A home speaks. No, not literally, but your home can say a lot about your financial capability and personality. For this reason, updates are necessary to keep “in trend.” Investing in these improvements will not only increase your family’s enjoyment of your home but will also increase its worth.
You can do several things to increase the value of your house or investment property before putting it on the market. Even if selling isn’t in the cards right now, it’s always a good idea to ensure you’re getting the most bang for your buck while renovating.
Three Ways To Add Value to Your Home
You and your family can decide on the renovations that would best suit their needs while also improving your bottom line.
Improve the look of your home’s exterior
First impressions will always matter whether you’re looking to buy or sell a home. Prospective buyers may be turned off by uninspired or unwelcoming landscaping, which makes it difficult for the interior to make a good impression during a showing.
Beautiful landscaping, on the other hand, can enhance the appearance of a home and make it appear more inviting. Buyers don’t have to worry about estimating their labor costs or imagining what the house will look like once they’ve finished.
For a quality landscaping makeover, you’ll likely spend around $1,600. However, a return on investment (ROI) of around 300% is not out of the ordinary. Keep an eye out for frequent landscaping blunders to avoid them.
Beautify your kitchen
There’s a good chance that your kitchen cabinets and countertops need to be touched up. Buyers tend to spend more time in kitchens because it’s where they envision themselves preparing meals and snacks with their loved ones.
You should expect an 80-100% ROI if you spend between $3,000 and $10,000 on your cabinet renovation.
Furthermore, kitchen counters are subjected to a fair amount of wear and tear. It costs $35 to $100 per square foot plus a few thousand dollars for installation for countertops produced from long-lasting materials like quartz and granite. An ROI range of 60-80% makes this an excellent upgrade.
Invest in some paint
No money for renovations right now? Don’t worry! Painting the interior of your home can give it a much-needed facelift and an ROI of more than 100%. Painting the interior of your home can cost as little as $1,000, depending on the paint you use and whether you do it yourself or pay a professional.
Potential buyers may be put off by a home’s bright, eye-catching hues because they cannot envision their furnishings in the context of the backdrop and worry about needing to repaint immediately.
Neutral colors like off-white, gray, and beige are generally safe picks, and you should be able to choose a hue that perfectly speaks for you and your family.
Is your house lacking anything?
There is a significant chance that you already know which upgrades will work best for you if you plan renovations. No matter your budget, a new coat of paint is always a good idea. And if all you have are a few shrubs and plants, you might want to think about what you can do to change that.
Meanwhile, if you haven’t renovated your kitchen in a while, this might be an excellent time for it. In addition to boosting the monetary value of your property, each of these improvements will also make it more desirable to potential buyers.
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