For those interested in maximizing profits from the sale of their home or fix and flip project, its important to be aware of the most important areas for remodel. In the same vein, it is important to avoid wasting precious dollars updating areas that are not all that important. Add value to your home or investment property with these fixes and updates!
Investing in the Kitchen Pays Off
The kitchen is an important area of the home. We tend to congregate there and spend time with family, sharing meals, laughter, and memories. Thus, this room is an important area to update. On average, your investment will pay off with a recoup of 60-120%. Be cautious that your remodel is practical, goes well with the feel of the rest of the home, and is like other kitchens in the neighborhood.
Make Paint Your Friend
Kitchen remodels can get pricey quickly. One of the cheapest, fastest, and easiest ways to give a kitchen a new look is with a fresh coat of paint. Be sure to pick popular colors to make the space appear larger.
With today’s emphasis on being eco-friendly, as well as constantly rising energy costs, potential buyers will be looking for homes equipped with energy efficient appliances.
Add an Extra Bathroom
If the home, you are trying to sell is only equipped with one bathroom this can cause your property to stagnate on the market. Most people are looking for a home with at least two bathrooms, particularly if they have children. Even adding a half bath can significantly increase the value and marketability of your home. Be aware of unutilized space that would work for adding a half or full bath to your home.
Utilize All Available Space
Adding on an addition to a home can be pricey and complicated. Be sure that you make the most out of any useable space available to you. That includes areas above the garage, unfinished basements, and attics. Any of these areas can be finished and turned into game rooms, an extra bed and bath, sewing rooms, family rooms, and more. Maximize a small house to get the best possible return on your investment.
Toss Old Windows
Outdated, worn windows are known to make a home drafty and difficult to heat. This is a major turn off to potential buyers. Invest in new energy efficient windows. This investment will be well-worth it as you will generate more buyer interest with windows that allow your property to boast of low heating and cooling costs.