7 Renovations That Add Value to a Home
Renovating your home with the intent to increase its value, while still living in it, may seem like overkill. However, if you anticipate that a move is in your family’s future, we recommend routinely upgrading areas of your home that could attract future buyers in case you decide to sell sooner than expected. Whether you’re selling soon or a move is in the distant future, consider these 7 home remodeling investments that will improve the look and value of your residential property.
Upgrade the Basement
Are you guilty of piling unwanted furniture and memorabilia in your cluttered basement? In a real estate market as stretched for inventory as Midland is, that extra square footage can make a world of difference to potential homebuyers. Quit neglecting the bottom floor of your home; clear out the junk and make it into a relaxing space the whole family can enjoy. We recommend investing in smart home technology, like customizable lighting or automated appliances, to add value to your home and give prospective buyers an idea of what can be done with the space.
Expand the Floor Plan
If HGTV is any indicator, buyers are still going crazy for open floor plans. An open floor plan brings more natural light and open spaces, both features that perform well at open houses. Before committing to knocking out a few walls, however, we recommend speaking with a contractor to check the safety of your project and make sure your property’s structure will stay intact throughout the remodel.
Replace the Garage Door
Is your garage door looking a little beat up from years of heavy rains, snowstorms, and windy days? It might be time to replace it. For less than $2000, you can invest in a brand new, steel door to keep your cars and belongings safe. As long as you reuse your current door’s motorized opener, a new garage door is a renovation that practically pays for itself.
Give Some Love to the Outer Walls
Repainting the exterior of your home can make a dent in your savings, but if you’re planning to put your home on the market soon, it’s an investment that can make a real difference in the eyes of homebuyers. If you still want to touch up your home’s exterior without committing to a large paint project, however, spend a Saturday touching up any flaking or chips and give some extra attention to your front door and trim. With this remodeling project, a little goes a long way!
Install Hardwood Floors
While linoleum was once a sought-after material, buyers are likely to run fast if this flooring material takes up any amount of real estate inside your house. Same with pet-stained, deteriorating carpet. While you may not want to invest in expensive hardwood floors if you’re planning to sell within the next year, installing hardwood floors (or at least updating current ones) can increase your initial asking price.
Commit to Neutral Walls
We get it. Your bright red living room is still one of your favorite features of your home. However, for buyers to be able to imagine their own belongings in your space, neutral walls are recommended for most, if not all, of your home’s rooms. Colors like beige or blue-gray will keep your rooms looking fresh while still offering more personality than a plain white or off-white tone.
Update Bathroom Appliances
While shower/bath combos use to draw in the most buyers, studies show that younger homebuyers prefer a single, walk-in shower. If you’re open to self-installation, a walk-in can cost between $800 and $2500, with professional installation costing extra. This remodeling project is relatively inexpensive and can make a big impression on younger homebuyers once you’re ready to sell.
Whether you’re looking to sell within the year or plan to wait a few years to list, investing in these relatively affordable home renovations will increase your home’s worth, up your potential listing price, and earn you more attention from viable home buyers. We know all too well that many homes in Midland could use a little sprucing up, so consider these 7 home upgrades to bring new life into your property. Interested in checking out some of the newest homes available in Midland? Visit our website to take a look at the inventory we currently have available and give us a call to schedule a viewing today!