When getting ready to sell your home, it can be hard to know what renovations will get your property sold the fastest and for the most amount of money. Should you replace your AC or redo your kitchen? Should you get your roof done or buy new appliances?
And of course, most importantly, how much money are you going to recoup on the sale price if you do make the investment? Remember that in a Buyer’s eyes, the cost to do these projects will be way more than what they may actually cost, so you have to think of these projects as an investment in preserving the equity in your home.
Here’s some of your most worthwhile renovations when it comes to getting your home ready for the market. Ready?
Painting Return: 100% +
Painting is one of the easiest, fastest and cheapest ways to get your home ready for the market. And the best part is that you might actually make money by doing it! Most painting jobs add more than 100% back of what it costs to the list price, so it is well worth your time to push your furniture to the center of the room and add a fresh coat of paint to your home.
And remember when it comes to getting your home ready to sell, you want it to be neutral, clean and modern. Painting a living room or a bedroom a bright or unusual color may suit your tastes but won’t necessarily suit those of your prospective buyers.
Minor Kitchen Remodel Return: 81% or more!
There is a big difference between a minor and a major kitchen remodel. Most kitchen remodeling jobs will run you around $5,000-$12,000 and a major one could be double that. Doing the lower end of the remodeling can still leave you with a really nice kitchen.
Replacing appliances, light fixtures, sinks, and refacing cabinets, as well as replacing laminate countertops with granite or quartz will pay big dividends on your home’s value.
Bathroom Remodel Return: 70%
People love beautiful kitchens and bathrooms. And although it might make more sense to add a bathroom than to remodel one, if you already have enough bathrooms, then remodeling the ones that need it most might be money well spent.
Replacement Roof Return: 70%
Being able to add ‘new roof’ to your listing can add a lot more credit than you think. And you may only recoup the cost of close to 70% of the expense, but have a worn out or leaking roof can deter buyers and leave your house sitting on the market and cost you in the long-run.
And remember, the condition of your home is going to be buyers top priority, so better to replace the roof if it’s not in good condition.
Adding a Screened Lanai Return: 70%
Your home may already have a lanai in which case refurbishing it, may be all you need to do. But if you do not have a lanai and decide to put one on your home before you sell, then you will likely get close to three quarters of the cost back. And any additional space that has been added to your home is going to increase the value. In Florida, the lanai becomes an extension of the living space when the weather is nice.
When selling your home, you have to think like a buyer. And as you are likely going to be purchasing a home after you sell the one you currently live in, you know what is most important to you is most likely important to the buyer of your home.
Assess what needs to be done in your home and opt for the projects that you are going to make the most amount of money back on.
Need help from a professional to do some of any of these projects? Call me! I Got A Guy!
Need more information on selling your home? Don’t Get Antsy … Just Call Nancy!