If you’re planning to sell your home, you need to make sure that it is in its top form to get the most out of it. You may also want to consider doing a few home improvements before you have it listed. However, you need to determine which updates and upgrades are worth it and which ones are not.
5 Great Remodeling Ideas for Your Home
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Kitchen Remodeling
Since the kitchen is widely considered the heart of every home and the center of activities, giving your kitchen some good love and attention will pay off well. According to HGTV, kitchen remodeling projects typically recoup anywhere between 60% to 120% of your investment as long as you don’t go all out.
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Bathroom Addition
Check out if you have areas in your home that are underutilized such as extra closet space or the space under the stairs. You can easily convert these unused spaces into an additional bathroom or powder room. Expect to get around 80% to 130% of your investment when for each additional bathroom.
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Bedroom Addition
Adding another bedroom to your home is a great way of adding value, marketability, and profitability to your property. There is a thriving market for houses with plenty of bedrooms, especially young families or couples who are looking to start a family. Creating another bedroom to add on to your existing bedrooms can be financially rewarding. Just make sure your project meets all the local building code’s requirements for bedroom construction.
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Create More Space
You may own a large house but if it still feels cramped inside, you may not get as much for it when you make your home available on the market. Visual space, or how big your home feels, is as important as square footage. Consider breaking down walls, changing the room’s paint job, adding mirrors, and similar tactics to make your home feel as large as it is.
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Install Energy-Efficient Windows
Nowadays, a lot of buyers are looking for homes that have energy-efficient features. These features allow them to not just save up on energy consumption but on money as well. Installing energy-efficient windows can give you a 60% to 90% ROI.
5 Not-So-Great Home Upgrade Ideas If You’re Selling Your House
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In-Ground Pool
If your home already has a pool when you bought it, it already has a great appeal especially for families with bigger kids. However, if you think that adding a pool to your property can greatly increase its profitability, think again.
For buyers with smaller children, it may prove to be high-risk for them when it comes to their children’s safety. Maintaining a pool is also another concern. You need to think about muriatic acid alternatives for pools to ensure that it’s safe for everyone to use.
Since building a pool will only recoup about 30% to 50% of your investment, this is something worth giving careful thought to.
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Extravagant Landscaping
A home’s curb appeal does add greatly to its marketability but an extravagant and expensive landscaping job isn’t a guarantee that your property’s value will shoot up and get bumped into another price category.
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Sunroom
A sunroom is a great place to have in any home as it provides an alternative area to hang out and get some R&R. But adding one where there was none doesn’t necessarily mean it will give you a good return on investment. At best, you can only get back about 49% to 59% of your initial investment.
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High-End Gourmet Kitchen
Kitchen remodelings are always a winner when it comes to increasing your home’s value. However, you don’t need to go overboard with it. Some minor remodeling jobs will do, such as repaints, changing of fixtures, and replacement or addition of a backsplash.
It will depend on the type of neighborhood you’re in. A high-end gourmet kitchen may be out-of-place (and out-of-range budget-wise) in a typical suburban neighborhood. Even if you’re living in an upscale area, you will still not recoup your entire investment when you sell your home.
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Whirlpool Bath
Capping your day off in a whirlpool bath may seem relaxing and fun, but if you think that installing one will make it more marketable to buyers, you may end up disappointed since most of them are not willing to pay extra for it. They also have to consider energy consumption and monthly maintenance.
When it comes to home improvements for the sake of selling your home at a better price, you need to give careful thought to the projects you will take on. Make sure to consult with a professional or an expert to make better decisions.
