Increase Your Home’s Value with these Renovations

Selling your house? Whether you are moving, downsizing, or just planning ahead for ‘one day,’ it is important to consider renovations that will increase your home’s value. Certain renovations will help give your home a competitive edge over other properties and maximize your resale value. We’ll dive into the best remodeling projects to take on before putting your home on the market.
 
The first thing to think about before taking on renovations in your home is your neighborhood and the potential buyer. Realtor.com emphasizes the importance of consulting with a realtor and general contractor first to determine what projects will yield the biggest return on investment. These professionals will review your home’s value, the current market, and how it compares to other homes in the area before giving their recommendations.  
 
Kitchen + Bathrooms: Usually, the most advantageous projects to tackle are the kitchen and the master bathroom. In many cases, completely renovating a kitchen or bathroom can be quite costly, but home buyers will consider these rooms to be a ‘make it or break it’ above the rest of the house if they are really disastrous.   The Spruce has highlighted some specific projects in these areas that will give you the best bang for your buck.
  • Countertops – If the countertops in the bathroom or kitchen are worn or severely outdated, it could be a worthy investment to have them replaced with higher quality laminate, quartz, or other natural stone.
  • Cabinets – These cabinets should first and foremost function well and not look well-worn, so investing in new cabinet installation may be something to consider. If they are in good shape, it may bring more value to paint or reface them to pull together a more polished look.
  • Hardware – New cabinet fixtures and hardware can unify the whole kitchen/bathroom to look more complete. However, in a kitchen with many cabinets, replacing these pulls can quickly become pricey, so keep that in mind when setting your renovation budget.
 
 
Curb Appeal/Exterior/Landscape: Don’t forget the ultimate first impression is the exterior of the home! HGTV lists some renovations that bring a profitable return on investment and topping the list are landscaping, exterior surfaces, and overall curb appeal.
  • Landscaping – Fill your lawn with a variety of plants in different colors and heights to draw buyers in. You may also check with a local garden center to see if they offer design services or classes to help inspire your inner green thumb.
  • Paint exterior – Does your home’s exterior paint need to be refreshed? Remember that a gallon of paint covers about 400 square feet, which can make a big impact. Even if you have brick or stone, a pop of color on the front door can present a welcoming environment.
  • Curb appeal – Buyers tend to judge a book by its cover, so before they even enter, it is important to pay attention to details outside and keep your yard well manicured.
 
 
Refresh and Repair vs Replace: In order to avoid investing in major renovations that do not end up paying out, focus instead of refreshing and repairing around the house instead of completely replacing.
  • Paint – When selling, keep it neutral! If you have any bold or outdated paint colors, replace them with the more modern look of neutral greys and beiges. Plus, at such a low cost to freshen up, new paint can really be a great value.
  • Carpet and Flooring – get your carpets steamed and cleaned, and hire a professional to refinish hardwood floors to bring them back to their original look. It is important to note that handling hardwood floors may not be the best DIY project, as you can ruin the floor, so let the pros handle that one!
  • Appearance over function – finally, one more important reminder from The Spruce is that “home remodeling in order to sell is different from remodeling to improve your quality of life.” The emphasis here is appearance over function. The water heater might be in need of replacing soon, but visually impressive flooring may make all the difference to potential buyers.
 
 
If you are selling to move into a new home, consider taking out your next mortgage with us at United Credit Union. As you plan for remodels or a new home, you may want to set up a new savings account to be more financially prepared.  We also have tools available to our valued customers like this mortgage calculator, to help ease the guesswork out of your next stage of life! If you have any questions, give us a call at 903-595-3604, and our team would be happy to assist you!
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