Two of the most common questions a seller has when they put their house on the market is which home improvements or renovations will actually add resale value and which will end up being a waste of time and money. The answers, of course, may vary from home to home, but there are a few projects that most in the real estate industry would agree a seller should invest in if it’s needed or stay away from if the added value is uncertain. Simple improvements and repairs can go a long way with potential buyers when they are doing a comparison of many houses for sale.
Upgrades That Add the Most Value
Kitchens and bathrooms are known to be the focal point for most buyers when they’re doing their initial walk-throughs of houses for sale, so these are two rooms that should almost always be updated if they demand it. It’s important for kitchens to be clean and have a generally modernized appearance. This can be done by upgrading to brand name, energy-efficient and matching appliances, installing new sink and lighting fixtures and giving the cabinets a facelift. The cleanliness of bathrooms are just as significant as the kitchen, and should also have newer appliances, flooring and paint. If it’s in the budget, adding on another full or half bathroom can lead to an even bigger return.
Outdoor renovations are also usually a good idea since the exterior of your home will be making the first impression on any potential buyers. Your home’s curb appeal can have an extra positive impact on viewers if the landscaping, siding, front door, windows and garage door are all spruced up. In addition, buyers will expect the roof to be in good condition, and if it’s not, it could mean a big chunk of profit that you lose out on in the final sale price.
Upgrades That Can Decrease the Value
The goal for home improvements or renovations is not to put a whole lot more money into them then you’re going to see returned in the sale. It can be confusing for sellers to distinguish what adds or detracts value if they begin to think of their personal preferences and not the buyer. Examples of this can include a swimming pool, garage conversion and luxury upgrades (marble flooring, sunrooms, movie theater, etc.). While some of these features may be at the top of your dream home wish list, they won’t suit everyone that is looking for a new house and can end up being a deterrent.
More Factors That May Influence Value
There are numerous factors that can influence the value of houses for sale, and there is no guarantee on a return no matter which improvements or renovations you invest in. Before you start devoting time and money to any projects, consider a few more circumstances, such as the appearance of other houses in your neighborhood, the age of your home, if the improvements will keep your house in the same price range as others in the same area and if the upgrades will seem out of place with the rest of the home.
To learn more about the general rule of thumb when it comes to making valuable improvements on your house for sale, speak with an experienced real estate agent in Orlando.
About the Author
Tiffany Olson resides in beautiful Northern California and blogs full-time on a variety of topics including home and real estate. When she’s not writing she loves to take weekend road trips, cook, and read.
