Top 5 Most Valuable Home Upgrades
One of my favorite parts of my job as a home appraiser is speaking with the home owners during my inspection. I really enjoy learning more about the people I meet and their homes and their histories. One question seems to come up in just about every conversation I have with the home owner, “I want to make upgrades to my home, what will give me the most bang for my buck?”
My first response to this question is, do what makes you most happy. If that installing a $10,000 fireplace or converting a bedroom into a custom movie theater room, then do it! Your needs and wants are the most important.
I have compiled a list of the 5 most common upgrades and updates for your home that will give you the most value for your money when looking to sell.
#5 Paint
This easy fix often gets overlooked. Many homeowners have a hard time seeing the value in new paint since the home is already painted. I’ve heard from many homeowners, “If the paint isn’t fading or cracking no one notices.” This statement is false; people notice everything when they are spending money a new home. Painting your house a neutral color or something in line with the current trend really makes the home standout. This update is very inexpensive if you choose to do it yourself. Hiring a painter to get the job done is relatively inexpensive as well and it will be done quickly.
#4 Landscape
Dead grass, overgrown weeds & unkempt gardens are all huge eyesores when trying to impress a buyer. Nicely maintained green grass and beautiful flowers in the garden are expected in this market and help the buyer envision their kids playing in the yard or relaxing with friends in the back yard.
Along with fresh paint, some minimal landscaping can easily be done without paying for professionals. Healthy green grass, pruned trees, freshly planted flowers and bushes are all minimal landscaping jobs that have a big value in the long run.
#3 Flooring
Fresh clean flooring in a home is very important. It could be new hard wood, tile, snap together laminate or carpet, whatever your budget allows, will add value to the home. Stained and torn carpet, broken old tile and scratched wood are immediately noticed as an additional expense and work that the buyer has to do. If possible I would try to avoid installing the cheapest, low end carpet, linoleum or snap together flooring as the quality is seen and heard by the home buyers. However, if that’s all you can afford, it is much preferred to old worn flooring.
#2 Bathrooms
A bathroom update can be as simple and inexpensive as wallpaper removal, new paint, adding crown molding and/or replacing fixtures. Or you can go all the way to the higher end items including, a new vanity, counter tops, tub/shower updating and replacing flooring. A beautiful trendy bathroom is a great way to show off a room that everyone uses and the buyer desires.
#1 Kitchen
Quite possibly the most important room in the house, the kitchen. It’s where mornings start, people hang out and families gather. This is by far where you can get the most value with an update and remodel. With the popularity of kitchen remodels, there are many amazing things that be done to boost your value. From basic counter top upgrades and hardware changes, to very expensive and elaborate remodels from floors to ceiling. My advice is to make upgrades based on your home’s value and the neighborhood standards. For example, a 100,000 remodel on a home worth 200,000 is over improving for the neighborhood and isn’t going to result in the maximum return on your investment. Stick with the basics, upgraded counter tops, nice flooring, upgraded cabinets or hardware and stainless steel appliances if possible.
