Upgrades, repairs and renovations can help a home sell faster, but which ones should you focus on? These six upgrades will attract buyers and help you seal the deal. A guide to everything you need to know about underfloor heating.
1. Energy Efficiency
Sometimes, it’s the upgrades that buyers can’t see that are the most attractive. According to a survey from Remodeling.com, homeowners can recoup 116% of the costs of attic insulation – and this is just one of the many energy-efficiency upgrades you can do.
Upgrading your water heaters, HVAC systems and windows will appeal to buyers, as they know they’ll save money on their energy bills each month. It's an upgrade that will keep on giving.
If you have an older home, it may be time to upgrade your furnace anyway.
“Older furnaces can still run well, but they may need more servicing or maintenance to keep them in top shape,” says Intelligent Service.
2. Kitchen Remodel
Buyers want a home with an upgraded kitchen. Kitchens are the “heart of the home,” so it makes sense to focus on this key area of the house.
An impressive kitchen can mean the difference between an average offer and asking price. Studies have shown that 80% of homebuyers say the kitchen is their favorite room. Buyers are more willing to forgive other outdated areas if you have an upgraded kitchen.
And you don’t have to spend a fortune on this upgrade. Research has shown that a minor remodel can provide an 87% return.
3. Bathroom Remodel
An outdated bathroom can turn buyers away. Bathrooms are the second selling point of a home. In fact, studies have shown that a bathroom remodel offers a 102% return on investment.
Like with the kitchen, you don’t have to spend a fortune on these upgrades. Simply re-grouting the tile, replacing caulk and replacing the toilet can make a world of difference in the look and feel of the bathroom.
4. New Flooring
Your home’s flooring is one of the first things buyers see when they walk through the door. Freshly updated floors can impress buyers, while outdated and dingy flooring can turn buyers away.
Buyers place a premium on hardwood floors. When done correctly, hardwood floors can add 2.5% value to your home, but the installation of this type of flooring can be costly. However, homeowners can typically recoup 70%-80% of those costs when it comes time to sell the home.
5. Lighting
A bright, well-lit home is more attractive to buyers. Light makes the home more inviting and cozier.
Install lights in darker rooms and add accent lighting to common areas, like the living room.
Upgrading your home’s lighting is relatively inexpensive and can provide a great return.
6. Landscaping
Experts say that landscaping is the most profitable upgrade a homeowner can make. You have one chance to make a good impression with buyers, and your home’s exterior is the first thing they will see.
Making changes to your home’s exterior doesn’t have to be costly, and in many cases, you can improve your home’s landscaping yourself by planting flowers and tidying up the yard. Research has shown that you’ll get more than a 100% return on your investment for money spent on landscaping.
Painting the home’s exterior can also improve its value. This is an upgrade that will cost less than $200.