Updating your home can be fun and profitable! An experienced realtor will come to your home to make suggestions as to what would be a good investment in terms of upgrades and remodeling projects, and what would work for you. If you keep the following suggestions in mind, you should have a good grounding in what is and what isn’t a good update to make.
#1 – Paint
The best investment you can make in your home is to paint it current, neutral colors. If you are planning to stay in your home for a long time, you can paint it any color you wish! However, plan on repainting it before putting it on the market. Use quality paint and use neutral colors so that your home appeals to the widest audience possible. At about 75¢/sq. ft., painting is one of the least expensive, but greatest impact improvements you can make.
#2 – Knock Down Walls
When you compare older homes to newer homes, the biggest difference you will find is that newer homes feel more open and have a better “flow” to them. Old homes feel choppy, while new homes have less separation between rooms. Before knocking down walls, however, always check with a professional to determine which walls are structurally necessary. With expert design, you will be amazed at the difference a change in the location of a wall(s) will make and how much bigger your current home will feel!
#3 – Install Wood Floors
If it is time to replace your floors, take a serious look at wood as it appeals to the most buyers. If your home will sell for over $300,000, go with real wood. If it is a less expensive home, one of the many fine laminate floors might be more cost effective for you. Whatever type of flooring you go with, installing quality materials will help your home sell faster and for a greater price.
#4 – Remodel Your Kitchen or Master Bathroom
The two most important rooms in your home of greatest interest to potential buyers are the kitchen and master bathrooms. Therefore, if you are on a limited budget, focus on these two rooms first. Replace the cabinets, sink, and appliances to start. Depending on your budget, you can add tile and/or upgrade your bathtub. Any money you spend in these rooms will probably have a return of 80-90% of the cost, and, if done properly, can even increase the value of your home. If your home was built before the 1970’s, you could add a master bath as your home probably doesn’t have one. Select a quality, experienced contractor to work with as a poor design or poor workmanship will decrease the value of your home, not increase it.
#5 – Gut The Attic
Older homes typically have 8-foot ceilings and can feel very confining. Consult with a professional about the possibility of creating a new vaulted ceiling in your home. It is often inexpensive to do, and you will be amazed by how much bigger and lighter your home will feel. This is a huge change that has a good return on investment.
In some locations, selling a home can be very challenging. Your goal is to make your home the very best that it can be, price it accordingly, put it on the market one time, and sell it. Following some or all of the above steps should make this happen for you in a relatively short period of time.