If you are thinking about selling your home in the near future, you are probably wondering what you can do to get the highest return on your real estate investment. Before tackling random home improvement projects in hopes that they might increase the value of your home, why not do some research to see which projects will actually help the most? Not all home improvement projects will give you a great return on investment. Focus on the ones that will make a difference to homebuyers and help you create demand for your house. The projects we suggest for home improvement include:
- Kitchen—The kitchen is truly the heart of the home and it is the area that matters most to homebuyers. You don’t have to break the bank to update here. Even simple updates like new paint on the cabinets or adding a trendy backsplash will help. Another easy fix that will go a long way is to upgrade your kitchen appliances.
- Bathrooms—Second to the kitchen, homebuyers care about bathrooms. The most important fixes here are making sure the toilet is not dated, replace your faucets, and consider changing the lighting to wall mounts instead of overhead lighting.
- Floors & Paint—A mostly cosmetic update, painting the walls in your home and replacing carpet (or other flooring that may need it) makes the entire home feel fresh and new.
- Energy Efficient—Homeowners don’t want to see money go down the drain by paying more for utilities simply because the home is not energy efficient. If you can tout energy efficient windows or great R-value insulation, you can catch the attention of many homebuyers.
- Open Floor Plan—Today’s homebuyers love the idea of an open floor plan. If your home does not have a nice open flow, think about what you can do to make it more open.
- Curb Appeal—You might not think the exterior of your home really makes a huge difference, but it does! When a potential buyer drives up, the first impression they will get is what they see from the curb. So, your landscaping and exterior really can make or break a sale. Consider updating your garage door or entry door, and make sure your landscaping is well-manicured.