It’s a new year! It is the time of year when our clients begin asking us what improvements they need to make on their home to earn top dollar when they are ready to list.
It’s easy to dream about new quartz countertops or a screened-in porch, but those are not necessarily at the top of a potential buyer's list. If your windows are cracked or your roof is leaking, those are things you will need to fix before listing. There are a lot of misconceptions about what is worth the investment, and we are here to clear those up!
Here are the home improvements that give you the biggest rate of return:
- Minor Kitchen Remodel: The kitchen is the heart of the home. It is where people spend the majority of their time! Think of what would “wow” a buyer coming in to see your home. Perhaps it’s all stainless steel appliances or white shaker cabinetry. As beautiful as that custom marble countertop looks, consider that a buyer may also enjoy the standard countertops and can switch it out later.
- Minor Bathroom Remodel: Walk-in showers have now replaced huge whirlpool tubs, as most people don’t have time to take a bath anymore. Simple changes like new countertops, modern hardware, and new light fixtures go a long way. Remember, don’t spend your money remodeling the bathroom if it’s the only one you have. You are better off adding a second bathroom!
- Home Maintenance: Buyers love to see updated kitchen and baths, but would normally walk away from the purchase if the roof is leaking or there is wood rot in the crawl space. It is not a glamorous change to your home, but can certainly add value.
If you’re thinking about putting some money towards home improvement projects this year, keep in mind that your investment depends on a few things to make it worthwhile. What you get back depends on the value of your house, the value of houses in your neighborhood, and the housing market. For example, if you are thinking of installing a brand new gas stove, but are the only house in the neighborhood with just one bathroom, your money should go to adding a bath.
Remember, more than 70% of buyers who purchased existing homes knew what they were going to remodel before they even closed the deal. Don’t feel like your home needs to be completely upgraded. Make smart and sound changes that fit in your budget! If you would like guidance on what home improvements would help your home return the most money, don’t hesitate to reach out to us! We are happy to help!
Follow Jennifer Vick & Co. on Facebook and Instagram for all sorts of great ideas, tips and the latest in inventory. You can find us on the web, via phone (704.284.7674) or email. We look forward to talking with you.
