Generally, few homeowners renovate their homes to sell them because they know they won’t recoup the full cost of the renovations in the sales price. In a lot of cases minor renovations can really improve the overall impression of a property’s character and quality and increase the value.
Here are a few “market-smart makeovers” you might consider:
- Kitchen – New flooring, cabinets, counter tops, appliances, and lighting can be costly, but buyers typically look for updated kitchens, and you’ll recover a large percentage of your expenses on resale. Even a minor facelift – for instance, new paint, floor covering, cabinet doors and hardware – can pay off in a faster sale at a better price.
- Bathrooms – As with the kitchen, renovating bathrooms can pay off in terms of both value and marketability, especially in an older house. Go for good lighting, large mirrors, attractive fixtures, and materials, plenty of storage and neutral colors.
- Energy-Efficient Improvements – With everyone “going green” energy-saving upgrades and repairs that reduce fuel bills can be a selling point.