No matter how much or how little you pay for your first house, you can increase its market value as little or as much as you choose by adding home improvements. The more detailed and luxe the renovation, the more lucrative an investment it is. Whether it’s something as simple as installing modern bathroom fixtures or as extravagant as building on an outdoor living space, each and every dollar you invest into improving your home will multiply exponentially if and when you decide to sell.
Of course, home improvements are not always done with the intent of increasing the market value for a sale. Most people make renovations for personal necessity or simply for enjoyment. In many instances, there is no thought whatsoever to selling the house, only to creating the ideal living space. However, if you are someone who is looking to renovate your house and place it on the market, you will want to take into consideration these tips that will help you pick and choose the best improvements to invest in. Spend your money wisely, create a home that will be irresistible to your target market, and your investments will see an impressive return:
ASK THE EXPERTS
Before undertaking any home improvement project, large or small, it can be a good idea to invest a bit of money for an in-home consultation session with an interior design specialist or a reputable realtor. This is an excellent way to learn what types of improvements and renovations will be the most appropriate – and lucrative – to your home. Some realtors and interior designers will even offer this service free of charge. Check around in your area and possibly save a few dollars on a consultation fee.
START FROM THE OUTSIDE
Keep in mind that the first impression of your house any prospective buyer is going to have will be it’s outward appearance. Therefore it makes sense to begin making improvements here first. This doesn’t have to be costly. Making the house and grounds attractive can be as simple as purchasing a few decorative outdoor planters and filling them with plants that are native to the area, for easy care and longevity. Choose plants of various sizes and colors to create interesting contrasts. The more eye-catching, the better.
PUT NECESSARY REPAIRWORK FIRST
Before spending the first dollar on cosmetic improvements, it is important to make sure that any necessary home repairs are completed first. This means seeing to any repair work you are aware of, but it also means hiring an inspector to determine if there are any unforeseen problems that may need to be corrected so as not to become major issues later. Electrical issues, water leaks, foundation or structural damage, etc, can’t always be seen with the naked eye. Any existing issues will have to be corrected first and foremost.
MAKE YOUR HOME MORE ENERGY-EFFICIENT
Consider home improvements you can make that will have twice the benefits, now and later: ones that will save you money now (which you can recycle back into more renovation), and serving as a huge plus mark to any prospective buyers when the time comes to sell. Look for ways to make your house more energy-efficient. Replacing older mode windows and doors is a perfect example. Check with your local utility company to see if they offer free energy audits. Many utility providers make this service available to their customers. AN energy audit can give you valuable information on how to create an energy-saving (and therefore money-saving) home.
FOCUS ON THE KITCHEN
Any home improvement expert will tell you that one of the main selling points of any house is an attractive, up-to-date kitchen. Replace old counter tops with modern ones that are pleasing to the eye and efficient. Install stainless-steel appliances. Cabinets don’t necessarily have to be completely replaced; new doors and fixtures create a beautiful, pulled-together look that gives the impression that they were a great deal more costly than they actually were.
The kitchen is most often the single deciding factor for buyers who can’t quite make up their minds. One new trend, installing one of the many styles of luxury outdoor kitchens, has caught on and become a must-have for some buyers. Impressive, ultra-modern, and generally quite extravagant, this particular home renovation can be costly, but it will literally add tens of thousands of dollars beyond it’s cost to the market value of your house.
Above all, the majority of buyers are looking for luxury these days. Think in-ground swimming pools, decks with hot tubs, indoor saunas, thick, soft carpeting, decadent spaces filled with the potential to personalize and enjoy to the fullest. Talk to friends, family members, neighbors, coworkers, etc, who have recently had dealings with the housing market. Find out what is hot in home improvements and go for it. Money well spent will turn into even more money in your pocket, when all is said and done and the deal is closed.