When you remodel, it can be tough to decide between what is trending and what will stand the test of time, and what will increase your home’s value and what is more of a want than a need. One thing for sure, making improvements to your home is always a good thing, but what is good for you if you continue to live there and what is wise for resale are two different things. Here are some surefire ways to improve on your investment and get the most return upon closing while at the same time improving your quality of life.
Now is the time to give your home some much-needed TLC outside. You would be surprised how many buyers turn away a perfectly great home because of the way a home looks from the outside. Here are a few easy fixes:
- Clean up your landscaping.
- Add a border to your flower gardens and shrubs.
- Add mulch or rocks to your flower beds.
- Get your driveway power washed.
- Fix any fences.
- Spruce up your mailbox.
- Paint your front door.
The best part is you will love driving up to your home and walking up to your front door, too!
If your outdoor space isn’t inviting for you, it won’t be inviting for potential buyers in the future. With so many nice spring, summer, and fall days in Michigan, you can really expand your family’s living space and increase your home’s value by sprucing up your patios and decks.
- Power wash them
- Add fragrant flowers and living things to give color and spark your olfactory system to make it more inviting and enjoyable
- Give your outdoor furniture a bath
- Add some fresh pillows and cushions to your existing outdoor furniture
- Create “rooms” outdoors by separating areas with furniture and purpose, like a reading area, a kitchen, and a corner for visiting with friends while enjoying a glass of lemonade
- Add a water feature like a fountain for a relaxing and meditative sound element
Focus on the nucleus of the home
On the inside of your home, the most bang for your buck and most utilized home improvement is going to be in the kitchen. For most families, this is the space utilized most often so it makes sense that it would be the place to focus your hard-earned dollars. For buyers, it is the space that is often the most important.
- Update the Hardware-replacing dated hardware can be a cost effective way to update an older kitchen.
- Replace that faucet-the lifespan of a faucet is shorter than most things in your kitchen and can be a focal point. Spend a little and get a faucet that makes a statement.
- Paint the walls-this little project can really brighten up your kitchen and give it new life without adding much cost.
- Upgrade appliances-this is a costly upgrade, but it can be a difference maker in selling your home and make your life easier, too.
- Upgrade cabinets-cabinets cover most of a kitchen, so if they are dated and worn, they can create a big eyesore and make the space displeasing. Consider this upgrade depending on your neighborhood, home value, and the potential return on investment.
Add that bathroom
This addition can be done fairly inexpensively if you have some DIY skills. And, the improvement it will make to your family’s quality of life will far outweigh any costs. Fights over time in the bathroom will be squashed (or at least minimized), and that additional bathroom will attract a lot of buyers in the future. Keep it simple: a small shower (use a ready made insert instead of tile), a sink, and a toilet and voila!
Add square footage
By finishing the basement, you can add valuable square footage: 1) so your family can spread out and breathe, 2) buyers will be more attracted to your home. Again, if you can DIY it, you can save a lot of money. Hanging sheetrock is a fairly easy task. You may want to outsource the taping and mudding and the electrical, but other than that, you can paint, lay down some carpet, and add simple light fixtures yourself to finish off the space. Of course, you can be as elaborate as you want by adding a second kitchen space for the mother-in-law, a bar for entertaining, another bedroom and bath so your kids can spread out.
Along with upping your resale value, some improvements to your home can provide you with a tax break as well, so make sure and ask a tax expert and track all your expenses before you decide what to improve upon.
Home improvements will likely raise your quality of life and certainly your resale value in most markets, so if you have been thinking about it for a long time, it just might be the time to do it. AND, before you decide on what improvements to make, also ask your local real estate expert at 616 REALTY. They know the market; they know buyers and what is important to them. Allow the team to help you make that tough decision on where to spend your hard-earned dollars that will not only make your home an oasis but will yield a high return on your investment.