As a homeowner, you will need to make sure your property builds value so you can sell it at a higher price and fuel your next purchase. No matter how many years you have stayed in your current home, you need to focus on improvements that can nudge up the resale price and, at the same time, provide maximum benefits to you and your family. Here’s a quick guide of some of the best improvements you can pursue.
1. Upgrade the Kitchen
When it comes to raising your home’s resale value, you can never go wrong with a kitchen renovation. This enhancement makes it more likely for homebuyers to place an offer within your asking range, but only when the right upgrades are present.
For your kitchen to contribute to an uptick in your home’s resale value, consider adding extra storage units. Adding cabinets and drawers that seamlessly blend with larger fixtures like the countertop can make for a cleaner look that is sure to get buyers interested.
You can go a step further by adding smart storage solutions such as vertical dividers and a flush lid for waste. Other than that, you can also swap your kitchen window with a vinyl replacement window, which is more affordable, easier to clean, and allows for a more modern look.
2. Give Your Bathroom a Boost
Aside from the kitchen, buyers are likely to place a good offer on your home if it has a modern bathroom that balances design and functionality. You only need to make sure the improvements you’re opting for fit your budget.
Affordable enhancements that generate an impressive ROI include water-efficient fixtures, such as a new toilet and sink, that can help you and future occupants reduce your water bills. What’s more, you can retain your bathroom’s layout and design while replacing outdated and worn-out fixtures. Give new life to dilapidated cabinets and drawers or replace them entirely with new ones that suit modern tastes.
If you have enough in your budget, keep in mind that not all high-end upgrades could produce the same rate of return as minor ones. Focus on the ones that are not only attractive to luxury buyers, but also provide the most impact in terms of functionality.
A walk-in shower is worth exploring if you’re opting for a major bathroom renovation that involves swapping the walls and flooring material with engineered stone. A waterfall shower is also worth adding to your renovation project, whether you’re staying for the long run or you’re planning to put your home up for sale on the high-end market.
3. Build a Comfy Home Office
With the growing popularity of remote work, you can expect most homebuyers to put a premium on listings that feature a home office. However, even if you’re not thinking of selling your home anytime soon, a home office is still a great addition to your property if you decide to work freelance or run a home-based business.
The most affordable option is a lighting upgrade. Consider adding ambient lights in each corner and a larger window that allows for more natural light to flood in. Extra storage spaces are also worth spending on, especially overhead shelves and fresh cabinets that are easily accessible while you’re seated at your desk.
High-end upgrades with good ROI may include better soundproofing that will help isolate the space and create a more effective place for holding online meetings. The flooring might also need to be replaced with material that’s perfect for ergonomic chairs to glide on.
Aside from natural wood, you can go for high-performance laminate or luxury vinyl plank. In any case, an upgraded home office should nudge up your home’s resale price by up to 10%, especially if there’s a strong demand in the remote work market.
4. Enhance Curb Appeal
You might not be thinking of putting your home up for sale, but improving curb appeal is guaranteed to make your property stand out in the community. Consider installing lights along pathways and blind spots around the perimeter. You should also go for ornamental plants that help act as a deterrent without diminishing the look of your home. Bougainvillea and low-growing plants like boxwood can serve this dual purpose.
Aside from these enhancements, your curb appeal projects should also provide extra protection and longevity to your property. Inspect the roof for cracks and corrosion, which could lead to further damage, leaks, and higher energy bills.
Deal with these issues right away or go for a total replacement of your roofing system. In that latter case, consider materials that are durable and high-end, such as tile or slate, which deliver up to 60% in resale value. Your home also sells faster and at a higher final price if you choose the right roofing enhancement.
Endnote
For your home to get the best possible return on the market, opt for these enhancements. Even if you’re not selling within the year, the benefits you get to enjoy are well worth the money and time you spend.
