When it comes time to sell your home, you will likely be put in a situation where home updates, repairs, and upgrades are recommended in order to boost the value of your home for maximum returns! Now before tearing down a wall or throwing your money at everything, it's important to understand not all home renovations are equal. Below you will find a list of the top 5 home renovations that have a significant impact on your selling potential:
1. Improve Energy Efficiency
Just to give an example, attic insulation projects return approximately 120% of their costs! Other energy-efficiency upgrades that are effective include updating HVAC, water heaters, and windows. If you do these changes early in the process (enough to get utility bills), your real estate agent can show potential buyers the difference between the monthly costs before and after the upgrades!
2. Spruce Up Your Curb Appeal
First impressions matter, and it starts the moment a potential buyer lays eyes on your home. These exterior improvements don't need to be radical either, there are many subtle touches that have a huge impact. Some examples include power washing the home exterior, re-painting window frames and doors, and installing some spotlights. If your property has abundant green space, you should consider landscaping services which beautify the lawn with mulch, shrubs, and planting seasonal colorful plants. If you have the means for it, adding new stone veneers, entry doors, and garage doors almost always recoup 100% of their cost.
3. Minor Kitchen Remodeling
As the title suggests, I'm not recommending that you spend tens of thousands to improve the kitchen. I'm talking about the minor renovations that bring the most impact. Some examples include re-painting cabinets, installing new handles, installing stainless steel appliances, upgrading countertops, and putting up a new backsplash!