The Best and Worst Home Improvements That Can Alter Your Home’s Resale Value
It’s estimated that the average American will move 11 times in their lifetime. If you’re one of the many millions of homeowners who have decided it’s time to sell up, you may be looking into home improvements that can bring your property into modern times and increase the chances of a quick sale. Unfortunately, many homeowners make the mistake of shelling out thousands of dollars on projects that don’t yield any financial return.
To ensure your money goes further, here are some of the best and worst home improvements that can increase or decrease your property’s value.
DO: Remodel Your Kitchen
Depending on opinion, it’s argued that the kitchen is the most important and used area of the home. This means that, when it comes to selling your property, any kitchen upgrades will pay off in the long run. Whether you have lots of money aside for an entire kitchen remodel, or you can only afford minor updates, a kitchen remodel is one of the best home improvements you can do for increasing your home’s resale value.
DON’T: Add a Swimming Pool
Unless you live in a state like Florida or Arizona that welcomes plenty of sunshine throughout the year, adding a swimming pool to your backyard may not be the wisest decision. A swimming pool is notoriously expensive to install and pricey to maintain. What’s more, there are hazards like drowning associated with water, meaning families with young children may be turned off.
DO: Convert Your Attic
All potential homebuyers want to get excellent value for money on a property. Understandably, the more space you have, the better. If you have an attic that is collecting dust, it may be time to transform it into additional living space. For those that have a large attic, it can be converted into separate rooms like a bedroom and bathroom. While it may be costly to undergo this project, you will notice a considerable boost to your home’s resale value. Alongside an attic conversion, here are 6 additional ways to increase your home’s value.
DON’T: Lay New Carpet
Many realtors consider laying a new carpet as a pointless and potentially expensive exercise. When showing buyers around, they may not like the color or want carpet at all which can be an added task for them once they move in. Instead, you should stick with vinyl flooring, wood, or tiles that are strong and durable, easy to clean, and most importantly, add value.
DO: Boost Your Curb Appeal
Potential homebuyers pay attention to how the exterior of your home looks. Even if you’re proud of what’s on the inside, your home’s curb appeal is what you should be focusing on. Keeping your front and backyard in excellent condition and creating a warm and welcoming atmosphere is essential for getting viewings off to the best start.
Before opening your door to potential homebuyers, there are several home improvements you can make that will get your property in order. To stop you from making the same mistakes of homeowners before you, the guide above should give more clarification on the dos and don’ts.