We’ve all said it. “At least I’m improving my home! That’s an investment!” But the sad truth is that most of the money that homeowners spend on renovations to their homes are never fully recouped in the sale price. Most. Today I’ll share the professional’s secrets with you and tell you what updates are actually investments that are as good as money in the bank!
Anything that is extremely worn, not maintained, broken, cracked or leaking – these are your first step in a strategic renovation. Nothing scares prospective buyers more than the idea of walking into a problem from the get-go. Don’t even bother doing any upgrades before you get everything you already have in working order – people tend to not trust renovations in one area when they find things broken in other areas. Get ahold of a homebuyer checklist and walk your property with it, fixing all of the critical items.
Very few improvements make as much of an impact as wood flooring. It screams modern and quality. And with the great options available now, there are lots of less expensive options that will help you get most of your investment back in the sale price.
Kitchens and Bathrooms, Always and Forever
“Kitchens and bathrooms sell homes.” Just watch prospective buyers touring the house, and compare the amount of time they spend in the kitchen and bathrooms to the time the spend in the rest of the house altogether. There’s so much to do and see there, and it’s all shiny and impressive. Make it modern, clean, and new and watch your selling price – and the number of offers – jump!
Give Me Room to Move!
Most additions or increases to livable square footage (like finishing a basement or attic) pay off. In fact, in some markets these upgrades can be a money-maker, netting you more than the dollars invested. Important note here though – make it everyone’s idea of a house, not just yours. If you create something that’s hard for other families to actually use, you will not just lose your investment but can even reduce the value of your home! Also, the additional square footage added by converting a garage does not always pay off. That is very dependent on the market and even the neighborhood. If you’re the only one in the neighborhood without a garage, you’ll find it’s really hard to sell your house later, no matter how much square footage you’ve added.
The Less Exciting Upgrades
Things like roofing, doors, windows and energy upgrades may not be glamorous, but deserve mention here. You can usually recover most of your expense, and you’ll also get a lot of savings on your utility bills in the meantime.
Skip the Troubles of Remodeling by Selling With Us!
Even if you pick the right upgrades and can recoup some of your remodeling costs, the time and energy needed to manage these upgrades can be significant. If you’re looking to make the sale of your home easier on yourself, contact us to see about an as-is, cash offer on your home! There’s no easier, faster way to sell your house.