Home Improvement Projects that Return the Most at Resale – Part 2
This week we will continue our conversation about what improvements to make on your home to produce the best return on investment when you sell your house. As we mentioned last week, kitchen and bathroom remodels are key to increasing value. But there are some definite dos and don’ts to get the best ROI. The most important thing to remember on kitchen and bath remodels is that less really can be more. Even if you are not interested in a bath or kitchen remodel, there are a lot of other low-cost things you can do to make your worth more and sell better as well.
Basic Bath and Kitchen Remodels.
Why is less more when it comes to preparing your house to sell? Because you don’t want to
price yourself out of the market in your particular neighborhood. It is best not to be the top priced or valued
home in the neighborhood, but it is okay to be at the upper end. So just don’t go over the top so to
speak. When improving your home’s kitchen,
think about all-wood cabinets, natural wood or stone floors, stone countertops,
and commercial look appliances for your biggest investments in the kitchen.
When it comes to bathrooms, if you only have one, you will want
to opt for adding a second bathroom, rather than remodeling your existing
bathroom. Opt for a walk in shower over a tub. Today, more clients are fine
with walk in showers over giving up the room that a tub requires. For a basic renovation consider new chrome
fixtures, a standard white toilet (with elongated bowl and comfort height), a
single-level shower handle, a solid surface vanity countertop, and ceramic tile
surround. You want your finishes to be
nice and functional, but they don’t have to be top-of-the-line. For instance, if ease and affordability is a priority, it is ok to get a prefabricated vanity with the counter top included.
Add More Space.
Anything you can do to add more usable living space to your
home will add to its value. If you are
debating between adding another bedroom or a second bath, and you can only do
one, opt for the second bathroom. It
will have two times the resale value of an added bedroom. If you are looking for ways to add bedroom space
or living space, think about remodeling the basement or the attic. But we don’t recommend turning a garage into
a bedroom, you are better taking or finding or creating that space another
way. Also, opening up the floor plan can
give a feeling of adding more space.
Even though it doesn’t technically create more space, it can still have a
hugely positive impact on buyers and make the house feel more modern, and
updated and functional. Don’t forget the
outside, adding a deck is another valuable way to add more usable space to you
home.
Lower Cost Options.
If you don’t have the time, budget, or interest in the
larger projects described above, consider picking and choosing specific things
that will still help. For instance,
rather than replacing cabinets, have yours painted or refinished. If you don’t want an entire bathroom remodel,
just install a new toilet, install a new mirror or mirrored recessed medicine
cabinet. Replace hardware and fixtures
so they match throughout the house … knobs, pulls, towel bars, faucets,
lighting, sconces, these can all give a more high-end or modern look without a
lot of money. If your countertops are
cracked or scratched, think about replacing those even if you go with a nice
laminate.
Finally, as we mentioned repeatedly, maintenance, maintenance,
maintenance. Focus first on fixing things that are broken
or don’t function properly. Deep clean
everything, scrub every surface, re-caulk where needed, get rid of rust and stains,
look for anything that catches your eye in a negative way or is
distracting. Finally, keep your design
neutral and not over the top. If you
follow these tips we are confident that you will reap the rewards when it comes
time to sell your house at the Lake of the Ozarks.
Comments
Post a Comment