Thoughtful upgrades to your property can deliver a big return on investment when you’re ready to sell your home. Whether you have the time and budget for a major renovation or are looking for quick DIY improvements, consider these tips from our real estate experts.
According to HGTV, out of each dollar that you spend on renovations, 75 to 80 cents go directly back into your home through the increased value.
Curb Appeal Is Real
While the growing season in Summit County is short, beautiful landscaping can create a wow factor year-round. A quick consultation with local vendors can yield ideas for an evergreen yard design. A fresh coat of paint on the door, trim or shutters and mountain-inspired details can set the tone for the interior design and make the right first impression on potential buyers.
Kitchens Really Do Sell Houses
Realtors, appraisers and buyers agree – upgrades to the kitchen are the number one opportunity to increase the value of your home. Choose how high-end and high-design you want to go with cabinetry, appliances, backsplash, flooring and fixtures and don’t be afraid to take risks to create a unique mountain retreat. The average return on investment on a kitchen remodel is almost 70%, so well worth your attention.
Make the Bathrooms Shine
Like the kitchen, upgrades in bathrooms are high-impact and will catch the eye of the potential buyers. A brand-new, spa-like master bath will stand out, but less expensive improvements will also increase the sale price. New faucets and lighting are relatively inexpensive and will make even the smallest space shine. If you do have the budget to renovate, the average cost of remodeling a bathroom is $5,000 to $8,000 and you will make your money back here.
Knocking out a wall to create an open floor plan can change the feel of a house, especially if your home is small. Removing dark window treatments or installing new windows can also make your home feel bigger without adding real estate. Consider expanding the livable space in your home with improvements outside too – a fire pit or paved patio with room for seating can catch the attention of buyers who like to entertain.
New energy-efficient features can save money on utilities – in the range of 30 to 40% – and increase the value of your home. Insulation, appliances, heating and cooling systems, windows and solar panels are the most common upgrades to help make your home attractive to buyers who are aware of the benefits of energy-efficient homes. Start with an energy audit and make sure your realtor knows about the improvements to make the most of your investment.