While remodelling your entire house might add value, there aren’t many properties out there that would genuinely need that much investment. That being said, there are still plenty of other home improvements which can end up adding some real value to your house, ranging from minor do-it-yourself upgrades, to hiring expert contractors for a major room renovation.
Simply by carrying out the right home renovations at the right price, you can add a considerable amount of resale value to your house. So, before you rush out and start throwing money at any old home reno project, it’s a really good idea to research what most prospective buyers are currently looking for so you can focus on that in your home. It would also be wise to think about which of these projects could potentially be covered by your home warranty plan. To help you make your decision on where to start, here are the top four home improvements to make before selling your property.
1. Kitchen Renovation
There are plenty of prospective buyers out there who are searching for a home with a modern and spacious kitchen. But while updates to kitchens often pay off, you shouldn’t need to go overboard. Remember that spending $100K updating the kitchen in a house that’s worth around $500K probably isn’t the smartest idea. So, if your budget doesn’t allow for a complete remodel, there’s still plenty of other upgrades you can do to give your kitchen a facelift.
Some of the most effective kitchen improvements for increasing the revalue of your house include replacing the old light fixtures with more energy-efficient options and installing modernised cabinetry with under-cabinet lighting. You can also upgrade appliances with new models which use less energy and are better for our environment. If you’re looking for smaller updates that can still improve the overall feel of your kitchen, the cheapest options are installation of new faucets, cabinet doors, drawers, hinges, handles, and other hardware.
2. New Lighting
Lighting is commonly overlooked when people are renovating before selling, which is surprising because bright rooms makes them seem larger and feel happier. A well-lit home also shows prospective buyers that you have nothing to hide, so they’ll feel more trusting and at ease during the inspection. It turns out that upgrading light fixtures and bulbs is actually one of the most cost effective ways of increasing resale values. And upgrading the lighting fixtures to be more energy efficient will help save you money today while also helping market your home to the more eco-conscious homeowners of tomorrow.
Lighting can really be used to inject some cheerful style or moody vibes into your house. Start by replacing all light fixtures that are old and damaged, especially if any are the original fixtures which were installed by the builder. Recessed lighting and dimmer switches can both be installed of an upmarket feel. If money’s tight, focus on installing new fixtures in the common living areas first, or simply swap out all the light bulbs for more energy efficient ones. Just remember to take care with the wattage, and never mix colour temperatures in the same room.
3. Bathroom Renovation
When it comes to home improvements before resales, bathrooms have now become a more popular choice to renovate than the kitchen. Bathroom remodels are now considered to be the better investment, as they will more often see returns of over 100 percent of cost. That’s good news for anyone considering upgrading their bathroom, whether just installing new low-flow fixtures or going for a complete remodel. You may even want to add another bathroom if there’s any unused space in your home.
During a bathroom remodel, you should look to brighten the room with some fresh paint or add some style with a new mirrored vanity. Even re-grouting the tiles is a small size project which can easily make your bathroom sparkle and shine once more. Add a spa-style shower head for a touch of luxury, but make sure it’s water wise. You can also very easily transform the feel of your bathroom by replacing the lighting with newer and more customized fixtures.
4. Upgrade Flooring
Because it’s literally everywhere, flooring is easily one of the most visible and used aspects of any house. If the floors in your home have certainly seen much better days, it will probably be worth spending a few thousand dollars on upgrading your flooring. Especially if you have carpet because most modern homebuyers do not like it at all. Installing new tiles or hardwood floor for example would easily pay for itself, evidenced by an immediate increase in valuation of your property
Refinishing your existing hardwood floors would be less expensive than replacing them, which is also ideal because old style flooring is in higher demand than newer materials. Not only do you have the options of sanding, staining, and buffing hardwood flooring, but you can also overlay or replace them completely. There’s a number of decent alternatives to installation of new hardwood flooring, such as engineered wood or traditional laminate that will cost much less. Otherwise if you can do the installation yourself, the money you saved on labour can be spent on buying much more beautiful flooring.
If you’re thinking about selling your house sometime soon, getting some home improvements done before listing is quite often a really good idea. But before you start knocking down walls and tearing out plumbing, make sure you’re investing money in upgrading areas where you’ll have the best chance of seeing an increased return. Because ultimately, completing the right upgrades on your property could mean the difference between sitting on the market with all offers considered and a fast sale at above market value.