As a homeowner getting ready to sell, you may be wondering what projects are worth investing in and which ones aren’t in order to improve the value of your home. It can be overwhelming to know where to start, how much money to spend, and what to fix first. We hear these sorts of questions often at Properties West 360.
This snippet from an article on HGTV breaks down the unique challenge of deciphering what and how much to invest in your home; in other words, there are a lot of variables.
“If you’re thinking about sinking some money into home improvement projects this year, keep a few things in mind. What you’ll get back on your investment depends on the value of your house, the value of houses in your immediate neighborhood, the housing market where you live, how soon you sell after making improvements, and the quality of the project itself.”
That being said, there are some general suggestions that can guide you in the right direction. Essentially, this is not the time for grandiose remodels or adding luxury items like a brand new washing machine or bathtub. Stick to the basics, make sure all your maintenance items are taken care of and you’ll be much more likely to get a return on your investment.
Here’s a list of 7 projects worth investing in before putting your house on the market, adopted from this articlepublished on HomeLife.com:
- Update the Flooring (consider removing carpet and replacing with wood)
- Replace bathroom appliances
- Replace taps
- Update window treatments
- Landscape the yard and/or garden
- Get new cupboards and handles in the kitchen
- Put a new coat of paint on the interior and exterior of your home
On the contrary, here is a list of 6 projects homeowners often mistake for worthwhile investments, but actually aren’t, adopted from this article published on Forbes.com:
- Swimming Pools
- Outdoing the neighbors with exterior updates and overbuilding
- Luxurious upgrades (i.e. expensive tile)
- Wall-to-wall carpeting
- Projects no one can see (i.e. updating HVAC unit)
- Over-the-top landscaping
Although these are good recommendations, there is no perfect equation for the right combination of projects that will be accurately reflected in your home’s value. A lot of it has to do with the local housing market and “even the age and style of the house.” The wisest decisions come from good research and maybe even seeking professional advice from a real estate agent.
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