Top 5 Home Renovation Tips
Top 5 Home Renovation Tips
Increase The Value of Your Home
Imagine this scenario: You're contemplating selling your home within the next year or two. While your home is nice, you believe that some improvements are necessary before putting it on the market. Your primary objective is to maximize the selling price. So, what steps should you take? In this article, we will discuss the top five value-boosting upgrades for your home.
Before we delve into the list, there's a crucial point that many sellers overlook, often costing them thousands. Many of the upgrades homeowners undertake before selling fall into one of two categories. Either the upgrades add little to no value, or they end up costing more than the value they bring. Our aim here is to provide you with the best "bang for your buck" in terms of upgrades. We'll also provide an estimate of the cost and the potential value increase for each.
A quick note: If you'd like a professional opinion on your home's value, click here to provide your information, and we'll prepare a market analysis for you.
Here are the top five "bang for your buck" home upgrades:
1. Paint, Inside and Out
One of the most crucial but often overlooked upgrades is painting. If your home looks worn out and needs a fresh coat of paint, it can turn potential buyers away.
Neutral colors are key. Stick to basics unless a professional advises otherwise. White is often seen as clean and versatile, making it a safe choice.
Bonus tip: Painting baseboards and trim can breathe new life into a room, and it's a cost-effective way to address wear and tear. Costs vary based on the home's size.
2. Curb Appeal
First impressions matter. Curb appeal is what your potential buyers see, smell, touch, and feel before entering your home.
Simple steps can enhance curb appeal: declutter, power wash siding and sidewalks, and add some life and color with flowers or greenery.
Upgrading flooring can make a significant difference for homebuyers. Most buyers prefer move-in-ready homes and are reluctant to tackle flooring projects themselves.
Costs and choices depend on your home's price range:
Under $300k: Newer flooring, even carpet, can be a big selling point.
$300k - $1m: Consider existing hardwood floors in excellent condition or Luxury Plank Vinyl (LPV) flooring. LPV replicates the appearance of natural materials like hardwood, stone, or tile. There are also unlimited different styles to choose from. Please be careful though when you change the flooring. Do so from someone licensed who has years of experience of installing flooring in a quality way.
$1m+: Seek professional advice for high-end homes. I definitely recommend speaking with one of our in-house designers before making any changes to your home. We can bring in one of our professionals to help make that decision with you.
Reach out and ask for an estimate if you're interested.
4. Fixtures and Lighting
Overlooked yet impactful upgrades include fixtures and lighting. Consistency in the look and feel throughout your home is essential.
High-end fixtures may be necessary for luxury homes, but for most homes, mid-range options can improve perceived value without breaking the bank.
Bathroom upgrades often lead to overspending. Opt for affordable options, such as refinishing or replacing specific elements like countertops, lighting, and plumbing fixtures, for a similar value boost.
If budget allows, focus on upgrading the primary suite and kitchen, as these areas have the most significant impact on buyers. However, the first five upgrades can still add substantial value.
For a professional's opinion, first schedule a complimentary walk-through with our local experts. You can start by providing your address and information on our website. Within 48 hours, we'll deliver a comprehensive market analysis of your home's current and potential value with recommended upgrades.
If you're considering selling in the next year or two, it's wise to act sooner rather than later. You can also track your home's value here, and we'll provide monthly updates on any changes.