Most sellers want the same thing: to get the most possible money for their home when they sell. To do this, many sellers consider making some updates and improvements to their home to increase its value. This can be very smart (and profitable)… if you know which updates to make, and just as importantly, which to forego. So, which are worth the time and money?
The 6 Best Home Improvements for Adding Value
What defines a worthwhile home improvement? A good improvement is one that increases your home value for more money than you spent on the update. Think: simple, low-cost, high-visibility. Another way to define a good home improvement, however, is one that will increase your overall enjoyment of your home (especially if you don’t plan to sell right away).
Here are some of the best home improvements for your wallet.
Minor Bathroom Remodel or Update
The key to making this work is keeping your remodel minor, like a new tub, new caulking, or new paint. Replacing an old or small vanity is another fairly cost-effective DIY update.
Actually, as long as you aren’t changing any walls or locations of plumbing fixtures, you can replace most of your bathroom’s features without too much trouble or expense. It’s a little work, but it goes a LONG way.
Landscaping Updates
Here’s another fairly simple DIY addition that requires small investments and a little elbow grease for big results. Start with simple things, like trimming, mowing, weeding, and reseeding your lawn.
If your gardens are tired or your lawn needs some color, consider making a trip to your local gardening store or Home Depot for some fresh flowers. Need gardening tips? Your gardening center can likely offer some.
Minor Kitchen Remodel
As with the bathroom, the key to this remodel is keeping things simple—no knocking down walls or counters, no relocating the stove or fridge. Keeping major fixtures in place, consider small-cost big-difference improvements, like painting or refacing cabinets, replacing countertops, or replacing old flooring.
For really easy improvements, swap out your old sink fixtures and the hardware on your cabinets.
New Vinyl Siding
Before a buyer will come inside to admire your glossy new kitchen countertops, they’ve got to be impressed by what they see on the outside. And let’s face it—your tired old wood siding probably isn’t doing that. Instead, consider replacing it with vinyl siding for a major facelift.
Can’t afford to spring for new siding? Some paint or even powerwashing can work wonders for an old home.
Old Space Reinvented
Adding a room to your home can be incredibly expensive—and isn’t usually worth the investment. Instead, consider how you can reinvent current space in your home into more purposeful real estate.
For example, you could finish a basement or attic, or even transform an old office or flex room into an additional bedroom or a nifty game room. Remember, when selling, it’s all about how you present the space you have!
Energy-Efficient Updates
“Going green” isn’t just a trendy new homebuying craze—it’s also a great way to save money on your monthly utility bills. It can be as simple as replacing old incandescent bulbs with modern LED lights or as big-picture as adding solar panels.
New insulation and energy-efficient windows can yield some BIG savings (and may even bring you a nice tax credit, too). Other options include low-flow faucets and toilets, Energy Star appliances, and new HVAC systems.
The Worst Home Improvements for Sellers
Are you making updates to your home strictly because you want to sell your home for more (and not because you want to enjoy new home features)? You’ll want to make sure you steer clear of these costly and time-consuming projects:
- Major kitchen remodel
- Major bathroom remodel or addition
- Bedroom addition
- Anything involving drastically changing the floorplan or adding square footage
Remodeling to Sell in Baltimore or Crofton?
Are you thinking of selling your Crofton or Baltimore area home? Then it’s time to contact me, Kyle McCarthy. I’d love to help you price your home, get it looking fantastic, and sell it for top dollar… without all the hassle.