Taking on a home renovation is never easy. From the get-go, we’re only thinking about the end result. Just picture that beautiful new tile floor, those gorgeous new windows or a full-on kitchen remodel, complete with green-friendly appliances. But, what happens if you never get to enjoy the luxuries of your newly finished renovation because you’re moving? Yes, many homeowners decide to renovate before selling, as the right project can have an impact on the resale value.
Large-scale renovations will not add enough equity value to your home in order to realize a profit or move towards breaking even. For this reason, when selling you should avoid major home remodels and look to take on smaller or pressing projects. Curious to know more? We’re here to offer our renovation tips that’ll help you sell your home!
For any home renovation, it’s important to do ample research regarding the project specifics, the city or municipal rules and regulations as well as market conditions. Especially when it comes to selling your home, you’ll want to check the average market price for similar homes. We’d also suggest visiting open houses of properties being advertised as newly renovated. Check for common updates and renovations in these listed homes. Make a list of the remodels done and consider the sale price in relation to them. Below, you’ll find our suggestions for renovations that you should focus your attention on.
Yes, in this article we’ll discuss renovation projects that focus on the appearance of your home. However, first, we’re going to start with a fundamental consideration if you’re renovating for resale value.
Improving your home’s energy efficiency will make a huge difference in the value of your property, not to mention, you’ll have an impact on greenhouse gas emissions. This type of renovation will come in many different forms and depend on the existing structures and appliances in place. Energy-efficient upgrades can include the following:
New buyers may tend to favour homes with energy efficiency efforts or appliances in place. Thus, this will offer you a positive return on your investment. If you get these renovations done a few months before selling your home, you may even be so inclined to provide your realtor with copies of your energy bills before and after renovations, as an example of the ongoing costs with green-friendly measures in place.
When potential buyers arrive at your home, the first thing they’re going to notice is the exterior. You won’t get a second chance at that first impression. Thus, you need to make it count. Focusing on freshening up the cosmetic details on your home’s exterior can instantly offer your house that extra boost it just might need. Some ways you could update your home’s facade are as follows:
Take a walk around the exterior of your home with a friend or loved one and see if they happen to spot any glaring issues. If it’s noticeable, it should definitely be dealt with before you try and sell your home.
Due to the amount of moisture present in your kitchen and bathroom, these rooms generally deal with the most problems and require the most repair efforts. As a result, prospective buyers will be extra careful to inspect these rooms and you should be prepared! If you’re going to spend money anywhere when trying to resell your home, the kitchen and bathroom are the places to do it and realtors will likely agree.
Not only will potential home buyers take a good, hard look at these rooms but they’ll also be likely to calculate the costs involved with taking on the remodel themselves. For buyers, having to renovate a kitchen or bathroom will be a major deterrent. Other areas such as living and dining rooms, attics, garages and so forth can be forgiven as they’re much cheaper to renovate. But a terrible bathroom or living room has the potential to completely ruin the sale.
Kitchen and bathroom countertops are an important area since they’re highly visible. Make sure to replace worn materials with higher quality, eco-friendly or durable options. Cabinets are another aspect of the kitchen and bathroom where it will be obvious if there are issues, as they sit directly at eye level. If our cabinets aren’t in good condition, then invest in new ones.
Depending on their material and the state they are in, a detailed paint job could do the trick. Updating fixtures in these rooms is another go-to for things to look refreshed and revived. Do bear in mind that new fixtures can be expensive. If you're ready to renovate these rooms but need more information, check out our articles on the subject:
As we mentioned in our introduction, if you’re renovating to sell your home, we suggest avoiding large-scale projects. Replace old, outdated or unattractive materials with newer, fresher or modern materials wherever possible. This could mean ripping out carpet, redoing a floor, repainting your walls and so forth. In some cases, you might want to refurbish these areas, such as updating your home’s hardwood floor by cleaning, sanding, buffing and refinishing it. Opt for ways that things could be refinished rather than replaced. This is because new materials will always cost more than fixing things up.
As we’ve suggested, painting is an excellent way to completely transform a room of a home. Do a little bit of research regarding colours that are modern as well as timeless. Bright colours will reflect ambient light whereas deep shades darken a home. If you’re working with small rooms, then it’s important to try to open them up. Don’t forget about that ceiling, repaint those too!