When it comes to home renovations, it is important to make upgrades that will appeal to buyers and will be the best use of your money. All too often, people spend the money to make their home more beautiful and functional, but the emphasis is on customization and not resale appeal.
If you plan to live in your home for the rest of your life making custom renovations is fine, but if you think you may sell it in the next 10 years, making changes that increase its value and make it more attractive are better options for bringing in a higher price. This is especially true of older homes that may need a little cosmetic fixing up. What areas should you concentrate your efforts on? Potential homeowners and real estate investors look at certain areas first.
The areas that buyers pay the most attention to are:
- Kitchen
- Bathroom
- Bedroom
- Living Room
When making renovations to a home, it is tempting to want to add all the features that you want to make it more comfortable for you and your family, but when choosing fixtures, colors, and designs, keeping the focus more on what potential buyers may like will ensure the best possible return on your investment. That’s not to say that you can’t have what appeals to you. Just make it balanced between customization and universal appeal.
If you want to make the best possible changes to increase your home’s value without spending a ton of money, one way to do that is to hire an interior designer to help you come up with the look you want at a good price that won’t break the bank. People often don’t know what they want, and looking through design magazines doesn’t always solve the problem. Someone with an eye for what looks good and what will appeal to others may offer better results.
So, on to the question of how to increase the value of your home? Here are a few things you can concentrate on to bring in a higher return on the money spent.
Home Renovations That Are Worth the Cost
Flooring
Flooring is a low-cost expense that will net you a higher return on your investment. Hardwood floors add beauty and value to a home. A buyer who walks into a house with hardwood flooring will no doubt love it. Upgrading your kitchen and dining room with new hardwood flooring is definitely worth the cost. A study performed in 2017 by the National Association of Home Builders found that 87% percent of buyers prefer hardwood flooring.
New carpet and paint in the bedrooms and living room are also a good option. Paint is relatively cheap, and a new coat throughout the rooms will make them look new and hide any imperfections or flaws.
Kitchen Countertops
Kitchens are one of the main selling points of a home. It’s the one room in the house that people spend a majority of their time in. We cook, eat meals together, and socialize over cups of coffee in this room, so it should be beautiful and functional.
Granite and natural stone are two very popular choices for counter materials. They come in a variety of colors to match your decor. Upgrading your countertops will increase the home’s beauty and bring in more money at resale. If you upgrade the countertops, you should also make sure that your cupboards look nice as well. You don’t want to add beauty in one area, while the other areas detract from what you’re trying to accomplish.
Appliance Upgrades
Old stovetops, refrigerators and dishwashers might turn off would-be buyers and hurt you during negotiations. Adding stylish new appliances can give the look of a brand-new kitchen, even if you didn’t go “all out.” Modern, energy-efficient appliances are a good investment, because they save money and won’t need replacing anytime soon. The trend right now is fingerprint-proof stainless steel refrigerators with ice and water in the door. Matching stove and dishwasher will complete the look and impress potential buyers looking for these features.
Heating and Cooling Systems
No matter what size home you have, it should adequately heat and cool itself. If your HVAC system isn’t running at its very best, it could be time for a new installation. You can qualify for rebates and tax incentives for upgrading to newer, energy efficient systems.
Smart Technology
Digital thermostats that allow you to set custom levels of comfort add functionality and value to your home. Motion sensors, cameras, and security systems increase value and peace of mind when it comes to keeping away would-be intruders. Voice-controlled technology is another good investment. Audio sound systems throughout the home are good investments for making the most of your stereo and television experience.
Additional Tips:
Home Staging
We put this in the tips section as an extra. Although this isn’t really a home renovation, it can still help you bring in a higher price tag when it comes time to sell. Home staging helps prospective buyers imagine what the home might look like “lived-in.” There is a big difference between walking through an empty house and walking through a house with furniture, furnishings, and art work.
If you’re wanting to make some changes to your home and need a little help, Out the Lines Design can help make your dreams a reality. We are a design-build specialty construction company staffed with talented interior designers that can help you determine the look of your new kitchen, bathroom, or bedroom at an affordable price. Give us a call at (678) 392-7653 today or visit us on the web.
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