Your home will likely be one of, if not the largest investment of your life. You still however may have to invest more money into your home overtime. If you don’t keep your property updated it not only diminishes the value, but you could have a harder time selling when the need arises. On the other hand, if you spend too much, you may never see a return. Making updates is a necessity because many buyers don’t want a project and will often pay more for a home when certain updates have already been complete. Just what are those updates? We’ve put a list together for you to consider:
Landscaping – First impressions are everything! Not to mention most people don’t want to spend their free time or money on endless amounts of yard clean up and landscaping.
Flooring – Think about it, there’s nothing nastier that someone else’s dirty carpet.
Paint – Replace your bold choices with light, neutral colors to appeal to more homebuyers.
Kitchen – This one is tough because it can be one of the most expensive renovations and it’s an inconvenience for many families to be without the ability to use their kitchen space during the renovation but, your future buyer is thinking the same thing! If it comes down to your property and another one, buyers will almost always choose the one with the updated kitchen.
Bathrooms – Just like kitchens, this is one of those large ticket items that you will almost always see a return on.
The thing to be mindful of is the cost of the renovation materials relative to the value of the home. For example, renovating a bathroom to include a $10,000 shower system in a small starter home or home valued around $120,000 isn’t a good use of funds. Last, keep in mind sometimes an upgrade is less about the return on investment later and more about your enjoyment now. The best example of this is a pool. Items such as this can be seen as too time consuming or costly to maintain or even as too dangerous.
If you’re curious about the overall value of your home and where you should make improvements contact us today to schedule a complimentary market analysis. 715-828-0903 or SissyKnopps@gmail.com.