Home improvements, renovations and upgrades are great ways to extend the life of your home, add living space and make living more comfortable and secure. It also makes the room more appealing. But does it increase the value of your home?
When you need to put your Incline Village home up for sale, will the home improvements you've made cause a sufficient impact to yield good returns?
Let me tell you two important things when it comes to renovations and upgrades.
Bullet 1. Not all upgrades can bring the additional value you hope for.
Some renovations will increase the value of your home, others can make it more difficult to sell. You need to know the right renovations and upgrades for your home.
As your real estate agent, it is my responsibility to help you know which upgrades can increase your home's value.
Bullet 2. Renovations and the style designs are personal choices, and not all home buyers will love the changes.
Home buyers have their own preference, and at times, they may not be in love with the materials you used in the renovation.
What upgrades pay off when it comes to reselling the home?
1. Kitchen. The kitchen is one of the favorite places home buyers check to consider whether or not they will buy your Incline Village home for sale.
Because many people love to spend time in the kitchen, they prefer their kitchen to be efficient, functional and stylish.
Kitchen upgrades are usually costly, but have high returns. This is especially true for older homes.
2. Bathrooms. Next to the kitchen, bathroom renovations are high on the list of considered upgrades when estimating the value of your home.
Because it is one of the prominent rooms of the home, buyers prefer bathrooms that are comfortable, modern, well-lighted and with a touch of luxury. Replacing your shower/tub combo with a frameless walk-in shower has a high return of investment.
3. General maintenance. A gourmet kitchen and a newly updated bathroom will lose its appeal when there's water leaking in the basement. The same is true when there are other general maintenance issues that are not properly addressed.
Essential components of the home like roof, windows, floor, and furnace all have a life span and have higher returns when replaced before due, especially for old homes.
You'll find that as much as buyers appreciate the touch of luxury in the kitchen and baths, they would rather have a home whose roof and windows have been recently upgraded, because that is one less worry and expense for them.
4. Outdoor Improvements. Your home’s exterior creates the first impression that draws the buyer inside the home, so make your curb appeal count.
Repainting your fence and porch railings will brighten the look of your landscape and will be considered in estimating your Incline Village home for sale’s value. Window boxes, porch planters and a new mailbox are all affordable upgrades that add value.
Siding adds to a property’s worth, especially if it is clean and well maintained.
Gardens and trees provide color, shade and privacy. Think of how stunning the front lawn will look, especially during fall or spring.
A deck is a relatively low risk addition with about a 78% return for composite and 87% for wood. You can also opt to include a cover or simply leave it open.
Fire pits and fireplaces are also great upgrades for your yards. There are plenty of fire pit options to choose from, ranging from inexpensive to expensive ones.
However, before you go make any upgrades to your Incline Village home for sale, remember to discuss with your real estate agent the appropriate upgrades you should make to your home.
Your upgrades will vary depending on the neighborhood you are located in.
