Home remodeling has become even more popular than ever before to attract buyers. An improving economy, stronger job growth, higher disposable income, more home sales, and current low interest rates. Home owners looking to sell their home this year may want to complete a few upgrades and renovations that will help make their home get noticed among the competition. At the same time, you want to be sure the money that you’re putting into improvements will actually increase the value of your home.
The following are the remodeling trends recommended by Realtor.com and several surveying sites:
1. Curb appeal. According to a report by Remodeling Magazine, the key improvements with the highest Return on Investment (ROI) include the front door and garage door replacements (see our previous article at http://louisvillerealestatechick.com/2015/06/05/front-door-sells-homes), manufactured stone veneer front steps or foundations, vinyl siding, and replacing windows. Each of these upgrades will boost both the potential buyer’s interest as well as the value of a home.
2. Deck addition. At a fraction of the price of an indoor addition, a new deck enhances the landscaping of a yard as well as offers additional living space for additional dining, relaxing and entertaining. Here in Kentucky, most people use their decks for six – eight months out of the year so it’s definitely a worthwhile investment.
3. Bathroom remodel. Buyers are looking for a bathroom that doesn’t look outdated, and even the smallest of bathrooms can look more attractive with the right finishing touches. Key features that will sell a bathroom are updated vanities, wall color, tile, sink, faucets, toilet, and lighting fixtures. You’ll definitely want to get rid of that old pink and green bathroom tile!
4. Kitchen remodel. Without having to completely gut your kitchen, you can simply replace cabinet doors and drawer fronts, and add new appliances, countertops and flooring. These improvements have continued to rank as one of the top renovations for the last 10+ years and kitchens remain the heart of the home. Also see our previous article about adding space to a tiny kitchen:
5. Painting and removing outdated wallpaper. If you don’t have time or money to invest in a remodel, one of the simplest and most affordable solutions is to remove dated wallpaper and add a great new wall color, although you don’t want to go with too bold of a color. Painting walls a neutral color will bring out the home’s best features. This simple and less expensive update will provide an instant appeal to buyers who want to envision living in the space.
6. Reinventing an existing room. Last, but not least, buyers and home owners want as much space as they can get. Remodeling an attic into a bedroom or converting a basement into a home theater, playroom, or exercise room can add usable space to an older home instead of the larger expense of an entire addition.
Before you make any major changes to your home, please call me for a free consultation. Sometimes a ‘neutral eye’ can see things that a homeowner cannot, plus I can help make sure the home remodeling projects really increase the resale value of your home. I look forward to hearing from you!