Sure, you can spend a lot on something purely for the personal pleasure of having it like that outdoor Jacuzzi under the attached gazebo or you can go the practical route and make an improvement that will increase your home’s market value. But be forewarned! You can’t expect to always recoup your costs on both counts. Just because you put $25,000 worth of improvements into your home doesn’t mean that your house is worth $25,000 more!
It may not sound very exciting, but it’s the basic improvements you make to your home that may have the greatest return on its value: a beautiful new bathroom won’t make up for a leaky roof. Below are some examples of a few improvements that usually pay off and some that rarely make a difference (no matter how much you paid for them) when it comes time to sell your home.
We are noticing that as Weston Homes “age” Buyers are favoring homes with updated Kitchens and Baths. Properties that have not been updated tend to take a little longer to sell, or Buyers want to discount the price based on the amount of money they feel will be needed to remodel the house.
If you’re planning to sell your home in a year or two, a fresh coat of a neutral toned paint could make the sale easier. If you have colored walls, even if you don’t plan to paint the whole house, neutralize the home as much as possible.
With just a few basic improvements, your kitchen can practically pay you back with interest!
New paint, appliances and flooring are always appreciated; plus, you might even consider sanding, staining or painting worn looking cabinets. Replacing old cabinet hardware is a low cost improvement that makes a big difference in appearance. According to the Remodeling magazine 2016 Cost vs. Value report, the average spent on a major kitchen remodel is around $60,000, while a minor one averaged $20,000. Full kitchen remodeling recouped 65% of its cost and the minor remodel was valued at 83%.
Updated bathrooms are very attractive … try to stay neutral too. Sometimes just changing the light fixtures, a coat of paint and a new and nice shower curtain can give some freshens.
Before you do any improvement to your home feel free to call me at 954-303-6500 to discuss how you can make an affordable face lift to your home that will add the most value when you decide to sell.