Not all home improvements payoff at sale. Try these tips for selling your home like these home improvement projects that can add significant value.
Minor kitchen remodel
A minor kitchen remodel is the home improvement project that is most likely to increase the value of a home at resale and allow homeowners to recoup more than 90% of the costs involved. Minor kitchen remodeling consists of improvements such as updating kitchen cabinets by painting or staining them, changing the cabinet hardware, or modernizing kitchen sink faucets. Painting or wallpapering the walls, or replacing the existing linoleum flooring with a modern pattern or another flooring material are two other improvement projects that are beneficial as well.
Replacing the siding on your house is a close second to a minor kitchen remodel. Homeowners can expect to recoup more than 90% of their costs on this home improvement as well. Replace existing siding with vinyl siding, which most potential buyers view as being maintenance-free as well as durable. If you are replacing existing clapboard siding in kind, the expense would be much more significant.
Adding a deck
Adding a deck to your home is a simple way to add more living space. Homeowners can add an extra 320 square feet of living space by building a deck off the kitchen or living room and can expect to recoup more than 85% percent of their costs. A deck doesn't have to be fancy, just safe, secure, and functional. In addition, a deck is more cost effective than several other outdoor home improvement projects, such as landscaping or an in-ground swimming pool.
Adding a second bathroom
Whether it's upscale or midrange, adding a second bathroom to a home with only one or one and half baths is another winner in the home improvement arena. Homeowners will typically recoup more than 85% of their costs at resale. Like many other cost-effective home improvement projects, adding a second bathroom is a functional upgrade, not a frivolous one.
A mid-range bathroom might include a cultured marble sink and vanity, a ceramic tile floor and tub and shower surround, wallpaper, a mirrored medicine cabinet, and storage space for linens. An upscale bathroom, which is typically associated with the master bedroom, is usually more luxurious. Lighting may be more direct and there may be a whirlpool tub in addition to a tub and shower. Very often there are his-and-her sinks and medicine cabinets, and possibly heated floors.
Family room renovations
Homeowners that add a family room can expect to recoup about 80% of their costs, provided the new addition ties into existing heating systems and is not built in a basement. Amenities might include hardwood floors, skylights, and French doors. If you live in a smaller home, adding a family room before you sell your home is a good idea, even if you don't have young children around.
There are both advantages and disadvantages to selling your own home and it isn't difficult to learn how to sell your own home, either. Number one on the list of advantages is saving money by avoiding real estate commission fees. Among the disadvantages are paying out of pocket for advertising costs, pricing your home too high or too low, and not being able to devote enough time to the house-selling process.
Hiring home inspectors has advantages for both home buyers and home sellers. Home sellers that hire a home inspector can be proactive about making the repairs necessary to help their homes sell more quickly. Home buyers can feel confident that the home they buy is not in need of any major or minor structural work.
"What documents do I need to sell my house?" Selling a home involves a lot of paperwork, so you're going to need to roll up your sleeves and start looking for several important files.
As with many other things in life, there's more to choosing a real estate agent than meets the eye, and while you adore your sister-in-law, her Aunt Clara who sells real estate two towns over may not be the best real estate agent for you. Here's what you need to know about choosing a real estate agent to sell your home.