Regardless of market conditions, as a seller you always want to maximize your sales price. Here are six home improvements that are attractive to homebuyers today. Not ready to move? These will tend to yield the highest return when you are ready to sell, so are worth considering if you're planning home upgrades.
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Energy Efficient Upgrades. Upgrading your insulation or replacing your doors and windows with more energy efficient equivalents are some of the most valuable renovations you can do. Not only can they add value to your home, but they will also decrease your monthly utility bills.
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Fresh Coat of Paint. There's nothing like a fresh coat of paint to liven up a home. A fresh coat of paint in a neutral tone, both inside and outside, is the most inexpensive way to update your home and ensure you attract more buyers.
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Finished Basement. Finished basements add useable space for things like a home gym, entertainment/bar area, game room or kids’ playroom.
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Kitchen/Bathroom Remodels. Beautiful kitchen and updated bathrooms are on the wish list of many homebuyers. While some kitchens and bathrooms may need a complete overhaul, even minor renovations such as new countertops, appliances and/or taps can be enough to increase the value of your home. New appliances especially can really update an older kitchen, and are almost always worth the cost vis-a-vis expected payback. Do be wary of spending excessive amounts on top-of-the-line installations, however, as you may not fully require these costs.
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Exterior Improvements. Replacing an old garage door, upgrading your front door, adding low maintenance landscaping, removing old awnings or adding a deck are all high-ROI renovations in the long term.
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Home Office. With the current trend toward work-at-home schedules, converting a spare room to a functioning home office will be attractive to many homebuyers today. Even carving out space in another room (e.g. a TV room that's only used in the evenings) can present good flexibility to potential buyers.
Contact me anytime for a complimentary consult, whether you’re planning to sell soon or if you simply want to ensure a good return on your reno investment for the long term.
