Most Cost Effective Home Renovations To Increase Your Home's Value From Kari Clark's 'In Our Space' Real Estate Column:
Everyone asks if it's worth the time and money to remodel or stage their home. Sorry everyone, the answer is likely yes, whether you are selling at this moment or not! Staging will sell your home faster and for less of the amount of a price reduction. When renovating to stay you should note that you may not recover and gain the exact amount of your investment so stick to your budget and always have the thought in the back of your head about resale. You may love the built-in hot tub in the basement but the next family may not enjoy it or feel it adds the $10,000 you spent on it and want on top of the list price. Make sense?
1. Basic Home Maintenance & Repair: Do this first! Fix all those little issues you have just lived with over time. They all add up in potential buyer’s minds and could end up costing you thousands off your asking price. A fresh coat of paint and a deep clean goes a long way. If needed, replace or upgrade the energy efficient items in your house like doors, broken windows, heating system or electrical panel. Buyers will appreciate these types of upgrades and so will their independent home inspector who will be looking objectively at your home's condition if you decide to sell.
2. Curb Appeal: First impressions are everything. They are typically lower cost and create emotional appeal and a high return on investment. The positive impact of a freshly edged, lush green lawn is huge. A pop of colourful flowers and gardens around trees draws attention from the road. A bright, inviting front entrance, house numbers and, shiny Q-tip clean windows and blinds are a must.
3. Neighbourhood Comparison Projects: Remodelling to bring your home up to the level of others in the area with features buyers expect your home to have. If your neighbourhood has mostly 3 bedroom homes with 3 bathrooms and you have a 3 bedroom with 2 bathrooms, finding a way to add another bathroom and shower will more than pay for itself.
4. Kitchen & Bathroom Updates: Last but certainly not least. Upgrades in your kitchen and bathrooms like faucets, backsplashes, cabinet hardware, new toilets, and counters can make a million dollar difference on a dime.
For more great tips & tricks in this real estate world contact me anytime! www.KariClarkHomes.com
Call/Text Direct: 519.216.1791