As much as you love your current home, there will come a time when you feel like you need a bigger and cozier living space. That usually comes as a result of major life decisions. Transitioning to a new neighborhood is normal. If anything, it indicates that you’re doing well in life. You just have to make sure that you get the most out of selling your current home. That way, you will have extra cash to fuel your new goals as you settle down in your new one.
All it takes is knowing how to boost the resale value of your current living space. The best part about homeownership is that massive returns are guaranteed, especially if it’s situated in a hot real estate market where demand is high and you could profit off of the best features of your property. It’s only a matter of knowing which home improvement projects would help nudge up your resale price once you’ve decided to put your home on the market. Consider these suggestions:
1. Remodel Your Kitchen
More than just a place for cooking delicious meals, the kitchen is an essential factor in determining your home’s sellability and final resale price. The price for a remodel might be too costly, but that would pay off once it’s done. You can opt to expand the space to ensure maximum airflow. This could involve a major overhaul of your kitchen layout but the final result could help draw in buyers who prefer a roomier kitchen that allows for extra appliances and storage units.
Adding a kitchen island and swapping your appliances with new models could make your home more attractive to high-end buyers, but if you don’t have enough to afford these improvements, you’re better off with a simple remodeling plan. Repainting the cabinets and interior walls can freshen up the space and draw in buyers. Laminating your countertop or kitchen island could also be a more affordable alternative to overhauling the kitchen’s flooring.
If changing the flooring is well within your budget, you can opt for a more luxurious feel with materials such as vinyl tile or natural stone. These may set you back hundreds of dollars compared to standard ceramic tile, but their durability and their resistance to moisture make these flooring options a good draw among luxury buyers.
2. Renovate the Bathroom
Aside from the kitchen, a refurbished bathroom could also be a major deal-maker if you’re planning to sell your home for the best returns, that is if you could afford a major remodel. Luxury buyers are guaranteed to put a premium on walk-in showers and countertops made from granite. You could make up for the high cost by keeping the current layout.
Energy-efficient features can also help justify a higher asking price if you put your home on the market. Consider swapping to low-flow toilets and faucets and installing a hot water recirculation system which are sought-after among buyers who prefer keeping their energy costs low.
In case you don’t have enough cash to finance such amenities, you can always go for affordable enhancements that are just as effective in raising your home’s resale value. These may include repainting the bathroom walls with a neutral color such as beige which allow for a more premium look and feel. You can also add warm ambient lights that could give the bathroom a more relaxing atmosphere. It’s also a big plus to add accessibility features such as handrails which are a top priority among senior buyers.
3. Enhance the Exterior
Increasing the resale value of your home isn’t just a matter of improving the interior space. Buyers are more likely to accept your asking price if they love how your home looks from the curb. Consider exterior improvements that are guaranteed to add more dollars to the final price of your property. You can start by changing the color of the exterior walls to something that reflects current trends in the neighborhood. A faded and discolored exterior isn’t going to help you snag a higher price at the negotiating table, so you might as well give your home a fresh coat of paint.
Simple enhancements like repainting the exterior walls and replacing the front door are the most basic you can opt for. However, if you have extra money to spare, consider elevating the landscaping by installing a flower box or patio. It also helps if you could spruce up the garage starting with the roofing and entrance. Go for one that matches the climate of the location. If you live in North Texas, you might as well shop around for Dallas/Fort Worth residential garage doors that are durable and long-lasting.
Exterior lighting is also a major investment that could nudge up your asking price. With this in mind, consider adding warm lights along the driveway and pathway. Other buyers wouldn’t hesitate to put in a good offer if your landscaping comes with a floodlight illuminating the exterior facade and eliminating blindspots that trespassers could exploit.
4. Go for Smart Improvements
With technology becoming smarter and more ingrained in your daily life, expect younger buyers to ask if your home is well-equipped with the latest lifestyle technology. Aside from AI household assistants, smart thermostats and security systems are becoming popular among those who are willing to pay more to have these tools within their reach. Today, many Millennial buyers are interested in owning smart homes that could help automate repetitive tasks and provide greater comfort and security.
It might set you back hundreds (if not thousands) of dollars, but installing automatic locks and lights could give your home a competitive edge. Security cameras with motion detectors and automatic notification systems are also effective deal-makers, especially if you’re in a market where such smart technologies are in demand. In particular, buyers would love to know if your home could be integrated with a voice assistant which they could also access using a mobile device.
Older buyers may even pay more to live in homes that are fitted with assistive tools so you might as well include that in your home improvement list. Currently, seniors are more eager to purchase homes that feature sensors that could detect falls and automatically alert nearby emergency responders. Some smart homes may even include voice assistants that generate medication reminders and allow seniors to automate such tasks as scheduling appointments and adjusting temperatures.
Endnote
Nothing in life is permanent, but better opportunities await you. It’s only a matter of knowing how to make the most of what you have to fuel where you want to be.
