Unexpected Home Improvements That Pay-off Long-Term
In many areas of the country, the real estate market is bouncing back quickly despite recent events. There’s a shortage of listings which means homes sell quickly if they’re priced well and in move-in condition. If you are thinking of selling your home now could be the perfect time to sell. If you’re in an area where you may not be experiencing a fast-paced market, you can make your home even more attractive to a prospective buyer by improving its value with some renovations.
It’s essential to get this one right. Truthfully, if you don't choose the right areas to renovate in the right way it could end up costing you a lot of money and actually not adding much value at all to your home. For example, in-ground swimming pools bring value to your quality of life and it may seem like a great differentiating factor when selling a home but by having one, you would be eliminating a huge portion of the market.
Another one to avoid is over-customizing certain areas of the house, especially if you think you might sell in the next few years. Depending on your home’s price point, avoid renovations that only suit one specific style like Tuscan tiles in the bathroom or busy flowery wallpaper in the living room. Customization is more likely to put potential buyers off the property as they will be interested in making it their own. If you renovate these areas with selling in mind ensure that they are kept modern and simple.
The main areas you’ll want to renovate are the kitchen, with touches like new worktops from a trusted granite supplier, bathrooms, and living area. That’s fairly obvious. But there are many other upgrades you can make that are destined to pay off.
Closet
You might have seen custom closets before, perhaps on the TV or in the homes of your friends or neighbors. Normally located in the master bedroom, they can be wall-mounted or walk-in rooms.
But can custom closets increase your home’s value?
The short answer is yes they can. Renovating a room with a custom closet is an excellent way to showcase your house to potential buyers. Everybody needs a closet so you don’t have to worry about them finding it superfluous or out of place. Just make sure to use neutral colors and a contemporary style to appeal to the broadest market.
Energy Efficiency
This is a big one. Buyers these days are in the market for homes that have good insulation and energy-efficient windows, roofs, and doors. It’s estimated by Energy Star that an energy-efficient home can save up to $500 per year, not to mention the reduced environmental impact. Potential buyers will offer more for a house if they can see that it offers a future saving. If you're going to upgrade your home, make energy efficiency a top priority.
Back Yard
If you want to increase the value of your home and save money while doing it then don’t pay a landscaper to build you an elaborate Japanese garden. More people want nice outdoor areas as we are spending more time at home. A backyard that is ready for enjoyment but with room for buyers to make their own is a great asset. If you want to upgrade, consider decking as an alternative. This is an affordable upgrade that will attract with most potential buyers. Composite materials means considerably less maintenance for the new homeowner over the years.