Home improvement can boost the value of your home, but it does not always have to be the big expensive projects that bring the most value. It is the more modest improvements that attract the most attention in the real estate market and give your home a bigger value boost. In fact, kitchen and bathroom upgrades are one of the most desired features buyers look for today and the remodeling costs for these are not very high.
In today’s market the top selling properties are fixer-uppers and completely renovated homes. It is important to watch your local market to evaluate what is hot so you can best decide what to do with your home. If the market is flooded with investors who are looking to renovate and flip homes, then upgrades are not necessary to make your home attractive. You can add value to your home by not renovating at all in these market conditions.
A remodel can be expensive but home improvements do add value. You are left evaluating your options and deciding if the costs of renovating will increase the value enough to make a profit when you sell. In cases where the costs may outweigh the benefits, smaller renovations are the answer. Lower costs allow for enough change and improvement to attract buyers.
In a seller’s market small changes like exterior paint and some landscaping increases the curb appeal of a home enough to bring in the buyers. In addition to a small touch-up, using virtual staging can help sell your home without expensive improvements. Virtual staging allows buyers to see what it would look like with upgrades, showing the buyers all the potential sitting in front of them should they buy.
There will be some cases where some type of improvement is required for an undesirable property. In this situation, less is more and a simple improvement project will have a big impact. Fresh paint or adding hardwood floors make a big statement without breaking the bank. Upgrading features through the house such as faucets and handles on cabinets also gets noticed.
The problem with home improvements is that the work you do is not going to be to everyone’s liking. When you only make small improvements, the home becomes more attractive but still allows buyers to see it their way. Many people want to buy a home they can change to their preferences. Providing a home with modest renovations that still has room for improvement saves you money and boosts the value to potential buyers.
Homes only need to be restored to a good state of repair before listing. That is the bottom line. When any updates are needed, find the smallest projects that will have the biggest impact and take those on first. Updated fixtures, and eye-catching accents in rooms are enough to get attention. Many buyers find homes with good structure and in need of a small facelift acceptable. You only need to work according to the market value and renovate just enough.