Stumped as to which home upgrades make sense and that can increase your home worth? Interested in renovations for value, but you’re unsure what to tackle? I have a few simple guidelines I use to help clients narrow their scope and focus on the right choices.
Question #1: How long will you live in your house?
If you’re hunkering down for the next decade or two, don’t hesitate to do what you would most appreciate in your home. This is especially true of cosmetic changes, when appealing to potential buyers is a non-issue. After a decade or two, your upgrades might need upgrades, so go with projects that make the most sense for your taste and the way you prefer to live in your home.
More: Top 5 Things to Get Rid of When Selling a Home
Question #2: What have the neighbors done?
There’s wisdom in getting an idea what the surrounding homes look like. On one hand, you may get inspiration from ways in which your neighbors have transformed homes which are probably similar to yours. On the other, you’ll get an idea how much renovation you can get away with in your market. Visit Open Houses and Builder Model Homes for renovation & upgrade trends.
Question #3: What’s a hassle in your house?
If something in your home is a hassle, it’ll probably bug prospective buyers as well. Is there limited storage space? Nowhere for guests to stay? An old-fashioned bathroom with a funky layout? There’s good reason to handle these headaches. You’ll not only enjoy the upgrade while you live in the home, but you’ll improve it for buyers when the time comes to sell.
More: 10 Little Fixes to Sell Your Home Faster
Question #4: How much value will this add to our selling price?
When you get down to mid-large renovation projects, there are details to consider, such as budget, timing, and design choices. It’s important to know what upgrades buyers are looking for today and are willing to pay premium for. Reach out to a profession so you can avoid making costly mistakes.
I’m available to offer my professional thoughts on possible upgrades. Get in touch if you’d like me to stop by for a walk-through of your home. I’ve seen hundreds of homes and would love to provide a helpful perspective!
Sean Blanchette
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