Generally, few home owners renovate their homes in order to sell them because they know they won’t recoup the full cost of the renovations in the sales price. However, in some cases minor renovations can really improve the overall impression of a property’s character and quality and, as such, will more than pay for themselves.
Here are a few “market-smart makeovers” you might consider:
- Kitchen – New flooring, cabinets, counter tops, appliances and lighting can be costly, but buyers typically look for updated kitchens, and you’ll recover a large percentage of your expenses on Even a minor facelift – for instance, new paint, floor covering, cabinet doors and hardware – can pay off in a faster sale at a better price.
- Bathrooms – As with the kitchen, renovating bathrooms can pay off in terms of both value and marketability, especially in an older Opt for good lighting, large mirrors, attractive fixtures and materials, plenty of storage and neutral colors.
- Energy-Efficient Improvements – With everyone “going green” these days, energy-saving upgrades and repairs that reduce fuel bills can be a selling For example: sought-after double or triple-pane windows and storm doors that keep indoor temperatures comfortable year round. There are many options, so do some research and talk to a home products professional to find those improvements that best fit your plans and budget.
When considering renovations in anticipation of selling, there are two important rules: don’t over-renovate, and be careful not to make renovations which please you personally, but which might turn off otherwise interested buyers. Both scenarios will cost you. An experienced REALTOR® will be able to counsel you on which renovations are likely to be good investments in terms of your overall plan.