Before embarking on a home improvement journey, you should first consider how the changes you pursue will affect property resale value. A majority of renovations that homeowners pursue seldom increase resale value over the long term. Rather than making grand scale changes as a result of recent trends, consider what changes will make the largest difference in terms of resale value. But how do you know what makes that difference? Which changes are worth implementing? Which are some you should avoid? Here are some beginning tips to get a solid understanding of renovations meant to increase resale value.
Attention Grabbing Renovations: in order to maximize the return on your renovation investments, it is best to begin with changes that people are more likely to see. Most people searching for homes on the market are looking for their interests to be piqued when first inspecting a home, so changes that can improve the visual aesthetic of a home make the best impression. Some examples of this include replacing a long-standing garage door, or a fresh set of entry doors in both the front and backyards, or a newly renovated and fleshed out kitchen. Even something as simple as a fresh coat of paint in rooms that haven’t been painted in a few years can go a long way for those searching for a new home.
Plumbing & Electric: rather than focusing on the visual elements of your home, think about a prospective homeowners’ other needs when attempting to increase resale value. Your home’s most vital functions should always be performing at their best, and if they’re not you can be sure that realtors showing your home will know and warn those interested. Fundamental problems to a home’s infrastructure is a huge factor in the decision of those searching for a home. Ensuring your home is performing at its highest capabilities is a key part of increasing resale value.
Backyard Additions: particularly in warmer climates, renovations to a property’s backyard often bode well in terms of increasing resale value. Building a deck, a new landscaping project, or even a gazebo can be great choices. This is largely in part due to prospective buyers viewing these fully fleshed out outdoor spaces as one less project for them to undertake once they purchase the home. This also serves as a means of increasing the square footage your property provides.
These are just a few of many different changes you can make to a home in order to increase the resale value. For more information on how to properly renovate your home, check out the featured infographic below. In it, you’ll find ten additional ways to make your home more attractive to buyers!
Sara Scimeca is Marketing Coordinator for Synergy Builders, a stress-free remodeling company. She has two years of experience in the industry and manages Synergy’s marketing plans including creation of content for newsletters, brochures, advertisements, videos and more.