Unless you’re filthy rich and itching to make it rain dollars at the home improvement store, you probably want to spend money to improve things around your home to help with future resale. You probably also want to ensure those bucks are going toward something that actually nets you some money in the future. It might feel like taking a stab in the dark to choose where to spend your money. Should you gut the kitchen or do something that isn’t as flashy, like insulating the attic?
We did the work for you and have compiled 5 of the best ways to improve and actually recoup your investment.
1. Insulation equals big bucks– This isn’t the most exciting item on anyone’s home improvement punch list. Replacing or adding attic insulation returns more than 115% of your investment according to research. Energy efficiency is on everyone’s minds these days. Making your home a cleaner running space is a great way to see a big return when you go to sell your home. You’ll also be able to enjoy lower utility bills (and, in some cases tax write-offs) while you’re still living in your home.
2. Don’t go for broke in the kitchen- Of course, a great before and after is fun to see! But wait a second before having your own Chip and Joanna Gaines’ style “Demo Day” party. You don’t necessarily need to knock out walls or reconfigure layouts to see a big return on your kitchen spending. The research shows that minor kitchen remodels actually net more money than major ones. Try replacing dated countertops with higher end finishes, have your cabinets painted a fresh color, replace old appliances, or upgrade fixtures. You don’t have to change everything to see a great return. Buyers do love great kitchens, but there’s no reason to go for broke!
3. Go for a fresh color scheme– Painting returns more than 100% of the original investment. It’s an inexpensive way to make your home look fresher and instantly spruced up. Tone down any polarizing colors that might turn off buyers. Note that red dining rooms or bright yellow kitchens don’t appeal to everyone! The hottest trend in the design world right now is the color “greige,” a mix of cool and warm grey tones that coordinate with all sorts of color choices and look great in almost every light. Benjamin Moore’s “Revere Pewter” has a cult following and looks great painted throughout a home.
4. Look down- Look below your feet. Do you still have builder grade carpeting? It’s time to upgrade to something buyers will love. Hardwood still remains king. Even replacing the areas nearest the entryway and heart of the home is a great way to make your home more marketable and updated.
5. Think outside the box- Although not a “quick and easy” style upgrade, adding additional square footage is one of the best ways you can see a huge increase in your potential asking price. Additional space is something everyone is looking for. If the added space is marketable in your neighborhood and it can be done, adding on a room or a bathroom is a great way to recoup your dollars spent on home improvements.
With some calculated spending, it’s easy to ensure you will see a real return on home improvements when it’s time to sell. Not sure if a home improvement is worth it? Contact us, and we would be glad to lend our expertise.
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