As homeowners add or upgrade the home, each dollar spent requires a thorough evaluation. Before a splurge, decide whether it's smart to include these investments long-term. During the for-sale period, these pleasures may backfire when buyers view the home. It may sell eventually, but gaining a profit is rare. To avoid a loss, invest only in improvements that gain profits every time.
The kitchen's appearance will determine if buyers visit the home, make a bid, and close the deal. Because it's a focal point, a kitchen remodel will turn a profit. The great news is a minor upgrade provides a better ROI than a major one. Budget-conscious homeowners must focus on these minor upgrades to make a huge difference.
• Remove older appliance models with new ones
• Switch out countertops
• Replace cabinet and drawer hardware (handles and knobs) with new ones
• Refinish/reface cabinet doors OR replace cabinet doors with new ones
• Paint the kitchen
• Add a backsplash
• Upgrade old pipes
If you don’t have the know-how or tools necessary to get any of these jobs done yourself, don’t hesitate to call professionals like The Clean Plumbers to get some help. A job well done is well worth the money.
Most homes contain carpet. Carpets are the most inexpensive flooring option, so obviously more homes contain partial or full carpet flooring. Unfortunately, carpets don't last as long as other flooring types. The solution is to invest in hardwood flooring. While expensive, it's durable, long lasting, and beautiful. Mentioning hardwood floors as a selling point brings buyers to your yard. The good news is hardwoods don't have to invade the entire flooring landscape. Just add it in a few rooms and watch the home value rise.
Before turning your attic into storage, here's an idea: turning the space into a bedroom. If homeowners must decide between turning the basement or attic into a bedroom, the attic wins in ROI (return on investment). It adds additional space without a home addition or a second story addition. The bedroom count increases by one, and homeowners and realtors can up the asking price in return. Lastly, a bedroom conversion is inexpensive.
Homeowners and buyers who spend time outdoors will appreciate a deck. A first story or second story deck provides an inviting outdoor space for barbecues, family gatherings, social functions, and single-person enjoyment. The inexpensive home addition provides great returns on the investment. The preferred material for the best ROI is wood.
Each investment added to the home increases the home's value. Only when homeowners consider the long-term ramifications of the upgrade or addition will the investment pay dividends.