Whether you just started thinking about selling your home or you home is already on the market, completing a few home improvement projects can go a long way to increase the value of your home. In fact, a study by RIS Media showed that 32% of consumers planned to spend money on improving their home; 20% of those respondents planned to sell their home after renovations.
When considering home improvements it’s important to remember that bigger does not always mean better. There are a number of high-cost projects that can help you sell your home, but there are also a number of budget-friendly projects that can go a long way.
Keep in mind, the goal is not to focus on luxury updates, but rather home functionality updates. Below is our list of home projects that have a direct correlation with resale value.
High Cost, High Payoff Projects
- Windows – these can be expensive to replace, but buyers expect windows to be in good condition. If your windows are old and in rough shape consider replacing. However, if your windows are in good condition, replacing them will not dramatically increase the value of your home.
- Roof – like windows, this is an expensive replacement. Use the same mentality, if your roof is in good shape no need to replace.
- Kitchen updates – depending on the upgrade, these can also come with a hefty price tag; although, these types of updates also tend to have a big payoff. Readers frequently see mentions of kitchen upgrades in listings for a reason, these types of upgrades are selling points.
- Bathroom updates – like the kitchen, consumers prefer to see a modernized bathroom. Update this room to ensure a better selling price.
Low Cost Projects
- Add curb appeal – this can be as simple as cleaning up the yard; get rid of weeds and ensure lawn is nice and green. Go the extra mile by adding a fresh coat of paint to the door, trim and exterior. If money permits, consider adding some landscaping to the yard.
- Interior color – painting a room can completely change the look and feel. If you have a room that is need of an upgrade start by adding a fresh coat of paint. Take a look at your kitchen as well, if your cabinets are looking a bit drab add paint or stain.
- Update lighting fixtures – Modernizing lighting fixtures can help to make a room feel more current and updated.
- Update hardware – replacing faucets and cabinet handles can create a totally new appearance in the kitchen or bathroom. If replacing is unnecessary or out of your budget, make sure to polish these pieces.
- Efficiency upgrade – add storm windows and ceiling fans. Many buyers appreciate homes that offer energy efficient renovations.