6 Tips for Increasing Home Value That Potential Buyers Will Appreciate
“Should I sell my house as-is? Or do I invest in home renovations to increase its value?”
Homeowners who are considering selling often have an internal debate about these two options. On one hand, selling your residential real estate as-is means that you can get the ball rolling on listing your home for sale. The sooner you list it, the sooner you can sell it for cash.
However, listing your home as-is might not attract many buyers. There may be homes in the area for sale that are far more appealing than yours, which is why home renovations are sometimes warranted. So, what’s the secret ingredient to increasing your home’s value?
In this blog, we’ll explore some key home renovations to consider before listing your home for sale.
1. Upgrade Your Flooring
When deciding on home renovations to pursue, it’s always in the homeowner’s best interests to invest in projects that yield favorable return on investment. Flooring just so happens to be one of those.
According to a recent article in Money on home renovation projects, the return on new wood flooring is approximately 118%. Additionally, they report that refinished hardwood floors yield a 147% return on investment.
2. Adding Additional Square Footage
Much of how a home is valued is determined by its square footage. So, what if you could increase that metric? When you make an addition to your home, such as a new bedroom or garage, you create more physical space in the home. Additional square footage equates to additional value.
3. New HVAC Systems
HVAC may not be the trendiest of home renovations, but the return on investment speaks for itself. Plus, modern HVAC units are energy efficient and eco-friendly, which is a huge perk for home buyers.
According to Bankrate, homeowners can count on recouping approximately 103% of their investment into a new HVAC unit and conversion. Although the upfront costs of the conversion are around $17,000 on average, HVAC is a worthwhile investment that pays off in the end.
4. Remodeled Kitchen and Bathroom
According to Better Homes & Gardens, homeowners will recoup at least 50% of their investment in a kitchen or bathroom renovation. New appliances and fixtures are always a safe bet. Home renovators should also try to stay aesthetically neutral or current when making updates. A bathroom or kitchen that is overly eclectic may turn off some home buyers. Ask your home renovation company what upgrades are best for increasing your home’s value.
5. Create Outdoor Living Space
There’s a big difference between a home with a yard and a home with space for entertaining guests and relaxing. Adding outdoor living space makes home buyers feel like they’re getting more bang for their buck in terms of square footage. A deck or a large patio is almost like an outdoor living room.
According to a recent article from Trex, homeowners can expect to recoup approximately 68% of the deck’s cost upon selling the home. If you want your home to stand out on the market, a new deck is the way to go.
6. Garage Door
Replacing your garage door is one of the best home renovations a future seller can make. In addition to improving curb appeal and functionality, Bankrate reports that you can recoup approximately 103% of the garage door’s cost. It’s also worth noting that the average garage door replacement is under $5,000, so it’s not as financially demanding as an HVAC, kitchen renovation, or building a brand-new deck.
Thinking About Listing Your Home? Blue Clover Investments Has Options
Whether you’re selling a newly renovated home or a fixer-upper, Blue Clover Investments offers options beyond the traditional listing method. You don’t have to sell your house using a real estate agent. When you work with Blue Clover Investments, you get everything you need under one roof with concierge-level service.
We use a simple three-step process:
- You contact us and tell us about the property you want to sell.
- We will ask you a few questions about your goals for the sale, including your ideal timeline.
- Finally, we provide with multiple options of selling your home, including a quick cash close offer.
Worst-case scenario: you learn a little more about Kansas City residential real estate and what your selling options are. However, we’re sure you’ll be impressed by what Blue Clover is able to provide home sellers in the KC area.
To kick things off, give us a call at (816) 237-5959. Your initial consultation is completely free and takes only a few minutes. Be sure to check our FAQ page to learn more about what Blue Clover can do for you.
