Over the course of time spent living in your home, it’s likely you will make several improvements to hopefully increase its value. While not all renovations guarantee a significant home value increase, there are a few improvements that significantly increase the likelihood buyers will be impressed with your home when it comes time to sell. The kitchen and bathrooms are the most sought after rooms of the home, and by making some of the following suggested upgrades to these areas, you’ll likely see a greater return for your investment.
Add Value to the Kitchen
The kitchen is a great place to start when adding value to your home. In fact, making even minor updates to your kitchen will likely yield a great return on your investment. Updating your kitchen is one of the best – and most financially rewarding – investments you could make in your house. In the hottest housing markets, investing in kitchen and bath remodels is a sure-fire investment, sometimes returning more than 100 percent of the cost. Experts recommend sticking with traditional materials and appliances, such as all-wood cabinets, commercial-look appliances, and natural wood or stone floors when remodeling a kitchen for resale.
The cabinets are often one of the first things you notice about a kitchen, and while they’re usually on the top of kitchen improvement costs, you’ll likely see most of your return. Choose wood cabinets over laminate surfaces, and add personalized options, such as molding, wine racks, and custom woodworking to provide a custom finish in your kitchen. For an inexpensive upgrade, consider updating the hardware of your drawers and cabinets.
Another area of the kitchen you will see big returns on is your countertops. The more money you can spend on a higher-end countertop, the better. Solid surfacing, concrete, and granite are largely considered to be the higher-end grade and, if you’re concerned about price, consider overlay countertops manufactured from composite granite/resin for the look of granite countertops at a fraction of the cost.
If your appliances are more than three to five years old, you may also want to consider replacing or updating them. Stainless steel or professional grade appliances will see a higher return on your investment, as a newer model or a more designer finish will influence home buyers take a second glance at your kitchen.
Add Value to the Bathroom
Bathrooms are another of the most frequently used rooms of the house, so you want them to function well and look good if you’re planning on selling. Start by adding a neutral-colored paint to the walls, such as a light grey or cream. This easy step can sometimes completely change the look of the bathroom. Then, just like with the kitchen, put upgrades where you can most afford it. Replace your countertops with either a granite or marble vanity, and upgrade your faucets and sinks. Bathrooms are no longer thought of as being strictly functional- people like to feel relaxed, like they’re in a spa.
In fact, most people desire spa-like bathrooms. Heated floors and warm lighting are added bonuses that will attract buyers to your home. With an 85 percent on return, install a shower with body sprays and luxurious tile. Not only will you feel like you’re in a Zen garden every time you step into your bathroom, but you’ll impress potential buyers with your gorgeous bathroom.
As you consider adding value to your home through renovations and improvements, start with your kitchen and bathroom to see the most return on your investment. And if you get started early enough, you may be able to enjoy some of the fruits of your labor before your home is snatched off the market.