Home improvements can add value to your home, but if you invest in the upgrades only when it's time to sell your home, don't expect the buyer to pay for them.
While certain features can definitely improve a home's value, its selling price and its salability, that doesn't mean all home improvement projects will return enough added value to cover all of the renovation costs.
If you plan to do major renovations only for the purpose of selling, not only will you spend money you could have used on your new home, but prospective buyers may not even like what you've done. If, however, you want to make improvements for your own enjoyment and plan to live in the home long enough to benefit from them, then they are worth doing.
Real estate experts always advise to leave the major improvements to the new buyer and to instead concentrate on curb appeal, landscaping and interior work that transforms your home into a model home.
The best ways to improve the value and marketability of your home without major renovations include cleaning up, removing clutter, removing wallpaper and adding a new coat of neutral tone paint. It is also a good idea to remove carpeting to expose hardwood flooring or to install new carpeting if there is no hardwood underneath.
Other worthwhile improvements include manicuring the landscaping and updating fixtures, windows, and doors. These cosmetic touches put your home in the best possible light and may cost only $5,000 to $10,000. In most markets, these generic improvements will enhance your home's functionality, efficiency and aesthetics - all to give it a more updated feel.
That also means completing deferred maintenance. Be sure to fix or replace broken items and systems. Use your cash to put the home and its components in good working order by replacing missing roof shingles and replacing broken or cracked windows. Repair driveway cracks and straighten fences. Re-caulk & re-grout bathroom tiling around tubs, showers & sinks; Remove any mould stains from ceilings & walls; Clean & polish glass, mirrors & metal fixtures; Repair leaky taps & toilets; Organize closets & get rid of unused items.
Beyond the cosmetic touches and functional upgrades, the best home improvements that help net sellers full market value include a new roof, kitchen and bathrooms. If, for example, you leave one of your bathrooms in its original 1950s style but remodel the other, or if you landscape the front yard but leave the backyard in its natural weed-infested state, most buyers will notice what's left to be done, rather than credit you for work you’ve completed.
Remember that first impressions are lasting, so make sure that buyers are left with the best possible impression when they visit your home.
If you would like any advice or recommendations all you have to do is call 514-700-2604 or send an email to firstname.lastname@example.org. Consider joining the Homeowners Advisory Club. It’s the first real estate concierge service designed to help you protect and maximize the value of your home over time.