No matter how much you love your home, real estate is an investment. Sometimes you have to put personal preferences aside, such as expanding the pantry area, and think about what helps houses sell for higher amounts, such as a half bath.
In the National Association of Realtors (NAR) 2019 Remodeling Impact Report, realtors ranked home projects in order of likeliness to increase home value for resale. The top three slots went to kitchen renovations, kitchen upgrades and HVAC replacement.
In addition to big renovations like a complete kitchen redo, smaller things add value to your home as well.
1. Remodel the Bathroom
Money you invest in a bathroom remodel almost always ups the value of your home. You can do a lot of the work on your own. Even a recoating of the bathtub freshens everything up and gives a small room new life. For particularly small spaces, seek ways to make them seem bigger. Use a small pedestal sink, brighten up the space with light colors and utilize mirrors to add dimension.
2. Replace Worn Floors
The soft flooring in your home often shows wear and tear the quickest. Look at the carpet and linoleum and see if any of it needs replacing. Buyers often pass over a home because the thought of buying new flooring seems overwhelming to them. If you have just a room or two where the carpet is horrendous, replace just those rooms at first. You can also buy some beautiful laminates inexpensively and install them yourself.
3. Add Curb Appeal
You’re much more likely to get showings and sell your home quickly when it looks good from the outside. In a low-inventory market, you may even attract multiple offers at once and wind up in a bidding war. This almost always benefits the seller.
Some elements that may increase the value include beautiful new garage doors, roofing and a fresh coat of Paint or clean siding. In fact, 80% of realtors said that these changes increase the listing price. Landscaping is essential for staging your home, but may not add as much value as the other features.
4. Paint Everything
A gallon of paint is fairly inexpensive, but it can give a drab room new life. Look at painting from the perspective of the potential buyer. You might adore a bold yellow in the kitchen, but most buyers want something neutral.
Stick with a soft taupe, off-white or pale gray for your walls. Don’t try to add any unique designs. If you have those elements in your home, it might be worth your time and effort to paint over them so they don’t distract buyers from the beauty of the architecture.
5. Get Rid of the Popcorn
Do you have popcorn ceilings? Look into the best way to get rid of them. It’s a messy and extensive process. Many home buyers won’t want to take on the project, but the ceilings also scream “1970s” and make a home look dated.
The best time to remove popcorn ceilings is while you’re living in a home. Work on one room at a time. Seal everything off so the dust doesn’t go all over the house. A smooth, untextured ceiling or a more modern textured design is your best bet for resale purposes.
Brighten Things Up
Look over your house through the eyes of a buyer. Is there any clutter you can move into storage? What walls seem dingy and need paint? How can you stage your home so it is appealing to the masses? Any little thing you can do to make rooms such as the kitchen and bathrooms look current and updated increases the likelihood you’ll get closer to your asking price.
Martin Banks is the Founder and Editor-in-Chief of Modded. Find him on Twitter at @TModded.