If you’re thinking of selling your house, it might be a good idea to do renovations beforehand. A little bit of home improvement can go a long way, especially when talking about resale value. The problem is that with the market being down, some home improvements can actually devalue your home. So which improvements are safe to make and which ones aren’t?
Remodeling The Kitchen
With the kitchen being practically the most important room in the house, it makes sense that renovating it would increase the value. Just be careful not to go overboard, as that can mess up your plans to increase the value. A good tip to follow is to never make your kitchen look nicer than the rest of the house, or even the neighborhood if you can help it. A good reason for this is for the simple fact that renovating your kitchen too much might not make it feel like it fits in with the rest of the house. Remodeling your kitchen can tend to give you a 100 return of the cost, if not more when selling.
Add A Deck
Outdoor living spaces have become pretty big in Real Estate as of late. By adding a deck to your yard, you’ll immediately make your back yard more appealing and likely be able to make a large amount of the cost back. The cost of the deck itself will likely vary depending on a few things such as size and extra added accessories for it. You can even save yourself some money and build the deck yourself if you have the skills and equipment required.
Surprisingly, a lot of houses only have one bathroom. Adding a second one is a surefire way to add to the resale value. Look around your house and see which rooms you don’t need, or if there are any underutilized spaces you could repurpose into a bathroom. Think about if you want a tub or shower in the second bathroom, or if you just need a sink and toilet. What you want in the second bathroom can make a big difference in cost and size.
Reimagine a Room
Since adding a whole new room to a house can be extremely expensive, a better option is to try reimagining an already existing room. A great way to do this is to finish a basement or turn the attic into a bedroom. Oftentimes basements are just used for storage and laundry, but if you have a big enough one you can make a whole living area out of it. Before you make any big changes though, try to put yourself in potential buyer’s shoes and think about what they might be able to use the space for. That can help you get a better idea of how to handle the re-imagining, so you can get as much value out of it as possible.
There are so many great renovations that can increase the resale value of your house. It’s important to do the research before making any big decisions though, as that can help you get a better idea of what is and isn’t worth it.