The process of selling a home in the head of so many people goes as follows - they put up a sign, get a call from a buyer, get paid, and hand over the keys. Easy peasy. But if only selling a home was that easy. Selling a property is a bit more complicated than that, especially if you are doing it by yourself.
You can save yourself a lot of stress by hiring a real estate agent or even selling using a Scottish property auctioneer which tends to be very fast and cuts off legal and agent fees. Many quick buyers also offer a fair price, so you may decide to deal with one that is highly rated or recommended.
When you want to sell your home, you most likely want to get the best price. And for this to happen, you may need to make some renovations. But you need to be smart about the renovations you make. Why? This is because not all improvements pay for themselves.
Ideally, you want to undertake renovation projects that will result in maximum value for the least amount of effort and cost. So, it all comes down to knowing which upgrades are worth the expense and those that are not. In this article, we'll be discussing five home renovations that are worth it below.
Below are some of the best renovations that add the most value to home:
1. A Fresh Coat of Paint
Adding a fresh coat of paint is one of the simplest renovations you can make to boost the value of your home when you want to sell it. A good paint job makes a home more appealing and tells prospective buyers that the property is cared for. You can also expect a great ROI when you sell a property after a paint job.
Both the interior and exterior of your home should be painted. The exterior is important for making a good first impression and can even make your home stand out from the crowd. The interior should also be given as much attention because while the exterior may attract buyers, the interior can make them solidify or lose their interest.
Choose plain and neutral colours like grey, white, charcoal, beige, or light blue as they are bound to appeal to a wide range of buyers. Bold and trendy colours can quickly go out of style. They may also make your house stand out for the wrong reasons.
If prospective buyers don't like the neutral colour of your home, they can easily paint over it. After all, neutral colours also depersonalise your home and create a clean slate for prospective buyers.
2. Minor Kitchen Renovation
One of the most important things people consider before deciding to buy a home is the kitchen. So, your kitchen has the potential to be a deal breaker or "deal maker." It depends on how it is perceived by prospective buyers.
Ideally, you should create a functional and modern-looking kitchen. But don't go overboard to create your own dream kitchen. What appeals to you may not appeal to everyone. You are also more likely to lose money on big kitchen renovations.
Like the rest of your home, paint your kitchen walls in light neutral colours. Repair damaged cabinets and install new countertops if you have the budget. Change the sink if the current one is no longer functional or is outdated.
Don't forget about the lights. New light fixtures alone can give your kitchen a more modern feel. You may be able to save some money on your kitchen renovations if you are good with tools. But don't overestimate your abilities. Get a professional if you don't know what you are doing. You don't want to spend more by getting an expert to fix your mess or visit the emergency room in the worst case scenario.
3. A Bathroom Renovation
The bathroom is another part of your home that may convince a buyer to close the deal. But whether you should renovate your bathroom or not depends on the current state and the expenses. If you recently upgraded your bathroom, then a few improvements may be all you need. You'll also recoup your expenses when you sell your home.
On the other hand, if your bathroom requires significant work, you should consider opting for small, meaningful improvements. Don't create a luxury bathroom. You'll most likely not recoup your expenses and people like personalising their bathrooms themselves anyway.
Depending on your budget, you can grout worn out tiles, and replace old taps and showerheads. If you have more budget, consider replacing the vanity, faucet, and re-caulking the tub. You can refinish the tub or replace it and install new floor and wall tiles for a bigger change.
These changes will make your bathroom more appealing and allow you to sell your house for more. If your bathroom is in a bad shape and you don't want to spend on it, you may consider selling your house "as is" which tells the buyer you are not willing to repair or improve the property before they buy it. But it'll fetch you a far lower price.
4. Redo The Floors
If the floors of your home are damaged, you have no option but to fix them. There are very few things that are as depressing as showing up to a home with ratty outdated carpeting or scratched-up wood flooring. Giving prospective buyers a discount on damaged floors isn't attractive enough in most cases. So, damaged flooring should automatically be repaired.
If you already have hardwood floors, consider a refinishing job. You can also replace your tiles, fake wood, and carpets with hardwood floors. But this requires a significant improvement. If you don't have the budget, you are better off fixing damaged flooring then. A new carpet or tiles in good condition will make a lot of difference.
If you decide to install new tiles, ceramic tiles are favoured by many buyers alongside hardwood, don't choose unique patterns that only appeal to you. Try to choose patterns that are bound to appeal to a wide range of people.
5. Finish Your Basement
If you have a basement, finishing it is a great way to increase the value of your home. Install insulation, frame the walls, and install drywall. Don't forget the flooring and ceiling. It's going to require a significant improvement but it allows you to get maximum value from the sale of your home.
Remember to get building permits when finishing your basement. Else, the value of the renovation may not be able to reflect in the price of the home.
The outside of your home is important for attracting buyers and closing deals. A well-maintained lawn is a small improvement that can significantly add to the value of your home. Clear weeds, remove any high maintenance plants or trees, and edge your sidewalks and driveways.
As you can see, there are many ways you can renovate your home before you sell it. It depends on how urgent you want to sell your home since some renovation projects can take some time. Also, your budget determines the type of renovation you go for. Consider the costs and benefits of a renovation project before embarking on it to make an informed decision.
