If you are thinking about or are currently in the process of selling your home, you no doubt have already been considering ways to make sure you get the maximum value for the property. Home renovations are a great way to increase the value of your home while helping to attract a variety of new buyers and incentivize a quicker closing.
However, whether you’ve decided to make certain changes or sell your house as is, there are some proven renovation strategies you can apply that will definitely increase the buyer pool you’ll have to work with.
Make Updates to the Kitchen
Whether you’re selling your home to a single individual or a large family, kitchens are often one of the most used areas. Because of this, there are a number of things you can do to make your kitchen more functional for the next resident(s) and increase the number of people interested in the property.
Kitchens often take up a large footprint in a home, and first impressions can be everything. A big part of this presentation has to do with the cabinetry, countertops, and appliances you select.
If your kitchen is relatively new, chances are the finish and color of your cabinets won’t need much work. However, if the cabinets look dated, a fresh coat of paint could be just the trick to give your kitchen a fresh new look – or you can replace them altogether.
Of course, most people will want to make sure their kitchens are functional and modern. The types of countertops and appliances you have could make all the difference in a decision to purchase or look at whatever else the market is offering. It’s often considered a great investment to upgrade appliances to more modern stainless steel options and have durable countertops that both look great and are durable, like granite or quartz.
Give Your Bathroom a Refresh
Even if your potential buyers never use their kitchen, they will no doubt use their bathroom. Bathrooms are another essential space of your home, and they serve a variety of purposes. Giving your bathroom a refresh or a complete remodel can be a great investment that can pay off considerably when it comes time to sell.
An outdated bathroom can actually be a major deterrent for home buyers. Even if the rest of the house looks perfect, if the bathroom isn’t highly functional or appears “run down,” you might miss out on a great opportunity to close a deal.
Fixtures and finishes are often the first place to look when wanting to freshen up these spaces. This includes replacing any worn-down faucets with newer options and considering a more modern toilet or shower.
Depending on the budget you’re looking to stay within, a full bathroom remodel could be a great way to refresh the entire space and allow you to completely change the layout of the room. This is also a great opportunity to inspect and update any potential plumbing or electrical components to ensure there are no hidden problems and increase the value of the home even more.
Get Rid of Outdated Flooring
When holding an open house for potential buyer walkthroughs, the type of flooring the home has will be another major variable used when deciding whether or not to make a purchase. The perfect home flooring type is fairly subjective; however, the important thing is that the flooring you have shouldn’t look dated and should complement the other features of the property.
While new flooring installations are a great value add for properties, the length of time it takes to renovate is sometimes a deterrent. However, if you currently have worn-out carpets or multiple flooring types in different areas of your home it is definitely something worth considering.
It’s important to remember that most people looking for a new home don’t want it to be hard to clean or take care of. This is why swapping out carpets for easy-to-maintain laminate, vinyl, or tile flooring can be a great investment while also making the home look much more modern.
Create Higher Curb Appeal
They say that first impressions mean everything, and when you’re looking to spend hundreds, thousands, or even millions of dollars on a new home, this couldn’t be more accurate.
Before a potential home buyer even walks through your door, they will have already made large assumptions about the quality of the property. Curb appeal is something that doesn’t necessarily take a huge financial investment to maintain but can bring in huge returns.
Even just having a freshly painted door and perimeter, along with a well-maintained lawn, can make all the difference when it comes to the number of potential buyers you bring in. Remember that most new home buyers will have already seen your property on a listing site or driven by the property and have seen a “for sale” sign. This means you have one shot to make a great first impression.
Take the time to thoroughly examine the outside of your home and address any major issues like chipped paint, outdated shutters, or oil-stained driveways. This will help to make sure that even before a potential home buyer enters your home, they’ll already be feeling good about the valuation of the property.
Keep Your Home Energy Efficient
It’s no secret that the cost of living only continues to escalate in various parts of the world. Along with this reality is the ongoing issue of global warming and greenhouse gas emissions. While this awareness is starting to become more widespread, these ongoing issues are extremely relevant for younger people – especially those looking to buy their first home.
Energy efficiency is a huge topic of discussion today in all areas of life – the cars we drive, the products we purchase, and the homes we live in. You have an opportunity to help support this narrative by keeping your home as energy-efficient as possible. This includes replacing and recycling older appliances for ones that consume less energy.
This approach has various benefits, including lower utility costs and more sustainable living for the property’s next resident(s). You can consider installing smart thermostats or lighting options, or in certain areas even installing solar panel roofing options.
Attract More Buyers to Your Property
When it’s time to sell your home, the more potential buyers you can attract, the better offers you’ll receive. By following some of these basic strategies, you’ll maximize your home’s purchasing appeal while maximizing your renovation investments.
Author Information
Author Name: Michael Alladawi
Author Bio:
Michael Alladawi, CEO & Founder of Revive Real Estate, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive Real Estate to share his industry knowledge and help homeowners maximize their profits when selling their homes. Michael’s passion for his work is as big as his desire to create lasting partnerships. For Michael, it all comes down to how much value one offers, both in business and life relationships.
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