Saturday, 23 February 2019
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This Old House - Do-it-Yourself

Investing in Upgrades That Add to Your Home's Final Sale Price

Written by Posted On Tuesday, 12 February 2019 12:37

Are you investing in upgrades that will one day add to your home’s final sale price?

Whether you’ll need to sell your house in the near future or at some date far down the road, the day will come when you list your home for sale. Your home is the single most substantial investment you’ll likely ever make.

It’s uncomfortable for some people to consider their place refuge as an “investment.” But, if you are not looking towards the long-term, you are making a mistake.

It doesn’t matter if you’re building a brand new home or remodeling an older home, you should always keep your eye on that far away prize—the highest final sale price you can elicit from a buyer.

But how?

I reached out to the home build and remodel design experts at Greystone Homes in Midland, MI for some expert advice. Here are the pro tips they shared with me.

Great Floorplan

When it comes to laying out a floorplan, you don’t want one that’s merely good—you want one that’s great!

Over the past two decades, homebuyers have preferred spacious, uncluttered, open floor plans. This layout is optimal for both entertaining guests and settling in for a night with the family.

Are you remodeling an older home? Work with your contractor to remove walls and open up the space. If that’s genuinely not an option, choose light neutral colors and uncluttered décor to please the eye.

Luxurious Master Bath

A “nice-sized bathroom,” once the standard is no longer palatable to homeowners. They expect far more!

Buyers today demand a spacious master bathroom, especially if you live in a family neighborhood. Beyond desiring a massive master bath, they want luxurious touches. Standard items on buyer wish lists include double bowl sinks, stunning and functional lighting, ample storage, and hand-tiled showers.

Discuss these options with your builder or remodeling contractor, and he can guide you on the most current trends in bathroom designs.

If you can deliver these appointments, you’ll be on the track to selling your home quickly, even in a buyers’ market.

Stylish, Functional Kitchen Design

Another trend that remains firmly in place is a must-have is a stylish, functional kitchen design.  Of course, kitchens are the central gathering place of any house. However, today’s homeowners want their kitchens also to make an impactful impression.

What are some of the kitchen amenities that can drive up your home’s selling price?

  • Granite countertops
  • Tall cabinets that cut wasted space
  • An island for dining, prep space, and storage
  • Hardwood, marble, or tiled flooring
  • Great windows to capture the daylight
  • Task lighting under the counters
  • Smart appliances that save energy and allow remote functionality

Work with your contractor. He’s a local expert who knows what other homeowners have recently chosen. He can keep you abreast of the latest trends.

Exterior Upgrades

While homebuyers will be initially impacted by the interior of your home, they will also look to the exterior for upgrades that add curb appeal to your home.

That makes perfect sense, as some exterior projects cost thousands of dollars—more than a new homeowner wants typically to absorb.

Three of the upgrades that pay off in the long-term are:

  • -Replacement roof
  • -Energy-efficient replacement windows
  • -Attractive landscaping and gardens

Investing in these upgrades makes sense. Many people who are browsing for homes first search online and look at photos. When the listing agent comes to snap those pictures, these upgrades will allow your home to appear pristine. Then, once the buyers do their requisite “drive by,” they will be even more impressed.

Remember, the exterior curb appeal is what makes buyers decide whether it’s worth the time to step foot inside.

Energy Saving Features

When prospective buyers are considering investing in a new house, they are looking at a range of factors. Sure, they primarily look at the home’s total cost and the monthly mortgage payment. However, they will also consider the anticipated monthly out-of-pocket costs.

New homeowners don’t want to purchase a home that will cost them an exorbitant amount of money on utility payments. For those on the tightest budgets, that can be a deal-breaker.

In addition to the replacement windows and new roof we previously mentioned (and which offer significant savings by reducing heating and cooling costs), here are a few other energy savers that are wise investments:

  • -Upgraded insulation
  • -Programmable thermostat
  • -Storm doors
  • -Low-flow showers and toilets
  • -EnergyStar® rated appliances
  • -LED Lighting.

The money invested in these efficiencies can be a win whether you are selling now or later. You will enjoy the reduction in your monthly expenditures until it’s time to list the house. Then, when it’s time to sell, your buyer will be assured of well-controlled expenses.

The Takeaway

As you invest in a new build or a home remodel, keep in mind that you will eventually become a home seller. Your goal will be to yield the highest final sale price that the market will bear. Increase your odds of scoring big when that time comes by spending your money wisely now.

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Deborah Tayloe

I'm a full-time freelancer and blogger with a particular interest in all things real estate. From writing blog posts that attract organic traffic into leads to writing newsletters that help realtors connect to the community, I'm here to help. 

Need a blog or guest post on the fly? Check out my inventory of Articles on Demand. Here, you can instantly purchase and download SEO-optimized articles and publish them in record time.

I grew up in construction and real estate. Both of my grandfathers were general contractors and custom home builders. My first job? Picking up nails off the ground at my grandfather's job site for a penny each. Additionally, my mom worked for several years as a successful real estate agent. 

Finally, I publish the blog DIY Home & Garden where I share tips and tricks on all things relevant to the home and garden. 

https://www.wordinnovations.com
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