When you are thinking about selling your home, you want to get as much money as possible. Naturally, your first thoughts are about home improvements. What can you fix or remodel to make your home more appealing and still realize a nice profit? Better yet, what renovations will bring the most profits?
Buyers looking for a used house don't expect it to be brand-new. In fact, they look for flaws they can point out during price negotiations. So when you’re deciding which renovations will increase the value of your home without costing more than you stand to gain, think like a buyer and not like a seller. Is it more important to have beautiful hardwood floors or would you rather have a new heating and cooling system?
1. The Kitchen
A complete kitchen remodel can cost a small fortune. Plus, you run the risk of creating a beautiful kitchen to suit your tastes, which could be totally opposite of what potential buyers are looking for. The kitchen is often considered the heart of the home and very personal. However, new appliances can dramatically increase the value of your home, without breaking the bank or turning buyers away. A small upgrade and some sleek, top-of-the-line appliances could be all you need.
2. The Bathroom
People spend a lot of time in the bathroom. You want this room to be a nice, welcoming and extremely functional. The vanity, toilet, tub and shower should all be in perfect working order and look great – no nicks, cracks, rust stains or any other visible damage. A complete bathroom renovation costs roughly $35,000, with a typical return of about 57%. However, with a little careful shopping and extra elbow grease, you can cut costs without sacrificing value, thereby increasing your profits and still providing the new owners with a great new bathroom.
3. Windows
Windows are a huge expense, but every homeowner knows they pay for themselves in the long run. Good quality windows keep the cold out in the winter and the heat out in the summer. Over time, the energy you save is more than worth the cost. As a seller, you can expect to pay about $15,000 to replace the main windows for a return of about $11,000 – or more – but, the look, value and marketability it adds to the house is immeasurable.
4. Master Bedroom
Master suite renovations are estimated at around $150,000, but that doesn't make them any less popular. That price sounds astronomical and can probably be cut down to less than half. With a little creativity, you can renovate this room for at reasonable cost and still reap a nice profit on the final sale.
5. The Basement or the Attic
One of the toughest decisions is whether to renovate the basement or the attic. The answer depends on which space is more accessible and more likely to be used. In most homes the answer is the basement. Some have very low ceilings, but they are usually the best choice. A finished basement adds huge value to your home.
Don't forget smaller, cheaper jobs, like upgrading the insulation. Adding value to your home can be simple and inexpensive, yet add several thousands of dollars to the final selling price.
At Handyman Connection of Pasadena we have provided the Los Angeles, Pasadena, Arcadia and Surrounding Areas with a high specialized remodeling and restoration services for over a decade. Give us a call today at 626-744-0402 for all your home remodeling needs.