In today’s time, the real estate market is booming more than ever. But even during such favorable conditions, it’s best to take up some home improvement projects before finally making your house open to the market. The reason is that these touch-ups can help increase the selling price of your house.
As the 2019 survey says, almost 23% of the homeowners who made at least one major home improvement in their house could sell their house at a better price than 17% of others.
However, taking up a home improvement project doesn’t mean that you should break your bank in this process. You must be vigilant about your investments and only take up those upgrade tasks that can give a substantial return on investment. That being said, a little bit of sprucing up on your home can provide immense benefits if you’re truly smart about it.
Because depending on the type of renovations you take up, you can increase your home’s price by up to 20% compared to the market rate. So, some of the best home improvement projects that can help make your house sell faster are:
1. Kitchen upgrades
The kitchen is often the center of a lively home, where every family member gathers around for breakfast and chitchats. For this reason, a renovated kitchen can serve as the focal point to impress buyers. The reason is that buyers mostly focus on the kitchen when deciding on the type of house they would like to buy.
An updated and modern kitchen would surely entice the buyers as they won’t have to remodel it later. Therefore, ensure that your kitchen is in good shape and free from any water damage. Otherwise, these damages will chase the buyers away. What’s more, water damage statistics show that an upgraded kitchen with fewer water damages, like drips and broken pipes, significantly lowers your bills.
Typically, a small kitchen improvement project can give you an ROI of 77.6%. In contrast, a large-scale remodeling project can give you returns of up to 58%. Therefore, you must be strategic about the type of improvement project you take up.
These small projects include painting the kitchen, installing new countertops, changing the hardware, fixtures, etc. These minor home improvement projects will recoup a larger chunk of your investment when your house sells. Moreover, consider getting new appliances for the kitchen if your budget allows it because an upgraded kitchen improves your home’s value tremendously.
2. Bathroom upgrades
Contrary to what most homeowners do, you don’t have to drastically remodel your bathroom to add value to your home’s selling price. Simple upgrades such as fresh paint, new flooring, changing the fixtures and hardware can help you increase your house’s value. However, if you’re considering a major remodel, ensure that your master bedrooms have connected bathrooms.
Connected bathrooms have the highest rate of getting you a return on your value compared to other bathrooms. Therefore, as a major remodeling project, you can change the interior structure of your home to ensure that the bathroom is connected to the master bedroom.
3. Refinish or install hardwood floors
When it comes to aesthetic appeal, hardwood floors happen to be one of the most popular choices for home buyers. They have been in trend for many years, and their value is unlikely to fade over time. Hence, if you want a major upgrade to your home that can help increase its resale value, then it is time to install hardwood floors or work on the existing ones.
This upgrade is particularly essential if you have pets in the house. The carpet can get dirty and dingy over time because of your furry friends. Instead of carpets, it is better to have a hardwood floor. In contrast, if you already have a hardwood floor, then it is best to give it some refinishing touches, such as repolishing it.
4. Paint your house
Painting your home is by far the least expensive yet most effective home improvement that can help your house sell faster. The reason is that clean and freshly painted walls add great value to your home.
Moreover, you can do the painting job yourself and save the cost of labor. Paint is an inexpensive upgrade compared to other upgrades where you have to buy things and pay for labor to install them.
When repainting any room, we recommend sticking to neutral tones of color, which can appeal to every buyer. The reason is that neutral tones go well with interior decorations and furniture. As a result, the new buyers won’t have to worry about the paint clashing with their furniture and decorations.
Moreover, paint helps illuminate the natural light in your house and shows the beauty of the interior. Besides painting your walls, consider applying a fresh coat of paint on the windows, molding, and trimming to make the house look fresh.
Conclusion
Indeed, it can be challenging to keep your house up-to-date, given the current state of the economy. However, these home improvement projects are long-lasting and promise the most return on investment. What’s more, you don’t need labor to do most of the work.
Apart from installing flooring, carpet, cabinets, fixing water damages, you can do most of the things yourself. But even the smallest home improvement project will drastically determine your house’s resale value. Therefore, make smart choices in every aspect, examine your house, and get on with the home improvement tasks.
Eventually, you’ll reap the benefits of making all these changes once you sell the house.
