Home renovations can be a great way to boost the value of your home and make it more enticing to potential buyers, but sellers should be careful what improvements they take on. According to the experts, some renovations can actually hurt the value or appeal of your home. If you are thinking of updating your home for resale in the future, check out this list before starting any project.
- Fresh Paint – This is the easiest way to give your home a quick update, but think carefully about what color to use. Neutral shades like grey, white, light blue, charcoal, and beige are your best bets. Even buyers who don’t like white walls will see value in how easy neutral walls are to customize. Avoid trendy wall coverings like wallpaper that might not fit with a potential buyer’s taste.
- Front Door – The first thing many buyers notice is the front door of your home. Updating your front door tells buyers that you cared for your home and kept up on maintenance, adding to your home’s first impression. The easiest and most cost-effective way to update your front door is to add a fresh coat of pain. Consider going with a bright, inviting color if that fits with your home’s exterior design. Replacing the front door and/or screen door will also excite buyers as soon as they arrive. Remember to keep it simple so that the new owners can still make the space their own.
- Bathroom – You don’t have to do a complete bathroom renovation to add value to your home. Instead, consider making smaller updates that will still catch a buyer’s eye. Changing the shower head, replacing the faucets, re-caulking the tub, or replacing the vanity are all relatively simple changes that add value. If your bathroom is out-dated, consider replacing or refinishing the tub and/or shower or even adding new floor and wall tiles. Avoid creating a luxurious or trendy bathroom. The best returns are on smaller, neutral updates that give your home a fresh, clean look.
- Go Energy Efficient – Improving energy efficiency is one of the best home improvements to do before putting your home on the market. Most buyers are conscious of improvements they will have to make in the future when looking at potential homes. If you want your home to sell quickly, consider making this upgrades before listing your home. Replacing older appliances with new, energy efficient ones is the easiest upgrade, but also consider adding insulation, replacing the roof, or even upgrading the hot water heater. Avoid installing solar panels just for re-sale value, as some buyers do not want the responsibility of maintaining them.
- Floors – Updating the floors in your home can make if feel new and increase the value of your home. Hardwood floors are the most expensive, but also one of the best, ways to increase value. If you already have hardwood floors, consider refinishing them. If you don’t want to invest in hardwood, consider more affordable options like replacing older carpet or installing vinyl flooring. Remember to keep color choices neutral, and avoid choosing unique or busy patterned tile that might not appeal to all buyers.
- Landscaping – You want your home to make a good first impression, and sprucing up its curb appeal is a great way to invite buyers and increase your home’s value. The rule of thumb with landscaping for resale is to keep the maintenance low. Some buyers don’t have an interest in the upkeep of a large garden bed. Instead, clear out any weeds, removing high maintenance trees or plants, edge your sidewalks and driveway, trim the trees and bushes, and fertilize your yard.