mulch, trimming the shrubs and reseeding the grass can help increase your home’s value.
Replace Your Insulation
Savvy home buyers know to look at the state of the insulation. If they see crushed, moist, or dirty insulation batts, they will try to negotiate for a lower price. Plus, replacing your attic’s insulation is one of the easiest renovations you can make. Pulling down the old, pink batts of insulation and replacing them with new ones is the perfect opportunity to check for damage and make any minor repairs.
Additionally, different regions call for different degrees of insulation. Buyers in cold climates are typically willing to pay more for good insulation if it means they’ll save money on utility bills.
Focus on What Sells, Not Just Increased Value
If you’re transferring to a new job or you already found a new home, your schedule may be a bit hectic. Even though your real estate agent can handle the sale while you get settled in, it can be tempting to accept the first offer and move on. But with the right renovations, you can potentially make a quicker and a profitable sale.
Pick the projects that add the most curb appeal and value to your home. Homebuyers tend to focus on the kitchen and bathrooms the most. So, replacing the caulk, upgrading light fixtures and refreshing the paint are quick and visible renovations. Changes to the outside can also attract home buyers, so make sure your exterior and lawn match or exceed your neighbors’ landscape.
These simple and cost-effective home renovation projects can potentially help you get top dollar for your home and ensure it doesn’t go stale sitting on the market.