Whether you are renovating or building a new construction there are ways increase home value. Knowing how to carefully spend your money can be the best possible return on your investment.
Here are 5 tips I have learned from my experience:
One of the cheapest and easiest ways to add resale value to your home is to improve the landscaping in the front yard. Planting some new flowers, repainting your patio’s trim, and making your lawn look its best are easy ways to make a good first impression on buyers; this can yield more offers and a higher price tag.
2. Safety Upgrades
A simple renovation that consistently earns almost the entire investment back is replacing your front door with a steel-reinforced door. Similarly, replacing an old garage door with a sturdier model will yield an almost 100 percent return. Potential buyers enjoy the safety and security offered by these inexpensive upgrades.
3. Small Items
Small items such as light fixtures, door knobs, and faucets are often overlooked during a home renovation. However, replacing these fixtures with similarly styled products can lend your home a remarkably cohesive look that is more dramatic than the sum of its parts.
4. Kitchen + Bathrooms
Focus most of your attention on your master bathroom if you have one. Potential buyers like to see the master bath as an oasis of sorts, so updating the finishes and fixtures in this room will yield a high return.
If your home only has 1 bathroom, consider adding a second bathroom or powder room if possible. Expensive as this renovation can be, it will likely add considerable value to your home.
Some home remodeling projects are notorious for adding very little to your home’s resale value. For example, home office renovations and installing a swimming pool tend to show very low returns. Swimming pools or other high-maintenance additions can even turn potential buyers away from making offers altogether.