5 Ways To Improve Or Renovate Your Home For Maximum Resale Value
Are you planning on selling your home in the near future? To get the most value from your sale, you must make your home stand out in the crowd.
Often there are several homes for sale in the same area with similar attributes and price, making it crucial to ensure your home makes a great first impression on buyers. Investing in a few cost-effective renovations or improvements can make a big difference in how quickly your home sells and the price that buyers are willing to pay. Here are 5 ways to improve your home before you put it on the market.
Any realtor will tell you that curb appeal is extremely important in selling a home. The initial reaction that a buyer has to a home when they pull up to begin their tour can make or break the sale before they even see the rest of the home. Even though the lawn and yard have nothing to do with the home, a well-manicured yard can change the perspective, making a house look like a home.
Just planting some new shrubs or adding flowers can make your home look welcoming. Beautiful landscaping also makes the home looked cared for, adding value. This simple, yet effective, change is one of the least expensive improvements you can make that can earn a large return when it comes time to sell.
Another small, yet important, improvement you can make to your home before selling is replacing an older front entrance door. Once again, this can help enhance curb appeal. Choosing a solid, secure steel door that is beautiful and functional can make an excellent first impression as buyers come to look at your home. According to the Remodeling Cost vs. Value Report for 2016, this is one of the highest returns you can get on home improvement investments.
It is not just the entry door that can help improve your home’s curb appeal and value. The garage door is another area to evaluate for improvement. Consider replacing your old door with an energy efficient, insulated garage door that looks great while helping reduce heating and cooling costs.
Changing the Siding
If your home’s exterior is looking shabby, painting or residing can make a big difference in the appearance of the home. Vinyl siding is energy efficient and low maintenance, which is a great selling point to buyers, while making your home look like new again from the outside. It is also listed high on the Cost vs. Value Report, making it a good investment.
Another option is to add stone veneer to the bottom portion of your home’s exterior. Stone is very trendy and can give your home a classic, upscale appearance that can help it stand out from the competition. This is also one of the best values as far as return on investment.
Upgrading the Outdoor Living Space
The backyard has become a big selling point for home buyers. More and more people are looking for homes that offer a great place to relax and entertain guests outside. Adding a new wooden deck or stone patio can make a big difference in how buyers perceive your home. If they can picture themselves enjoying time with family and friends in your backyard, they are more likely to consider buying your home for the best price.
If you have a pool or spa, this is also an area that can have a big bang for your buck when it comes to renovations. An older pool with faded or worn surfacing can hurt the overall appeal of the home. Resurfacing your pool or spa can make it look new again, as can adding a new pool deck. Once again, it is about helping the buyers envision themselves living in the home and enjoying all the amenities.
The kitchen is often the center of the home and can be a deal breaker for some buyers. An outdated or poorly designed kitchen can detract from the overall value of a home. To make your kitchen more desirable, focus on making improvements that will make it more inviting and functional, such as new cabinets, adding an island, replacing the sink, changing the countertops or installing new flooring. Focus your expenditures on the structural part of the kitchen instead of appliances, since you will most likely be taking those with you when you sell.
Getting the maximum value for your home when you sell is important, as is getting the most value when you shop for a mortgage for your new home. At Galaxy Lending Group, we can help find the right loan for your new purchase with low fees and an excellent interest rates. Contact us when you are ready to buy your dream home with the proceeds from your home sale.