You want to make your home more attractive to prospective buyers, but you don’t want to waste valuable time and money in the process. We don’t blame you! Determining which home renovations will bring you the greatest return on your investment can be tricky.
Before you reach for the toolbox or call your contractor, you may want to consult a local real estate agent (get tips for choosing one here). He or she can assess the current condition of your home along with other factors (e.g., location, timeline, market conditions, competing inventory) to help you determine which renovations, if any, may pay off at the closing table.
In the meantime, we’ve identified a few minor updates that could add value to your home and possibly speed up your sale.
- Paint. Nothing says “new and inviting home” quite like a coat of fresh paint. And according to Consumer Reports and Zillow, the right shade could boost the value of your home. Keep in mind that you don’t have to repaint the entire home, just the areas that need it most.
- Kitchen. Breathe new life into the heart of your home by refinishing floors, replacing worn-out countertops and giving outdated cabinets a fresh coat of paint and/or new doors. Other updates to consider include installing new cabinet hardware, replacing dated light fixtures and giving mismatched appliances a cohesive look with new face panels or doors.
- Bathroom(s). Want to make a big splash with little effort? Give your bathroom(s) a mini makeover with new paint and lighting. You can also freshen up the space by replacing the sink, faucet and mirror(s), re-caulking the tub and adding a few decorative touches (e.g., new shower curtain and hand towels).
- Exterior. Prospective buyers may form their first impression of your home before they even enter the front door. Plus, attractive landscaping can increase your home’s value by up to 28 percent, according to HouseLogic. Make sure your lawn, trees and bushes are trimmed and consider adding additional greenery (including colorful flowers) to boost your curb appeal. You may also benefit from pressure washing the home’s exterior, including fencing, and adding a decorative stone walkway.