At some point, your parents’ home may be too large for their needs, and it may be time to downsize. If it’s time to have “the talk” with your aging parent(s), read on for information
3 Renovations To Make Before You Sell Your Home
So, you’ve decided to put your house on the market. If you’re like most homeowners hoping to sell, you have two goals. You want to sell your house for the highest price possible, and you want to sell it quickly. In other words, you want to sell it high and sell it fast.
Many factors go into the sale of your home. The market, the neighborhood, your realtor, the competition, and more are all contributing factors to your final ticket price and how quickly buyers bite. However, you can increase your chances of selling quickly for a fair price by doing renovations.
You can do all sorts of renovations to entice buyers and to increase the ticket price on your home. The most important thing to consider is ROI (or return on investment). You want to ensure that every renovation you choose to do will result in a decent return on investment.
For instance, you don’t want to spend $50,000 getting an underground swimming pool built for it only to add $10,000 to your ticket price. Plus, pools can actually dissuade buyers from purchasing. Instead, you want to add items that will entice buyers and add a substantial amount to your ticket price before you sell.
So, what types of renovations are worth your time? Several renovations can pay off for you. Ultimately, it comes down to budget and goals. These three renovations are surefire places to increase value and entice buyers.
Here are three renovations to consider before you sell your home.
Renovation #1: New Kitchen Countertop
Remodeling the kitchen can increase your return by 87%. Realtors everywhere are quick to tell you that it’s the kitchen that truly sells a home. If you can’t commit to a complete kitchen makeover, start by renovating the countertop. The kitchen counter is the showstopper of the room. If you have an awe-inspiring counter, it will be much easier to sell your home to prospective buyers. Alternatively, if your countertop is dated, buyers will be less likely to bite.
Which type of countertop is best? There are several countertop materials from which to choose. Natural stone is a favorite for really wowing buyers, but it can come with some maintenance headaches. Quartz is a popular countertop choice that has all the benefits of natural stone without the maintenance and durability concerns. If quartz pricing is a problem, you can always upgrade with laminate, solid surface, or concrete instead.
Renovation #2: New Roof
Installing and renovating your roof has several benefits. If your roof is in disrepair, you’ll want to put this on top of the renovation priority list. A roof that’s in poor condition can decrease your home’s value and cause hang-ups with inspection. Moreover, a new roof can be a significant selling point for potential buyers.
Telling buyers that the roof is new means that it’s not anything they have to worry about for a while. Plus, statistics show that a new roof can increase resale value by around $12,000. There are so many options for redoing your roof that you’re sure to find one that’s within your renovation budget.
If you want to go for the most cost-effective option, you can go with asphalt shingles. If you want to add the most value, look at asphalt shingle alternatives, like vinyl shingles or solar shingles.
Renovation #3: New Trim
If you don’t want to do a significant upgrade, but you want to get a decent return, look no further than the trim. You can update the trim on the interior and exterior of the house and dramatically improve the appearance and ticket price for your home.
Whether you’re upgrading the decorative window trim outside, or the crown molding inside, the rule is the same. Go for subtlety. Trims aren’t something buyers consciously notice. Instead, crown molding and trim serve as wow-factors. They give your home a little extra oomph, and often the buyers don’t recognize why.
The bonus to this renovation is that it’s relatively cheap, and it’s easy enough to DIY.
Renovate Your Home Before You Sell
If you want to win over potential buyers and increase property value, these three renovations are fantastic places to start. Keep your budget in mind and consider ROI. As long as you stay focused on your goals, you’ll be able to find excited buyers at a fair price in no time.
Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.
My name is Jamie Taylor and I am the Owner and Principal Broker of Bluebird Realty here in Central Arkansas, serving all communities from Conway to Hot Springs! I started in the real estate field righ....