If you are selling your home and planning to renovate it, ask your Realtor first and consult a general contractor on what areas in your house that need renovations. Selling a house doesn’t always mean you need to renovate it. Depending on the current market state, renovations can yield the biggest return on investment or not. You will know how much work you need to spruce up your home by asking for a professional help and this will limit the risk of wasting your time, energy, and money.
Are you all up to renovate your house? Start with small things.
Minor aesthetic upgrades can launch you forward to getting more offers through the door for a quicker sale and the time your house spent on the market will determine your estimated net at closing.
So, where should you begin? Here are some areas for upgrades:
1. Walls and floors
You can enhance your house roughly at 15% more of asking price by painting the walls and replacing or refinishing the floors.
Remember, paint color matters. The 2016 trend that buyers go for are shades of gray. Of course, you can do it yourself and have some fun painting the walls but hiring a professional will get the best results. Consider a whole-house interior painting budget from $2,000 to $3,000.
If you are planning to get a new carpet, always consider the color. It should not compete with your wall paint so a neutral colored sturdy, builder-grade fiber carpet is the way to go. Most of the buyers prefer hardwood floors, they are quite pricey to install. You really need to consider this if you are tight on the budget. If you already have hardwood floors installed, refinishing them will bring back the gleam.
Some areas are into ceramic tile floors, there’s a less expensive and durable option called DuraCeramic. It is an engineered tile that mimics the look of ceramic without the high cost. Usually you can buy a square foot for less than $3.
What is the first and last thing that you will touch on a home visit? Answer, Doors! It makes an impression. This is backed up by a survey conducted in 2015 Cost vs Value Report by Remodeling magazine. According to the survey, replacing an existing front door with a new steel door boosted the net sale at 101.8% with a minimal replacement cost of about $1,230.
New garage door installation spiked up the return of resale at 88% and just an average of about $1,600 replacement cost. Yes, a new garage door has an impact on buyers, too.
3. Roof and siding
Replacing the old vinyl siding and adding a new roof will not only yield a high return of investment but also avoid the need to adjust the asking price later in the process. It’s great to have these things fixed before inspection and appraisal to reduce the likelihood of necessary fixes and stall your home before being listed on the market. Also, according to Cost vs Value Report survey, a new roof and sidings homeowners recouped 72% and 80% of the cost for the upgrades.
A trend that has been going on that entices the buyers is a modern kitchen. But first, hold back before doing an overhaul of your kitchen. Re-facing old cabinets with white ones, painting or buying a new cabinet pulls and installing modern sleek light fixtures are some of the low-cost upgrades that can make a major facelift of your kitchen. Just make your kitchen to sparkle and tidy to make it as eye-catching.
Another easy way to add value to your kitchen is to add new appliances. If you have the budget and want to go all out, about $10,000 can cover a whole-kitchen appliance replacement. The cost might be too heavy to shoulder, however, new stainless appliances make your kitchen more appealing to a wider range of buyers.
Depending on your kitchen layout, quite pricey, but a granite or quartz countertops are also in demand for buyers. Of course, simply installing a clean, white ceramic tile backsplash in order to create a visual appealing kitchen is a less pricey alternative.
Areas that goes last on your list to renovate?
If it is not broken, do not renovate it!
Decks, attics, or basements are areas of the house that mostly buyers prefer to remodel it themselves. Not to mention, they are quite heavy on the budget too.
According to Remodeling report, areas to avoid major renovations are home offices, bedrooms, and bathrooms.
Focus on having an appealing living room and gleam kitchen.