I receive weekly calls from current and past clients inquiring about whether or not certain renovation projects are worth the time and investment. Today I want to talk about the 5 most important home improvements you can do to add value to your home and prepare it for resale in this current market. I’ll also talk about a few improvements that will add more personal value than monetary gain.
Before diving into the list, I want to stress to home owners the importance of continued maintenance of your home from the moment you take ownership. Continued upkeep will end up benefitting you in the long run and is easier on the wallet as opposed to making a bunch of renovations at the time you are ready to list.
Your home is one of the biggest investments you’ll ever make. Capitalizing on that investment by tackling these 5 projects to help increase your home’s value:
- Paint: Wall space is the most noticeable element in any home. A new coat of fresh paint is the best way to transform and revitalize any room in your house. Neutral colors tend to attract more buyers because it allows them to focus on the home’s attributes. White and beige color schemes work with most types of furniture, so buyers will be able to see themselves in the space.
- Clean / Updated flooring: Next to wall space, flooring is another thing people first notice upon entering your home. While hardwood flooring is a very popular asset to your home, clean, high-quality carpet can be quite attractive and will create a warm atmosphere. Be sure to repair any flaws in your flooring and have your carpets professionally cleaned or replaced if necessary.
- De-clutter and depersonalize: Vital to the pre-listing process is de-cluttering and depersonalizing your home as much as possible. Thoroughly cleaning your home, removing personal belongings like family photos and minimizing decorative accents will make it easier for potential buyers to imagine themselves living in the space.
- Update Fixtures and Hardware: Replacing old light fixtures and door hardware can go a long way in making your home appear up-to-date and modernized. Long gone are the days of all brass fixtures. Oil-rubbed bronze or brushed nickel accents have become trends that many home buyers now look for when perusing homes in today’s market. Installing new hardware fixtures throughout the home is a simple and inexpensive endeavor that can make any space brighter and more appealing thus creating a better overall sensory experience for the potential buyer.
- Landscaping - Making very minimal changes to your outdoor landscaping can vastly improve your homes curb appeal. Mowing your lawn, pulling weeds, removing dead or overhanging branches from trees, trimming overgrown shrubs and bushes, and adding a fresh layer of mulch to garden beds are some of the basic maintenance items that will help spruce up your home’s exterior. I don’t recommend spending a boatload of money on elaborate landscaping schemes. This can sometimes overwhelm potential home buyers because they lack the desire or ability to maintain it.
There are many home improvement projects from which home owners will gain a lot of personal value that won’t necessarily bring as much ROI. Now, I am all for putting in that swimming pool you’ve always had Clark Griswold dreams about. The memories you will create with your family and friends will last a lifetime and you can't put a price tag on that. Just remember that a pool is a pricey investment that often times will only bring you about one-third of the monetary return. Other enhancements such as detached garages and elaborate media rooms tend to bring sellers only about half of the money they spent on the project.
Be sure to tune-in to my Facebook page again next Tuesday at 10AM where we’ll be discussing more relative information about the Rutherford County housing market. As always, don’t hesitate to Contact Us if we can assist you with any of your real estate needs!