Renovate Your Home for Maximum Resale Value - Home & Texture
Homeownership Renovate

15 Ways to Renovate Your Home for Maximum Resale Value

By
May 3, 2023 at 9:15 PM PST
Homeownership Renovate

15 Ways to Renovate Your Home for Maximum Resale Value

By
May 3, 2023 at 9:15 PM PST

Are you planning to sell your home in the near future? If so, it’s important to consider making some renovations to increase its resale value. When you renovate your home, it can be costly. However, it also can boost your home’s appeal significantly and make it more attractive to potential buyers. Read on to learn 15 ways to renovate your home for maximum resale value.

1. Start with a Plan

Before you renovate your home, make sure you have a clear plan in place. This plan should outline your goals for the renovation, your budget and the timeline for completion. You should also research the needs and preferences of potential buyers in your area by consulting a real estate agent. This will help you make informed decisions about what renovations to undertake.

2. Focus on the Kitchen and Bathrooms

The kitchens and bathrooms are two areas of the home that can have a significant impact on its resale value. These rooms are often thought to be the most important in a home, and buyers are willing to pay a premium for modern and updated features. Some things that you can renovate include new countertops, cabinets and appliances in the kitchen, and new fixtures, lighting, and tile in the bathrooms.

3. Improve Curb Appeal

First impressions are crucial when it comes to selling a home. That is why it is important to consider renovations to the curb. This can be achieved through landscaping, painting the exterior, replacing the front door and adding new outdoor lighting.

4. Add More Living Space

If your home feels cramped or lacking in space, renovations that add more square footage would help. However, it may be a bigger or more time-consuming project. This could be in the form of an extension, finished basement or attic conversion. Additional living space can be a major selling point for buyers, especially those with growing families or who work from home.

5. Upgrade Energy Efficiency

Energy efficiency is becoming increasingly valuable to homebuyers, and making renovations in this area can pay off in the long run. This could include upgrading to energy efficient appliances, installing new windows and doors, adding insulation and upgrading to a high-efficiency HVAC system.

6. Consider the Neighborhood

You don’t want to invest in renovations that are too high-end or out of place for the neighborhood, as this can actually hurt your chances of selling. Do some research on what types of renovations are common in your area and what buyers are looking for.

7. Hire Professionals

While there are some renovations that can be done on your own, hiring professionals for more complex projects can save you much more time. This will ensure that the work is done properly and up to code, which can save you money in the long run. Additionally, professional work often looks more polished and can add more value to your home.

8. Stay Within Budget

Renovations quickly can become expensive, so be sure to set a budget and stick to it. It’s easy to get carried away with upgrades and renovations, but you don’t want to end up spending more than you can recoup. Focus on renovations that are within your budget and will provide the most return.

9. Don’t Neglect Maintenance

Before investing in major renovations, take care of any maintenance issues in your home. Look into fixing leaks, replacing damaged flooring or carpet and repainting walls.

10. bKeep it Neutral

Bold colors and unique designs may be appealing to some buyers, but they can also turn off others. Stick to neutral colors and classic designs that will appeal to a wide range of buyers when you renovate your home. This will increase your chances of selling quickly and for a higher price.

11. Opt for Open Floor Plans

Open floor plans have become increasingly popular in recent years. In fact, some open-floor plan houses sell for 15 percent more than sectional floor plans. If your home has a closed-off layout, you could knock down walls to create a more open and spacious feel. These renovations can make your home feel larger, more modern and attractive to buyers.

12. Upgrade Lighting

Lighting can have a big impact on how a home looks and feels. While making renovation plans, think about your home’s lighting to make it feel brighter and more inviting. Try adding new fixtures, replacing bulbs with brighter options and adding more natural light with skylights or larger windows.

13. Add Smart Home Features

Smart home features have become increasingly popular in recent years, and research reveals homes with high energy-efficiency ratings sold for for 2.7 percent more on average compared to homes that did not. Added features could include a smart thermostat, security system or lighting system. These features not only make your home more modern and convenient, but also they save buyers money on energy costs.

14. Improve Storage Space

Storage space is also a major selling point for many buyers. Look into adding shelves or cabinets in the garage, installing built-in storage in closets or adding a pantry in the kitchen.

15. Assess the Flooring

If your home has outdated or damaged flooring, consider replacing it with a more modern option. Hardwood floors are a popular choice that can add value to your home, but also they can be expensive. Other options include laminate or luxury vinyl plank flooring, which can provide a similar look for a lower cost.



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