When you are ready to put your home on the market, one of the most important things you can do is make some key renovations. These renovations will increase your property value and make it more attractive to potential buyers.
Depending on your budget and the state of your home, there are a few major renovations that you should consider.
1. Kitchen
The kitchen is one of the most important rooms in the house. Home buyers will focus on this area. If your kitchen is outdated or needs some work, consider doing a complete renovation. This will include new countertops, cabinets, appliances, and flooring. A kitchen renovation can be costly but will increase your property value.
You want to ensure that your kitchen is modern and up-to-date so potential buyers can see themselves cooking and entertaining in the space. Other minor changes you can make in the kitchen include painting the walls, updating the light fixtures, and adding a backsplash.
A successful kitchen renovation can increase your property value by 10-15%. You can also expect to recoup about 60-80% of your costs when you sell the home. Avoid going over the top with your kitchen renovation, as this can turn potential buyers away.
2. Bathrooms
Bathrooms are another critical area that potential buyers will pay close attention to. Because of this, you want to ensure that your bathrooms are updated and in good condition. Many people consider renovating all the bathrooms in their homes, but this is not always necessary.
If you only have one bathroom, you may want to do a complete renovation. However, if you have multiple bathrooms, you can get away with renovating one or two of them. Depending on the state of your bathrooms, you may need to do some minor updates or a complete gut job. Some bathroom renovations can be as simple as painting the walls and updating the fixtures. Others may require more work, such as replacing the tub, shower, toilet, and sink.
You can expect to recoup about 50-70% of your costs when you sell the home. This is because potential buyers will be willing to pay more for a home with updated bathrooms. Like the kitchen, you want to avoid going over the top with your bathroom renovations.
3. Landscaping
Updating your landscaping is a great way to increase curb appeal and property value. Even though it may not seem like much, potential buyers will notice a well-landscaped yard. If your yard requires some work, consider hiring a professional landscape contractor. They will be able to help you choose the right plants and design a plan that fits your budget.
You want to ensure that your landscaping is low maintenance, so potential buyers don’t have to worry about putting in a lot of work. Some easy ways to do this include adding mulch, installing drought-tolerant plants, and using pavers for walkways.
A successful landscaping project can increase your property value by 5-10%. You can also expect to recoup about 100% of your costs when you sell the home. Many people are willing to pay more for a home with a beautiful yard that they don’t have to put a lot of work into.
4. Flooring
Throughout your home, you want to ensure that your flooring is in good condition and up-to-date. Potential buyers will notice if your floors are scratched, stained, or need repair. If your floors are in bad shape, you may want to consider replacing them entirely.
A floor replacement project may cost a bit of money, but it will be worth it in the long run. You can expect to recoup about 80-90% of your costs when you sell the home.
Focus on choosing flooring that is durable and easy to maintain. Hardwood floors are always a good choice as they add a touch of elegance to any home. If you have pets or children, you may want to choose a more durable option like laminate or vinyl. Avoid carpet if possible as it can be challenging to keep clean.
5. Windows
Finally, your windows are another critical element that potential buyers will pay attention to. Old, drafty windows can make a home feel dated and uninviting. If your windows require replacement, it’s definitely worth the investment.
New windows will not only make your home more energy-efficient but will also increase its curb appeal. You can expect to recoup about 70-80% of your costs when you sell the home. But, remember that the type of windows you choose will affect the price.
If you’re planning on selling your home soon, it’s worth renovating. These five projects are a great place to start as they will increase your property value and make your home more appealing to potential buyers. Just stay within your budget and avoid overdoing it with the renovations. A little goes a long way to increase your property value.
