So many sellers believe that getting a whole room of a house refinished will bring a higher value to their home. While this may be true in some cases, a majority of the time your profit is only 75-80 % compared to the 100% you just spent. Remodeling a room is one of the most costly ways to boost your home’s value. In this post, we will be reviewing easy, DIY ways you can boost your home’s value without dishing out thousands. Smaller projects will give you the best bang for your buck.
According to the 2015 Cost vs. Value Report produced by Remodeling magazine, an average refinished and modeled bathroom will cost you up to $40,000! That is a crazy amount to invest for something you are going to eventually sell. To follow up with this, the resell value is only 48.5% according to the report. That means you lose more than half of what you invested, it is definitely best to avoid this trouble.
Buyers today like new, upgraded, and additional. They want everything fully finished and ready to move in without having to do any work. These are considered turnkey properties. Rather than remodeling a bathroom in your home and adding things, opt for cleaning it out. Having a polished, spacious room makes it look newer and cleaner, as if there was no wear to the room. Cleaning out rooms will also give the buyer opportunity to visualize what they can work with and how they would want it to look. Overcrowding a room makes it look more worn down.
Concentrate on the smaller details such as, doors that need to be replaced, new paint, or hardware (faucets, cleaning up the stove/oven, etc). Giving your house an update on smaller details can make a big difference in the larger picture. If there is wear and tear on any other details that may be noticeable by customers definitely invest in fixing them up.
Luxury is becoming a key component for buyers today. Outdoor amenities are also a great way to boost the value of your home. If you don’t have a pool, having an outdoor covered seating area or patio will also help. According to agents around Northern New Jersey, outdoor areas are helping houses sell at a substantial rate. Having a beautiful landscape does not mean you have to run to your nearest gardening center and buy flowers, shrubs and trees. Just having your lawn groomed, trimmed, and pristine looking will satisfy the buyer’s eye. Overcrowding of shrubbery and flowers on lawns may be beautiful, but it doesn’t necessarily boost your home’s value. As mentioned, the customer will have room to idealize what they want their lawn to look like, giving them inspiration.
Keep it neat, tidy, and clean!
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