Whether selling a home, planning renovations or looking to buy, it’s smart to know which upgrades are worthwhile.
If selling, smart upgrades can be the difference between boosting the sales price a few extra thousand dollars or wasting precious pennies that could go into a new home. When house hunting, being able to spot a hidden gem that just needs some TLC can save you money while also giving you an opportunity to earn equity after closing.
If you’re in the market, here are some ways to get a higher return on your property investment.
1. Front Door Replacement
Replacing a builder grade door with a steel door not only boosts the curb appeal of your home, but also offers financial rewards. A steel door can reduce draftiness and cold spots, saving you money on electricity every month. Depending on the door you choose, it’s possible to also increase your home’s security with multi-point locking and other protection features.
2. Minor Kitchen and Bathroom Remodels
For kitchens and bathrooms that lean towards the “dated” side, a minor makeover is worthwhile. New counters and flooring, stainless steel energy efficient appliances, and a mid-priced sink and faucet can go a long way.
3. Deck Addition
One of the top perks of home ownership is having private outdoor space. Adding a deck is a smart addition to gain extra living square footage. When it comes time to sell, it also helps prospective buyers visualize living in their new space.
First impressions are important, and the outside of your home is the first thing a buyer sees. Tasteful landscaping, power washing siding, and fresh paint can all help a house look more inviting.
Whether you’re selling a home or renovating for personal use, consider which improvements are necessary, and which will give you the highest return. Consult a real estate professional to find out what most buyers are looking for, and to see how your home measures up to the rest of the neighborhood.
I’d love to be your resource for all things real estate and would be happy to provide a free price estimate for your current home.