Before you sell your house, experts suggest that you consider some important home upgrades. At this stage, you may be wondering what type of upgrades will help you sell your home faster and get the highest return on investment. If you think it’s not worth it, you should think again as the investment can almost always be recovered at resale. Given below are 10 home upgrades that can pay off at resale.
- Painting
Although painting your house is a time-consuming project, it is not as costly as some of the other upgrades you may want to do. In fact, painting is on the list of most cost effective ways of adding to the value of a property, especially if you know how to do it on your own. Fresh paint and neutral tones may transform your house into something that has a greater curb appeal. Paint will give your house new life.
If you can’t paint your home yourself, you may look for a good professional. Just make sure you choose an experienced one because you don’t want to spend twice as much on the painting project by having to go back and do it again. The job should be done in one go.
- Siding
Some buyers like a house that has a siding. They don’t prefer traditional wood because it requires more maintenance. Quality siding, however, requires less repair work and can last a lot longer than traditional wood because it is resistant to damage from things like termites, rotting, and fire, to name a few.
If you are looking for some good options, you may want to look into aluminum or vinyl siding. It’s a cost effective choice, especially if you are on a budget.
- Composite vs Wooden Decking
It’s important to note that decks are not meant for hanging bird feeders or grilling hot dogs in the summer. While they do serve these purposes, their real purpose is to offer outdoor living space.
In the case of siding, composites are considered a better choice than wood. On the other hand, for decking, it’s the other way around. The cost of wood decking is significantly lower than the cost of composite decking. According to rough estimates, you can save up to 60% if you opt for wooden decking.
- Upgrading the Kitchen
Kitchens sell houses. Yes, that’s true. Unlike other rooms in a house, kitchens are the center of attention as far as buyers are concerned. In fact, a kitchen is the heart and soul of your home.
If your kitchen doesn’t have a great curb appeal, we suggest that you upgrade it. A kitchen remodeling is a big project. That’s why potential homeowners will prefer your home over the others in the neighborhood if you have already upgraded your kitchen. You can recover up to 80% of the remodeling cost after the sale is completed.
When it comes to working on a home upgrade project, it’s not a good idea to save money on fixtures or appliances. Most homebuyers find stainless-steel appliances more valuable and attractive. In the same way, granite countertops may also add to the appeal of your house. Although laminate countertops can be a great choice in a rental unit, know that most buyers won’t find them appealing.
Keeping this in mind if you have a small house to sell; be sure not to spend too much on top-end materials and appliances. As a matter of fact, the majority of home-buyers prefer a house with three bedrooms and two bathrooms. So, if you are going to sell a house with two bedrooms and one bathroom, and you have set aside a budget of $25k to spend on your kitchen, know that you won’t be able to recover your investment.
So, what should you do in this case? If you want to be on the safe side, you can opt for cosmetic updates only.
- Energy Efficient Windows
Every homeowner wants to save on energy bills, and one of the smartest things that they can do is install energy efficient windows. This type of window can help keep your house warm in the winter and cool in the summer, thus saving you a great deal of money on your electricity bills.
According to many reports, you can recover up to 70% of your investment that you made in vinyl windows.
- Bathroom Renovation
Another way to get a great ROI is to do a bathroom upgrade provided you opt for classic features, such as quality subway tiles. Actually, what they do is add to the appeal of a house by making it desirable to both traditional and contemporary buyers.
- Landscaping For Curb Appeal
One thing that is most important when you are selling your house is the curb appeal. The exterior of your house can make a great first impression. Keep in mind that you won’t get a second chance to impress your potential clients.
According to the founder of the Corcoran Group, Barbara Corcoran, buyers make a decision within 8 seconds when buying a house. Therefore, it’s important to make the best possible first impression by improving the curb appeal of the house.
You can plant perennials and trees in your yard for making your house beautiful. They are great to look at and help with shading, filter pollutants under the ground, and stave off erosion. The front door should also be replaced and 90% of the cost can be recovered easily.
- Central Air-Conditioning
You may also consider installing a central air conditioning system. In fact, this type of cooling system is a lot more energy efficient than regular window air conditioners. That’s the reason most home buyers love them.
- Basement Maintenance
Although you don’t have to add a bathroom, flooring, insulation or drywall to your basement, make sure it’s not wet. A damp basement may disappoint a good buyer during an inspection or viewing. So, if your basement is damp or wet, make sure you hire a professional to get it fixed.
- Attic Insulation
For more efficiency, you can spend a bit more money and insulate your attic. It will make your house more appealing to every buyer. The good news is that adding a new layer of insulation is an inexpensive project that you can do yourself as well. This upgrade has over 107% returns on investment.
In short, if you perform these upgrades, chances are that you will be able to sell your house at a much higher price, and the upgrades will pay off.