You have finally decided to put your home out in the market. Whether you are selling your property now or later, you must be looking to fetch a high profit from the sale. The only way to achieve that is by undertaking renovation and remodeling projects that increase your home’s value. The advancement in technology has led to a drastic change in traditional home renovations. Today, there are hundreds, if not thousands, of projects you can undertake to make your property more valuable. This article will focus on the best renovations to sell your home to give you a clear glimpse of what you are supposed to do.
Benefits of Home Renovations
There are so many benefits associated with conducting remodeling projects on your home. The majority of homeowners neglect such benefits because all they want to see is a thicker check for the premises they put on sale. However, the home renovation goes beyond just improved property value. It has a lot more benefits, some of which are discussed below;
Increased Property Value
Needless to say, a home that is renovated is much more expensive than one that is not renovated. For instance, a home that has had roof repairs cannot be compared at a price to one with a shabby roof. That is because prospective customers want to get the best value for their money, and the first noticeable thing they look at is the roof’s condition.
Remodeling a home is a time- and money-consuming process, but you will realize its impact on the property’s value in the long run. Records show that homeowners who had their homes renovated got a higher market price for their property in 2019. Simple remodeling projects, such as applying a fresh coat of paint, can have surprising effects on your property’s asking price.
As a homeowner, you must ensure that your home does not look worn out and out-of-date because that might give you a hard time when it comes to getting a client who is ready to pay the full asking price. Most buyers will keep an eye on additional features that they will not have to replace in the near future. Your home will have more value if the client finds that the swimming pool is well-take care of or you have had a new HVAC system installed recently.
Enhanced Home Functionality and Comfort
Are you looking to make your home more enjoyable and a place that achieves its full potential? Then, it’s time to think about renovating and remodeling your home. The functionality of your home depends on your preferences and tastes. Every human being is created differently. Therefore, you have to be vigilant because, with the current advancements in technology, there are many options to choose from.
From an updated bathroom to a well-finished basement to creating a theater, you can never go short on the available choices. It may be overwhelming for you to decide, but working with a professional can help you narrow down your choices and guarantee the best results without hurting you financially. Home renovations can be done however you prefer as long as they are possible structurally. For instance, you could hire a residential siding contractor to make your home live up to its full potential. A siding contractor can also help make your home more appealing in appearance, and enjoyable for those who live there.
Lower Energy Costs
It is important to note that one of the areas contributing to an increase in your utility bills is the energy consumed in your home. Carrying out renovations such as residential roof installation can help lower these bills significantly. Some homeowners are not even aware of the effect of leaving light bulbs on in a room that is not in use.
Wall insulation is another home remodeling project that can help minimize the energy consumed in your house. If the doors and windows are not in good condition, they could lead to heat loss, forcing you to use more electricity to keep your house warm during the cold season. Replacing such doors and windows is a step towards making your home more energy-efficient. It is also advisable to consider purchasing energy-efficient home appliances, which do not require a high amount of energy to function.
Increased Living Space
Renovations are a great way to increase your space in case you feel that your house is too small. For instance, you could expand your basement and turn it into an extra family room or rent it out and get additional income. Getting professional renovation services can help you make the most of your living space. This is because the experts in this field are well-versed with what should be done and how the project should be carried out.
So, what are the renovations that increase your home’s value significantly?
With all the choices available for you, it might be challenging to pick the best renovations to sell your home. You need to go for the projects that can make your home stand out in the market and attract the appropriate customers. However, it is straightforward for renovation experts to pinpoint the exact home upgrades that guarantee a higher price in the real estate market.
You must be on the lookout for projects that may add little or no value to your home but cost you a substantial amount. Other renovations, known as vanity projects, are taken on the homeowner’s whims, and most of the time, they even lower the property’s value. Therefore, the following are some of the renovation projects you can undertake to ensure you fetch the maximum profit from its sale.
Adding Outdoor Structures
A fire pit, swimming pool, and a gazebo are some of the outdoor structures that increase the enjoyment in your home. However, how much value do they add to the general price of the property? In some situations, such structures increase the home’s value immensely. In other cases, though, the construction and upkeep costs may be irrecoverable when you sell the home. A fence does more than offer security to your family. It is a structure that can impact the value of your home positively.
The same case applies when you include a fire pit or a deck in your outdoor space. A swimming pool is among the most common outdoor structures that make your home look better and feel enjoyable. Nevertheless, you might have to reconsider building a swimming pool with an aim to raise your home’s value. When you factor in the construction and maintenance costs associated with this backyard oasis, you will realize that, most likely, there will be little monetary returns on your investment.
As you work on your outdoor, you could also consider renovating your garage door. It is among the first things that potential buyers will look at. Adding some outdoor structures is among the best renovations to sell your home. You can also think about asphalt paving to make your driveway more appealing.
Working on the Roof
Your home’s roof is not hidden. Potential buyers will always consider the roof’s condition. Are there any missing or buckling shingles? Does the roof have any leakages? Is it well-maintained and clean? These are some of the questions you need to answer. If any of the answers is a NO, then you need to procure roof repair services.
You may also consider installing solar panels to increase the potential customer’s desire to buy your property. A metal roof system works well with the solar panels because the need to replace such a roof will not arise before the end of the panels’ lifespan. The best way to approach this issue is by ensuring your contractor uses the right materials for the roof, picks a roofing system with a valid warranty, and installs it in the right manner. Having a well-done roof is one of the best renovations to sell your home.
The Kitchen
This is among the most important parts of your home. You need to keep it in good condition by repairing any broken appliances, kitchen plumbing repair, and other repairs. A well-remodeled kitchen is sure to fetch you some good returns on your investment, especially if you renovate an old and outdated kitchen. Think of making the kitchen more accessible and functional by considering how the elderly or disabled people can use it without much hassle.
Consider having lower countertops, light switches, and cabinets to give people of all height, age, and physical conditions a smooth time using the kitchen. If you want to achieve optimum returns on your kitchen remodeling investment, then you cannot leave behind the kitchen appliances. If the dishwasher is not functioning properly, then you should source dishwasher repair services.
Research shows that you can recoup about 80% of the cost of upgrading the kitchen appliances and conducting an average kitchen remodel. A kitchen remodel and a plumbing repair is an almost sure bet when it comes to the best renovations to sell your home.
The Bathroom
When looking for the best renovations to sell your home, the bathroom should be among the first items on your checklist. Bathroom renovations are one of the most popular home upgrading projects and should be taken with a lot of seriousness if you want to realize a bang for your buck. Renovating old bathroom plumbing and lighting fixtures, replacing an outdated vanity, or simply improving the flooring by adding some tiles are some projects that can fetch you a high profit in the real estate market. You must also consider going for energy-efficient options if you want to increase your property’s value.
Potential buyers will also consider the ease of cleaning the bathroom. You can achieve that by installing sleek and easy-to-clean surfaces. According to the National Association of the Remodeling Industry, homeowners who have had their bathrooms redone and upgraded get about 57% return on investment.
Consider Smart Home Technology
Gone are the days when people did not know about having a smart home. Technology has advanced significantly over the last two decades. You should consider embracing it, too, if you want to realize higher returns after selling your home. Potential buyers will be looking for smart devices in your property, such as security cameras, water leakage detectors, and smart locks, among others.
Such devices come in handy when you consider the security and energy management in your home. That is why using modern technology in your home is one of the best renovations to sell your home. Much of this smart home technology is not expensive, but it can positively impact your home’s asking and selling price.
Redo the Windows
This is the last item for the best renovations to sell your home. Windows, too, are among the most vital and conspicuous parts of your home. No client will be thrilled by worn-out, old, and broken windows. Besides conducting the required repairs on the windows, you should also consider replacing the old ones with energy-efficient windows.
This will save you a lot when it comes to the energy bills that arise from heating and cooling your home. With energy-efficient windows, you will also realize a drop in the need for ac repair services. In most cases, the installation cost for energy-efficient windows is offset by the amount you save in the long run on your heating and cooling.
You can get a good profit or a disgusting loss when selling your home, depending on its condition. Indeed, you want a return on your investment. The best way to realize this ROI is by remodeling and upgrading your home. This article has delved into some of the best renovations to sell your home. As you conduct these renovation projects, you must be cautious because some do not add any value to your property.
Some of the most important areas to work on in your renovations include the kitchen, bathroom, outdoor space, roof, and windows. These are the parts that many homebuyers will consider. If these areas are not in good condition, potential clients may be turned off. Utilize this information and research more on the best renovations to sell your home.