When you’re planning to sell your home, you want to get the most money for it and ensure it stays on the market for the shortest amount of time possible.
A big part of achieving both of these objectives is working with an experienced real estate professional and setting the price so that it’s aggressive and competitive.
Beyond that, you might wonder whether you should make updates. There are certain updates you can do before your home hits the market that will increase its value in the eyes of potential buyers. It’s important to be discerning and choose updates that will likely provide you with a positive return on your investment because not all updates will.
The following are the top 7 updates to increase your home value before you sell it.
1. Improve Energy Efficiency
According to a Remodeling.com survey cited on The Motley Fool, if you make small changes to improve energy efficiency, such as adding attic insulation, you could recoup an average of 116% of your original costs.
You can also consider updating your windows if you’re willing to take on a more costly project to improve efficiency, or upgrading your HVAC unit.
If you do make changes to improve the energy efficiency of your home, make sure your Realtor knows and prices your home accordingly.
2. Refresh Your Landscaping
Curb appeal plays a big role in how appealing your home is to possible buyers because it’s the first impression.
You can refresh your landscape for very little money. For example, cleaning up sticks and debris, trimming bushes and dealing with any unruly limbs can go a long way.
You could add colorful flowers to your landscaping, or you could redo any beds that need freshening up.
3. Paint or Replace Your Front Door
Another important part of curb appeal is your front door. If it needs it, add a fresh coat of paint to your front door or replace it altogether. It can quickly, easily, and inexpensively breathe new life into the exterior of your home before it goes on the market.
4. Upgrade Your Bathrooms
A full bathroom remodel is an expensive project, but there are ways you can update and improve the aesthetics of your bathroom without spending a ton.
According to HGTV, if you were to replace your tub, tile surround, floor, sink, vanity, and fixtures, you could see an average return of 102% when you sell your home.
Even if you don’t want to do all that work, you could replace your tub or refinish it. You can also replace your bathroom vanities, add a backsplash, or simply repaint your bathrooms and modernize the light fixtures.
5. Clean Your Basement and Make It Functional
If you have a basement, it can either serve as a turn-off to buyers, or something that’s appealing and sets your home apart.
You want to clean up your basement at the very least. You don’t ever want it to feel or smell damp. You may need to get a professional company to come to your home and help you if you have a damp basement.
Beyond that, you can finish your basement to give buyers more livable space by adding drywall, insulation, and flooring.
You don’t want to go overboard with the materials because it is still a basement, but a finished basement can give you a competitive edge when you’re on the market. Basement remodels can get you a return on your investment of anywhere from 50 to 100%.
6. Refresh the Kitchen
As is the case with bathrooms, updating your kitchen can be a big, expensive project, but it doesn’t have to be. If you don’t have the budget for a full kitchen remodel, you can do minor updates.
Some of the areas buyers are most likely to look at include the cabinets, so you might replace them or at least reface them, as well as the appliances and the flooring.
A lot of what you want to weigh when you’re considering a kitchen refresh is the rest of your house. You don’t want to spend so much on your kitchen remodel that it’s out of proportion to the value of the rest of your home.
7. Add Outdoor Space
Finally, many buyers and especially Millennial buyers like the outdoor of flexible outdoor living spaces. Think about the addition of a deck or patio to make your home more appealing to buyers.
Find a top-selling real estate professional with EffectiveAgents® today, who can guide you through the process to sell your home for top dollar.