If you are considering fixing up your home before you sell, look at potential home improvements strictly as a numbers game. In other words, how much will you spend on home improvements and what added dollar value are you hoping for?
Should you remodel the kitchen? Or just slap on some new paint? Most home improvements cost money, but only some home improvements consistently increase the resale value of your home.
Five Home Improvements Which Can Increase Value
Replace Your Front Door
You take your front door for granted (unless you forget your keys). It lets family and loved ones in and out of the house, while protecting you from weather and intruders.
Part of taking your front door for granted is the fact that you never notice when it is a bit worn and chipped. Replacing an old front door with a new one (especially a steel one) improves curb appeal, saves on energy costs, and yields a return on investment.
That Fresh Paint Smell
Everyone loves a fresh coat of paint, and that is one reason it is one of the easiest and most cost-effective improvements of all. Fresh paint can instantly transform a tired looking room into a vibrant, clean, and modern room. At an average cost of $25 dollars per gallon, this simple home improvement easily gets you a return on investment.
A new, quiet, decorative ceiling fan cools a room during those warm days when you don’t want to spend extra by using an air conditioner. The gentle breeze of the fan and its ability to double as a light creates a nice touch to any room.
Think of how much nicer this fan is than the squeaky, outdated fan you’re replacing. And it isn’t just ceiling fans which can be replaced and provide a return, any of your old fixtures can be inexpensively replaced with greener, newer models.
Clear the Clutter
When a potential buyer walks through your home, they are trying to visualize themselves and their belongings, in your space. The greater a seller’s clutter, the more difficult it is to visualize. If your home is full of clutter, buyers will be too distracted to imagine where they’ll put their belongings.
Plus, the less clutter the more spacious a room or home appears. The nice thing about de-cluttering is it is free and can even earn you money (eBay)!
Rid Yourself of Dreadful Popcorn Ceilings
When potential buyers see popcorn ceilings they may feel as if they walked into a hotel room, or they may wonder how many ceiling cracks the popcorn is covering. Popcorn ceilings are incredibly easy to remove (except for the huge mess). But before you start removal, make certain a professional checks these ceilings for asbestos.
Add a Closet
It makes sense that the difference in price between a two-bedroom and three-bedroom house is more substantial. You’re buying more room. To increase value, add a closet to a room currently used as an office or library and it becomes a bedroom.
Three Home Improvements That May Not Increase Value
Significant Bathroom Remodel
Add up the cost of all elements in a bathroom (including labor), and a major bathroom remodel costs an average of $18,546. The bathroom may look spectacular, but recouping all that money plus profit is not likely when you sell your home.
Homeowners make back an average sixty-five percent of the total bathroom remodel investment.
Major Kitchen Upgrade
A major kitchen remodel often includes new appliances, flooring, lighting, and countertops. The price point for the average major kitchen remodel is $62,158. Homeowners usually recoup an average of sixty-five percent of this cost.
A moderate amount of landscaping can increase curb appeal and home value. What is a moderate amount? Adding elements such as a few trees or shrubs, and investing in a weed-free lawn.
The problem is when folks over-landscape for the sake of home improvement dollars. Many potential homebuyers may see this maintenance upkeep as a pain in the neck (and pocketbook).
Research Home Improvement Efforts
You want to make certain your home appraises for as much as possible. Remember this, it’s a numbers game and any home improvements you make should be based on dollars, not conjecture.