When selling a home, all homeowners strive to fetch the highest resale price, and the way they do that is by making upgrades that increase their home value. However, with so many options to choose from, it might be difficult to decide which home improvement projects are worth it and which ones aren’t. It helps to know the difference, so have a look at this list of six proven ways you can net the highest ROI.
Improve your home’s curb appeal with landscaping and exterior upgrades
Although it often gets overlooked, landscaping can make a big difference when it comes to the perceived value of the property. Your home’s exterior is the first thing your prospective buyers will see, so make it count. Invest in quality landscaping to ensure you make a great first impression, and consider introducing a deck in your backyard as well as an outdoor fireplace or fire pit. It can completely transform your outdoor space and make it cozy and inviting. Another thing you could do to boost your home’s curb appeal would be to replace siding. If that’s not an option, consider power washing – it’ll help freshen things up while barely costing anything.
Update your bathroom and kitchen
It’s no wonder that homeowners around the world choose to splurge on renovating these two rooms in the house – they’re sure to bring the house value up but don’t necessarily cost a fortune. Depending on your budget, you could make some minor changes in your kitchen such as repainting the cabinets, speed-clean the fridge or you can redo the entire room and spend more now and regain these costs at resale. As for the bathroom, a walk-in shower will instantly boost your home’s value, and so will vanity upgrades, bathtubs, updated backsplash and tiles, and new plumbing fixtures.
Upgrade your flooring
Another way to maximize your home’s resale value would be to install quality flooring. Because it sets a design tone for your entire home, you need to choose wisely and find the flooring that looks as great as it performs. Investing in quality epoxy flooring is a great way to bring up your home’s value while also getting a durable flooring solution that looks stunning. Due to the versatility, epoxy finishes can be used throughout the house, from bathrooms and kitchens to hallways and living areas, and make the rooms connect and flow together perfectly. With the addition of a slip-resistant coat, epoxy finishes can even be used for driveways, patios, pool areas, even garages.
Re-do your plumbing
We already talked about how bathroom remodeling can boost your home’s value, but before making any cosmetic changes, it’s best to check for structural problems and see whether there are any plumbing issues that need to be addressed. Outdated and corroded pipes, water discoloration, and low water pressure are all telltale signs that you need to re-do your plumbing. Even though these types of repairs can be costly, you will recuperate the money you invest if you manage to find and solve the problem.
Make eco-friendly, energy-efficient upgrades
Energy conservation features play an important role in enticing eco-conscious buyers. Environmentally conscious companies such as Escape Waste recommend inspecting your home for energy wastage and, with the help of a certified energy auditor you can decide which energy-efficient upgrades to make. Eco-friendly upgrades such as installing double-paned windows, switching to LED lighting and equipping the home with green appliances can all boost the home’s perceived value. Solar panels are another good energy-efficient investment, but the payoff time varies from place to place, and so does the amount of savings.
Expand your floor space
Having plenty of space is one of the deciding factors for most home buyers, so if you can afford to expand your floor space, by all means, go for it. Even a 1000sq ft increase will do wonders for the overall resale value of the home, adding up to 30% to its original price. Whether you decide to add an extra bedroom, or a guest bathroom, build a deck or simply finish your basement, you will be creating additional living space, and bigger square footage commands a higher value of the home.
Knowing what features home buyers look for can be of great help when deciding which home improvements to make. These six upgrades are certainly worth the investment as they will help you attract top dollar when selling and ensure a successful, quick, and lucrative sale.