Homeowners oftentimes ask me what types of home renovations or improvements they should complete to help increase their home’s value, especially if they’re considering putting their home on the market soon. There are a variety of things that can help update your home and if you do it right, they can bring in good returns when it comes time to sell the home. It’s important to note that some home remodeling or home improvement projects will add more value than others. Here are four things that can help increase your home’s value right away.
#1: Updated bathrooms.
A freshly updated bathroom can bring in great returns when it comes time to sell your house. You don’t need to do a full remodel, either. Simple updates like new sinks and toilets or updated flooring can be easy and inexpensive ways to increase value.
#2: Updated kitchen.
A fully remodeled or updated kitchen is one of the best things you can do to add value to your home. New cabinets, flooring, and countertops make all the difference when it comes to selling your home. If you decide to list the home without doing any updates or repairs to the kitchen, it’s common for prospective buyers to think they must remodel the kitchen space completely from scratch, overestimating how much a remodel will be. A kitchen remodel may be less than a buyer might think, so it’s great to get this part done so you can yield the returns when it comes time to sell.
#3: Exterior maintenance.
New exterior paint can do wonders for curb appeal! In addition, stay on top of other exterior maintenance to make sure it’s free from dry rot or other issues that could cause a potential buyer to worry. Make sure your roof is cleaned regularly and that a roofing professional checks it for leaks or missing shingles, but do not pressure wash it. If these aren’t repaired and come up during an inspection, it could mean an expensive repair or a price reduction in your home, so it’s better to get things maintained and taken care of before the house goes on the market.
#4: Updated color palette.
Looking for an easy and inexpensive way to create a relaxing ambiance inside your home? Freshen up the paint in your home to make sure it is updated to some currently popular colors that could be appealing to a broad audience. Fresh paint goes a long way. You’ll not only make the space feel brighter and cleaner, but painting with an updated color palette will give prospective buyers the opportunity to better envision themselves living in the space.
Not sure where to start when it comes to picking reliable companies or contractors to help you with your home maintenance or home remodeling projects? I am happy to give you some names of local contractors that I work with regularly and I’m also glad to visit your home and help you decide which to-do items would be the best bang for your buck.
I often have people ask me which home updates will provide the most value, especially when they’re looking to list their home for sale soon. There are several home remodeling projects that can reap good returns when it comes time to sell the house – some renovations add more value than others. Here are some home improvements and upgrades that can increase your home’s value.
#1: Updated kitchen.
A remodeled or updated kitchen can bring a great return. If you list the house with a kitchen that needs significant updating or repairs, a potential buyer could come in and think that they need to completely redo it and overestimate how much it will cost, when a kitchen remodel could actually be less than a buyer might think.
#2: Updated bathrooms.
Similar to updating your kitchen, remodeling or revamping your bathroom can yield great returns when you sell the home. Simple updates like new sinks and toilets or new paint and flooring can be a great way to add value.
#3: New windows.
Old windows – especially those in older homes – are usually not energy efficient and can get drafty, allowing cold or hot air in throughout the year. Replacing the windows in your home will not only add value to your home, but they’ll keep your home cooler and warmer during the year and can even provide a cost savings on your monthly utility bill.
#4: Updated flooring.
Floors have a big job and over time, they’ll show regular wear and tear. Updating your flooring can make a huge difference in the look of your home and can also add some big value. Adding new carpet or new hardwood or laminate floors is a great investment and if you have old hardwood floors, you can consider refinishing them to their original state instead of completely replacing them.
#5: New paint and caulking.
This is a simple and fairly inexpensive way to create curb appeal and add value at the same time. If the exterior of your home hasn’t been painted in a while, springtime is a great time to repaint. New coats of paint for the inside of your home is a great idea too and while you’re doing that, caulk around the windows and doors.
If you’re looking to make some upgrades to your home, call me for the names of some local contractors. Or, I am happy to do a quick preview of your home to help you decide what should be done for the best return.
A “flipped” home is one that has been purchased, renovated or remodeled, and is now listed for sale for a higher price than what it was initially purchased for. Most often, these homes are bought by investors that are able to buy the home for a good price (often below market value), fix it up, and sell it for a profit If you feel that buying a flipped home is a good option for your family’s needs, there are a few key points that you should consider.
Tip #1: Research the previous condition of the home.
If possible, find out what the condition was of the flipped home before it was purchased and renovated. Flipped homes are often purchased as bank owned properties, which usually means they were vacant for a time, which sometimes means there are some issues that need to be tackled upon purchase. If you can find out who the investor was or what company flipped the home, you’ll be able to determine if the quality of workmanship is good. Find out if this is their first home that has been flipped and/or what type of materials they generally use in their homes so you know what you’re getting into. Your Realtor will have experience with flip companies and can give you information as to their reputation.
Tip #2: Consider your financing.
If you’re considering buying a flipped home, talk to your mortgage representative beforehand. Sometimes, lenders and certain types of loans require that a flipped home be owned for a certain amount of time before they will lend money to a buyer. If you have specific questions about what loans you qualify for, a mortgage professional can help you get that squared away before you fall in love with a home.
Tip #3: Check for permits and get an inspection.
Many times, renovations on a home require permits or certificates of compliance. Do your research and see if the flipped home has permits on file and when they were obtained. Again, your Realtor can help you check into this.
In addition, any time you buy a home, it’s wise to get an inspection. It’s very important to get an inspection on a flipped home, as the inspector will be able to point out any defects or problems with the home, which can save you lots of money and frustration later down the road.
Purchasing a flipped home can be a great purchase for a buyer. But, as with any big purchase you’re about to make, it requires a little research. Ask those important questions and talk to your Realtor as well as your mortgage professional.
Planning on building a new deck? There are a few must-knows before you dive in and tackle a deck building project on your home. Here are some tips that will help you plan and prepare for a successful DIY project.
Tip #1: Research what design will work best for your space.
First, you’ll need to decide exactly where your deck should be placed. Do you want it freestanding, attached to a back door, or on the second level of your home? Research what design and style will work best. A well-designed deck will help you create a list of materials based on that design. It will also ensure that the outside area of your home is put to use the best way possible without any empty or wasted space.
Tip #2: Research the permit process.
Check out the local city building codes to see if you need a permit. Oftentimes a permit is needed if the deck is over a certain height. Be sure that you check what the total size requirements are for the city as well to make sure that it isn’t too large. When you go to sell the house and need to go through the inspection process, you don’t want to run into a problem because the permit process was not followed. In addition, you should always check to see what your Home Owner Association (HOA) rules are. Most HOA’s require approval of any outdoor project.
Tip #3: Research your material options.
When it comes to deck materials, there are a few different options. While wood is traditionally the type of material that is most used for decks, there is also composite decking that can be used. The cost is usually more than traditional wood, but if you plan on using the deck for a long time, it can actually save you money in the long run when compared to cleaning, refinishing, and replacing wood boards. Composite decking usually comes with a warranty as well, so you are covered in the event of something going wrong.
Once you have completed your research and have all of the proper tools necessary for launching into building the deck, you’re ready to get started. It’s a big project, but one that will pay off well! Having a beautiful deck is a great way to enjoy the great outdoors and it will also add value to your home.