Learn what home improvements you should consider to increase the value of your home.
Home Improvements that Increase the Value of Your Home
The housing market remains competitive for home sellers. National and regional builders spend hundreds of thousands of dollars researching what home buyers want and purposefully market their houses to these same buyers. Location remains a top priority, but home sellers have a better likelihood of achieving the sales price they seek by investing a bit of time and money into home improvements and basic upgrades.
Improve the first room home buyers visit
The Great Recession led to many American families rediscovering their joy of cooking and spending time together at home. Many families continue to opt for home cooked meals over dining out as their economic situation improves. For parties and social get-togethers, the kitchen is usually the gathering spot and often the topic of conversation. While the kitchen can be the most expensive room to remodel, industry experts agree that a few hundred dollars invested in new faucets and lighting fixtures can revitalize the look of an entire kitchen. Home sellers do not have to take on the high cost of replacing counter tops to give their cabinets a fresh look. New paint or a thorough cleaning can help brighten the entire room. Sellers want buyers to think about the time they will enjoy in the kitchen, not the high cost of needed repairs and upgrades.
Having to purchase all new appliances on top of purchasing a new home is daunting for any potential buyer. This is one of the main attractions of new constructions. Home buyers know they will have a few worry-free years before any costly repairs or appliance replacements. Sellers may want to consider offering an allowance for new appliances to be part of an accepted contract. This helps the seller ensure they get the price they want and provides some peace of mind for buyers. Sellers should consult with a Coldwell Banker® brand agent about federal and state laws for these agreements. To avoid any confusion, agents for both buyers and sellers must carefully review wording and discuss it with their clients.
Improve the appearance of the bathrooms
Bathrooms have changed over the years. Some older homes have small bathrooms that lack the appeal of the spacious lavatories found in modern houses. Rather than invest in replacing existing tiles, sellers can brighten the look of bathrooms by re-grouting and replacing the few tiles that may be chipped or missing. It is important that the room be clean and as new-looking as possible without spending a considerable amount of money.
Add a fresh coat of paint
The best investment any seller can make is in interior and exterior paint. Designers and industry experts claim the payback is typically up to 300 percent. For color ideas and the latest trends, sellers should consult with a Coldwell Banker® brand agent prior to choosing colors. Advice from a knowledgeable third-party is preferred over thoughts from friends and family about what they think looks good.
Improve the entryway and front door
Any front door can look new again with a fresh coat of paint. Be sure the entire area is clear of spider webs and leaves. A worn out door knob and lock make the house appear old and run down. It is worth investing in new hardware for the front door to make a good first impression.
Rather than tackling all of these projects at once, sellers should formulate a written plan and accomplish them over a period of months. Strive to have all upgrades complete before putting the house on the market.