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Remodeling Or Renovating For Resale
If you’re like most Americans, your home is probably your biggest investment. You want that investment to perform as well as possible, so if you think you may sell your home some time soon, it makes sense to do as much as you can to boost its value.
Depending upon your situation, this can mean doing some home renovations so your house becomes more attractive to potential buyers.
But, while upgrades can boost your home price and help your home sell faster, remodeling and renovating your home can be a huge expense and not all renovations have an equal impact on what your home is worth. To ensure you’re making renovations that will actually pay off, Jennifer Zenquis, Sales Associate with ERA Justin Realty shares her thoughts on some upgrades that give you the most bang for your buck.
Improving Home Efficiency
While most homeowners think upgrades that improve the look of their home will pay off, improving your home’s efficiency may actually make a bigger difference. In fact, homeowners can recoup a large amount of the costs of attic insulation. And attic insulation is just one of many upgrades that improve efficiency. In addition, upgrading HVAC, water heaters, and windows will cost less than solar panels and are more likely to provide a positive return on investment when the time comes to sell.
Exterior Improvements
We’ve all heard it before: You only get one chance to make a first impression [when a buyer pulls up to your home]. Zenquis agrees, “I can’t tell you how many buyers don’t even want to make an appointment to see a home if the exterior isn’t what they were looking for. Something as simple as powerwashing and adding a few shrubs, mulch, and potted plants can do wonders at minimal cost.”
Budget-Friendly Kitchen Remodel
Most experts agree a kitchen is key to improving a home’s value and Jennifer advises that if a seller has only enough money to renovate one room, the kitchen is the room to pick. “Kitchens are the focal point of almost every home showing and when buying a home, people will overlook a lot, but an old or run-down kitchen could hurt the resale value.”
You don’t have to spend a fortune to make a big improvement in your kitchen. A minor face-lift for your kitchen could include painting cabinets or getting new cabinet doors, installing new appliances, upgrading countertops, or switching out cabinet hardware. Even minor kitchen updates consistently outperform bathroom projects, regardless of cost and make it easier for a buyer to want to purchase your home.
Bathroom remodel
If your bathrooms are outdated, this is another room where updates could make a big impact. “Next to kitchens, bathrooms are the number two selling point in most homes. Consider re-grouting tile; removing and replacing caulk around the shower, tub, and toilet areas; and possibly replacing the toilet for a more efficient and modern look. Replacing mirrors and fixtures will also go a long way to improve the look and feel of the bathrooms.
A new coat of paint
One of the cheapest updates you can make also has one of the best returns on your investment: painting your home’s interior. This is a must in Jennifer’s book. “It cannot be underestimated the affect a clean coat of new paint has on a property. Most sellers don’t realize how much abuse walls take during the years they live in the home. Be sure to select light or neutral colors to lighten the room and instantly make a space feel fresh and clean.
Ultimately, working with an experienced realtor like Jennifer can help you to decide what upgrades it makes sense to invest in so your home meets the expectations of buyers in this market.
With the at-home orders lifted, more buyers will be out in full-force, attending Open Houses on the weekends. We know because we have many buyers looking for their dream home! If you are ready to sell your home, ERA Justin is here to help. Contact Jennifer, or any of our experienced ERA Justin Sales Associates to help you decide what upgrades or updates will add value and appeal to buyers. ERA Justin Realty has sold 3 times more homes in Rutherford than the nearest competitor, based on statistics from NJMLS. We are located at 118 Jackson Avenue or 57 Park Avenue in Rutherford.
