One of the top priorities for most home sellers is to attract potential buyers while maximizing their sale price. While this might seem fairly straightforward, it can be difficult to strike the right balance between the two. For one thing, potential buyers often have the opposite goal (getting the most for their money). And for another, unless you’re living in a pristine home with features that have never gone out of date, chances are you might need to invest a little more to give your home that extra oomph. That’s where home improvement projects come in. In fact, home renovations are such a fantastic way to increase the value of your home, that homeowners spent a whopping 420 billion USD in 2020 doing just that. However, it’s important to remember that not all renovations are created equal. With that in mind, here are the top 5 best renovations to do before selling (and 3 projects you can skip).
The 5 Best Renovations to Do Before Selling for Maximum ROI
#1: Kitchen Remodel
It’s true that the kitchen is the heart of most homes. So it should come as no surprise that a kitchen remodel leads our list of best renovations to do before selling. A kitchen remodel addresses one of the most important areas of buyer interest while enhancing the overall functionality and aesthetics of the home. It’s one of the first rooms that potential buyers gravitate towards during open house events and showings. When done right, a modern, fresh kitchen can even negate the impact of other less updated rooms.
When taking on a kitchen remodel, you may want to consider upgrading a few key features, including countertops and cabinetry, appliances, lighting fixtures, flooring, and hardware. If you want to take it a step further, try to maximize storage space and make changes to the layout if needed.
#2: Bathroom Remodel
Next on our list of best renovations to do before selling is a bathroom remodel. Updated bathrooms are highly appealing to most buyers. A freshly renovated bathroom can enhance the attractiveness and marketability of the entire home. It’s also another project that enhances functionality for the owners-to-be. This is especially the case with younger generations, who view the bathroom as a sanctuary for self-care and relaxation.
If you’re taking on a bathroom remodel, we highly recommend maximizing storage space and updating the plumbing fixtures. Aesthetic items like modern vanities, fresh flooring, and an upgraded shower or tub can also make a big impact.
#3: Curb Appeal Enhancement
Enhancing curb appeal is one of those things home sellers might get tired of hearing about, but it’s essential to maximizing your sale price. Not only does curb appeal make the first impression for potential buyers, but it also sets the mood for the entire home showing experience. In fact, improving your home’s curb appeal (much like a kitchen remodel) can make up for a more dated interior. This is because buyers often associate a well-kept exterior with a well-cared-for property, which can lead to higher offers and a quicker sale.
When taking on curb appeal projects, you can’t go wrong with attractive landscaping, fresh paint, clear driveways and walkways, and an inviting entryway.
#4: Add a Patio or Deck
If it’s within your budget, adding an outdoor patio or deck can significantly boost the value of your home. It effectively extends the usable living space of your home, particularly during the spring and summer months, and they are highly desirable to most home buyers. Patios and decks provide a versatile space that can be customized to suit the home buyer’s lifestyle and preferences.
#5: Energy-Efficient Upgrades
And finally rounding out our list of the best renovations to do before selling your home is making upgrades for energy efficiency. Energy efficiency is becoming a higher priority for many homeowners. For that reason, a home with energy-efficient features is often more marketable and appeals to a broader range of potential buyers. You might also be able to qualify for government rebates and incentives by taking on certain projects. Your real estate agent will be able to provide you with the details.
3 Home Improvement Projects to Skip
While most home renovation projects have at least some value to them, there are several you can skip due to much lower ROI. In fact, some of these might even negatively impact the value of your home:
Excessive landscaping—While landscaping can improve curb appeal, excessive or overly elaborate landscaping projects may not provide a good return on investment. Projects such as installing intricate garden features, extensive hardscaping, or overly elaborate landscaping designs may not significantly increase the home’s value and could potentially deter buyers who prefer low-maintenance outdoor spaces.
Over-improvement for the neighborhood—Be careful not to over improve your home. Renovations that significantly exceed the standard of neighboring properties can result in a negative ROI.
“Trendy” decor—Remember the textured walls from the early 2000s? Or the pseudo-Tuscan style kitchens that swept the nation in the late 90s? Neither of those would go over well with most of today’s home buyers. In general, it’s a good idea to stay away from trends and stick to a simple, timeless aesthetic with a broad appeal.
Other honorable mentions include pricier upgrades like installing a pool and garage space conversions.
Sell Your Home With Support from CENTURY 21 Bolte Real Estate
Outside of home improvement projects, our number one tip for selling your home is to partner with a real estate professional who is invested in your success. At CENTURY 21 Bolte Real Estate, we’ve been serving the needs of home buyers and home sellers in the North Central Ohio area for more than 80 years.
We’re a team of passionate professionals who are dedicated to helping you reach your real estate goals. Whether you’re a first-time home buyer, a current owner looking to sell, or you’re interested in acquiring some investment properties, we have the expertise to help.
Reach out to our team today to get started.
