If you’re planning to put your home up for sale, you would want to make as much money as you can from the transaction. However, if your property is looking a little worse for wear, you may have to settle for far less than you might wish for. In fact, you could lose money if you sell a home in a sorry state.
Like they say, you need to spend money to make money, which means you have to repair, replace or retrofit the features of your home that require updating before you list it on the market.
To help you out, here are 7 of the best remodeling/renovation projects that add the most value to your home, along with the return on investment you can expect from them.
- Roof replacement
The condition of your roof should be one of your biggest renovation priorities because it’s one of the first things that potential buyers notice. You need to ensure that your roof looks and functions like new. Having a contractor repair or replace your roof can mean a significant improvement to your home’s curb appeal, and consequently, its market value.
- Plumbing and electrical repairs
Plumbing and electrical systems must conform to current local and national codes. Have your systems checked by a certified technician and then bring it up to code.
- Window replacement
Window replacement does not only enhance your home’s visual appeal, it can also improve energy efficiency. Old single-pane windows are a major turn-off for today’s homebuyers because they perform poorly at maintaining indoor temperatures. Get a contractor to replace them with the new energy-efficient windows.
- Front door replacement
Just like your roof, your front door is one of the first home features that buyers lay their eyes on. In addition to enhancing a home’s aesthetic appeal, a new front door can improve energy efficiency and security. You may be tempted to replace the door by yourself, but unless you have experience, it’s best to leave the installation to a pro.
- Bathroom addition
One bathroom is hardly practical for most families. Have another one built, and your investment could pay off handsomely. Look for underutilized spaces or extra rooms where your new bathroom can go, and have a contractor check if it’s feasible.
- Kitchen update
Widely touted to be the heart of the home, the kitchen deserves your special attention if you want to attract as many buyers as possible. Make sure your updated kitchen has ample storage space, room to maneuver, and well-organized work areas.
- Siding replacement
For many buyers, curb appeal is just as important a consideration as any. Replace your worn-out siding—along with your roof, windows, and front door—and make your home look completely brand new from the outside.
Planning to sell your home? An experienced real estate firm like The Stacy Esser Group can help. Let our years of experience in the real estate industry work for you. Call 917.621.6794 or email stacy(at)stacyesser(dotted)com for a home evaluation.