When you're getting ready to put your home on the market- or are considering a potential sale in the future -improving the value of your home becomes a priority. Here are five ideas for improving property value and getting a higher return of investment (ROI):
1. Take on One Room at a Time
Don't bite off more than you can chew when performing a home makeover. Keep home improvement projects manageable by working on only one room at a time. Whether it's a coat of paint or renovating a whole room, focus on one room so projects can be finished.
Start by making a list of all the improvements you want to make, beginning with a meaningful list of categories including total spend and the estimated time it will take for completion. Then you can prioritize projects based on your schedule and budget.
By strategizing and staying within the time and budget constraints of home projects, it's far more likely you will get them done.
2. Clean Now for Value Later
A clean home is far more visually appealing than a slightly dingy home and therefore can do a lot more for its perceived value.
By prioritizing a clean home, you:
● Address maintenance issues before they become expensive
● Prevent dirt and grime from building up- which can enable things like mold to spread if unchecked
● Maintain a healthier living environment for you and your family
● Remove junk before it accumulates into an expensive and/or time-consuming removal project
3. Upgrade Your Kitchen
This is the home improvement project with the number one greatest return.
Here are some valuable updates for your kitchen to consider:
● Paint- It sounds simple, but it can do a lot. There are even faux-wood finishes you can paint onto your cabinets.
● Update the backsplash- New tile will make the kitchen look fresh and modern.
● Upgrade appliances to stainless steel- This metallic look is appealing to buyers.
● Consider installing a rolling island to match your kitchen cabinets
● Install a pot rack- This is very attractive to hang pots, pans, and wine bottles above a kitchen island
● Light fixtures -- Lighting sets the tone for all rooms, the kitchen even more so.
If you don't feel you will do a great job deep cleaning your kitchen, then also consider hiring a professional house cleaning service to give it that final polished effect - You won't regret it.
4. Give Your Bathroom a Makeover
The bathroom is one of the most important rooms for the value of your home. Bathrooms experience a lot of wear and tear, so making upgrades over time is necessary to increase a home's value.
Here are some valuable bathroom updates to consider:
● Update your sink- Under-mount sinks are in and drop-sinks are out. People want updated modern, sleek faucets.
● Make the countertops granite or marble
● Install stylish wall mounted lighting- This is preferred over overhead lighting. Make sure you also have nice lighting around the mirror.
● Heated floors
● Modernize the bath area- There's an 85% return on investment in installing a shower with body sprays and stone surround tile
● New grout- This can freshen up the bathroom by removing old dirt and grime.
If you aren't a handy person by nature, then consider getting bids from experienced bathroom remodelers.
5. Hire a Home Inspector
You go to a doctor for physical exams, you take your car to a mechanic for checkups. Your home can have checkups from a professional too- a home inspector. Even if you're not selling your home, a home inspection report can be a valuable thing. Those records can show future buyers a good history of home maintenance.
Plus, you can fix problems on your own terms rather than be pressed to pay out more to push a sale through. If your home inspector gives you a clean bill of health, this can help direct what home projects to invest in.
It's wise to get your own inspector before putting your home on the market. That way if there are any issues, you can take care of them in advance rather than discovering them during real estate negotiations which can turn away the potential buyers.
Use this guide to help you determine how to approach home improvement projects.
Got more questions about real estate in St. Louis? Contact TdD Attorneys at Law to have your questions answered or to learn about the real estate attorney services we offer.