A lot of sacrifice and hard work goes into owning a home, so when it comes time to sell, you want to get a good return on your investment. However, not every prospective buyer or tenant will feel the same way about those candy-apple red cabinets as you do. In fact, bold design choices can end up being very polarizing and put buyers off your home.
So, when you’re planning on undertaking a renovation, the goal should always be to make your home an irresistible option for prospective buyers. To do that, there are some tried-and-tested home improvement projects you can do that will help you fetch a higher asking price and close faster.
Get advice from experts
The property market is currently very unpredictable and inflation rates are driving property prices higher than normal. So, if you are planning to make renovations, you don’t want to overcapitalize and end up losing money. You should talk to a local property expert to get a gauge of exactly what buyers in the area are looking for to make improvements that will impress potential buyers.
Create curb appeal
One of the most sure-fire ways to increase the value of your property is investing in formal landscaping. Homes with landscaped gardens fetch prices that are between 5.5-12.7% higher than those without. Your front yard and entrance are a prospective buyer’s first impression of your home, so hire a professional landscaper and make the entrance to your home welcoming.
Choose a neutral palette
You may love color, but most home buyers today prefer a blank slate to put their own personal touch on the home. It can be very off-putting and overwhelming for buyers who are bombarded with new floral wallpaper or colorful walls in every room they step into. Before listing, repaint the interior of your home in a neutral palette of whites, greys, or beiges which cater to almost everyone’s tastes.
Update kitchens and bathrooms
You’ll always hear people chiming in with the old adage that kitchens and bathrooms sell houses… and they’re not wrong! Kitchens and bathrooms can be one of the most expensive things to update in a home so buyers already paying a premium for your home will not want to have to undertake any of their own renovation projects on closing. Again, neutral kitchens and bathrooms will always outshine the quirky designs of yesteryear.
Upgrade your flooring
Linoleum and carpeting are both very dated floor coverings and buyers with small children or pets will want something easy to maintain. Laminate flooring is relatively inexpensive and easy to install, instantly giving a tired space the lift it needs. They make laminate so well nowadays that it’s hard to tell sometimes whether it’s real wood or engineered.
Add a sunroom
Enclosed patios and sunrooms have become highly sought after, probably due to the fact that the pandemic has forced people to spend more time at home. Sunrooms offer an additional covered area that can be used as an indoor-outdoor entertainment area, study or playroom for children.
Tidy up
You want to make a good impression on prospective buyers, and they want to be able to get a real feel for the space. This is difficult to do if your home is very cluttered and disorganized. A buyer should be able to see the value in your home, its overall condition and visualizes the furniture in the space. If you’ve got every inch of the walls and floors covered, it’s hard for them to assess the integrity of the home… they may also wonder what you’re trying to cover up with all the clutter.
Appeal to the masses
Scandinavian styling has topped the lists for years as one of the most coveted looks people try recreating in their homes. This is largely due to the style bringing an eclectic mix of minimalism, light and warmth into a home all at once. If you stage your home in a style that appeals to the masses, you won’t risk chasing them away with a dated look like Provence.
Final takeaway
If you take your time to carefully plan your home improvements and focus on ones that add real value, you can ensure you maximize your ROI and sell your home in record time, despite a volatile housing market.
