Remember the time when you burnt the midnight oil to buy your roof? If you do, you wouldn’t sell it cheaper than what you paid for it. The best thing you can do to sell your home fast is to ensure that you get the best value for your dollar is home renovation.
Improving your living space is an exciting phase but it may be tricky at the same time. You should know what improvements would increase the resale value of yourhouse. Can you afford renovations like a new deck or an updated kitchen? Budget is a major concern with the people looking to refinance their home, so budgeting and planning the improvements is key.
Why consider home improvements?
Refurbishing house adds to your enjoyment but mainly it increases the resale value. An updated apartment certainly attracts buyers and you get the current market value. Furthermore, higher market value means you get more equity and also enables you to cancel mortgage insurance payments.
A remodeled bath, updated kitchen, new siding would certainly increase ROI and let you find another lavish living space. Consider these renovations to get the real value of your residence.
1. Updating Bathroom
Bathrooms are one of many places home appraisers look for, so updating yours will add value to the house. If your house has only one bathroom, try adding another. Like other renovations, adding/updating bathroom may cost you more than you planned depending upon the type of additions you are making.
2. Improving Kitchen
Improving the kitchen is key in getting the best resale value of your house. Kitchen is considered the heart of a home and when you plan to renovate your cooking place, it’s important to consider the cost of your items vs. the value. Installing a granite may not appeal the buyer as much as an updated appliance. So take a closer look at the prices when you renovate the kitchen.However, don’t hesitate to spend big in the kitchen as an updated kitchen will pay off.
3. Improving Outdoor Living
The outdoor living place is critically important to a lot of people. Residents enjoy spending time with their family, friends or even themselves and having a nice area to sit back, entertain or relax is key here. Outdoor living is important and if you have a pergola, your home could potentially sell for 25% more than a home that doesn’t have the hugely coveted pergola.
Another addition that you could make to improve the outdoor living experience is a deck. A house with an appealing deck and fancy backyard will fascinate the buyers.
4. Improving Floors
When we look down and we think about flooring, there are so many different types of materials out there these days.But if you are looking to modernize floor to increase resale value, go with hardwoods. A true hardwood floor seems to only get better with time just as a fine wine. So much so the homes that have hardwood forests could potentially sell for 22% more than homes that do not have one, experts say.
5. Paint your House
The best thing you can do to prepare your house to sell on a limited budget is to paint it. Get a fresh coat of neutral paint. A house with decent-colored paint will help complement any furniture in your house and make rooms look larger.
6. Improve Lighting
Old outdated light fixtures detract from the real value of the house. New fixtures brighten up your house and make your home look bigger and it’s one of the best investments you can do before you sell your home.
Improve lighting in the house where possible but don’t get out and buy a lavish chandelier. When it comes to light fixtures, you want people to notice how nice the fixture is and how bright your living space is. You want buyers to notice how bright the rooms are and the icing on the cake is that lightening fixture will only cost a hundred bucks or even cheaper.
7. Basement can help
Basement waterproofing is one of the vital home improvements that will increase home resale value. Open interior basement structures cause moisture and radon problems in numerous basements across the country. Moisture is a frequent problem for poured concrete basements, rock basements and block basements. Sealing out water from your home with a basement waterproofing system will let you utilize each square inch of prospective living space and maintain your house structurally sound for years to come.
If your house doesn’t have enough rooms, consider finishing your basement. You can easily turn basement for household use like a bar, a hangout place, or even a kid’s place. Adding a bathroom to your basement will increase the value of your house even more. But don’t keep the underground place dark, make it as open and airy as possible.
8. Basic Updates
Other than the improvements mentioned above, you can consider replacing wall switches, faucets, knobs and door handle. These are the minor fixes which buyers often look as they want their next living space to be solid, safe and up-to-date.
In a nutshell
There are many other things that you can do to improve the resale value of your house but these are the basic ones. However, keep one eye on your pocket before making any renovations and if your budget is limited avoid improvements like staging and landscaping.
Finally,yet importantly, you can visit real estate company if you want to sell your house quickly or can take their help for any guidance on property listing.
Author Bio: Jennifer is an editor and author at nyrentownsell– a leading real estate company in New York.