The question that is on every homeowner’s mind before they begin a renovation to hopefully improve make their home more appealing for sale: Will the renovation pay off? In today’s market, this question and undertaking may even determine if the house will sell or not. There are many things that potential homebuyers are looking for, and improving curb appeal and interiors is a great way to start. Here is a short list of some renovations to help you start getting some returns on your house before you decide to sell.
Turn Your Attic into a Bedroom
A great way to renovate your home to make it more appealing for homebuyers is to turn your attic into a bedroom and increasing the amount of square footage of your home. Why would someone want to buy a house with a dusty old attic when instead they could have another functional bedroom? It’s been shown that those who renovated and made their attic into a bedroom got a return of around 83 percent when they sold the house. Usually the renovation can be a bit pricier, but if you spread it out over a few years, it can help keep the cost down.
Update the Kitchen
Kitchens are one of the first things that potential homebuyers look at and it your kitchen is not up to date, the homebuyers will be less likely to purchase. The best way to improve and update any kitchen to make it more appealing to buyers is to remodel it, but many people don’t have the money or resources to take such drastic measures to improve the space. You also have to consider how much your home is worth and not go overboard on spending. A good alternative to make your home more appealing is replacing the small things such as drawer pulls, facets, and maybe even repainting the walls or cabinets. Another good way to improve a space is to improve appliances and installing new lighting fixtures. All of these relatively small renovations will make your home look new and improved, and can increase the likelihood of you selling it.
Add a Wood Deck
If you have room in the backyard to build, make a wood deck. It has been shown that most homeowners that added a wooden deck to their property got a return of nearly 81 percent of the cost when they sold the home. It will not only improve the look of your home, but it will also make more home more appealing to potential homebuyers. Who wouldn’t want a deck to lounge on in the summer and have BBQ’s? Also, building a wood deck can be a great DIY project to help you save money if you have the background for it, or you can get it professionally installed.
Home Repairs
One significant change that you can make to your house to make it ready to sell is to fix any home repairs that you are able to, such as fixing any water leaks in the house. You can save so much money while you wait for your home to be sold by just fixing any leaks that you have in the house including in the faucets, showerheads, or pipes. Research shows that household leaks waste more than 1 trillion gallons of water per year nationwide. Fixing leaks or replacing showerheads is a great way to reduce the water consumption of your house and making it a better investment for potential buyers.
Tim Richmond writes about the many aspects and issues that can arise around and within communities and homes. He currently writes for the Native American mortgage specialists 1st Tribal Lending and enjoys reading about home renovations and real estate opportunities.
