It’s a seller’s market, get top dollar for your home with a few improvements that buyers actually want. Since not all improvements are created equally, take a look at a few of the ones that’ll give you the best return on your investment.
Does your kitchen have worn-out surfaces, finishes, and appliances? Based off of NAR’s 2015 Remodeling Impact Report, 82% of consumers said they have a greater desire to be home since completing a kitchen upgrade and 57% of Realtors have suggested sellers complete a kitchen upgrade before attempting to sell. Replace old or damaged appliances, update your light fixtures, get rid of that damaged floor, and give your kitchen a fresh coat of paint. Do a minor remodel when your kitchen needs a cosmetic update and not a drastically different floor plan.
Make your bathroom more modern for better function and livability, but avoid anything too trendy. Choose classic features, like off-white subway tiles; this will appeal to people with both traditional and contemporary tastes. It costs approximately $10,500 to replace the tub, floor, toilet, sink, vanity and fixtures. On average you may get back $10,700 at resale, which is a recoup rate of 102%!
(before + after)
The interior project projected to return the biggest bang for your buck is refinishing your hardwood floors! Installing new floors, or restoring your old ones will essentially pay for itself – an estimated 100% return on investment, according to Realtors. Refinishing hardwood floors is an intricate process. Hire the professionals at Fairhaven Floors to sand, stain, and seal your floors and save yourself the trouble of a costly DIY-fail.
If a roof is leaking, it’ll be difficult for a buyer to get beyond that. Replacing a roof typically returns 80% or more at resale. 45% of realtors have suggested sellers add new roofing before attempting to sell and a whopping 32% said the project most recently helped cinch a deal!
The first thing home buyers see when they arrive at your home is the yard. Usher them in with a well maintained lawn. Put down fresh sod, replace tired bushes with new ones and add some color, either with flower beds or potted flowers. Even just a little bit goes a long way. Set the mood from the instant they pull up, and give your home some curb appeal. This upgrade is cost effective, quick, and gives your home a well-cared for feeling right off the bat.