Top 5 Upgrades that Pay for Themselves

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Real Estate

When you're looking to make big changes in your house, chances are that your top deciding factor always includes resale value - you want to do what works for you and your lifestyle. But unless you're planning to make this home your forever home, you may want to take a few other factors into consideration. You want to make sure that you're spending your money on things that will hold (and recoup) their value.

That's particularly true if you're fixing up your home to put it on the market - you may think that the more updated your home is, the better the chances of maximizing your return will be. That's not necessarily true in every case.

Before you make any decisions about big upgrades, it doesn't hurt to have a professional give you a valuation based on your homes condition and current market values. They'll also be able to help you understand how upgrades can affect the value of your home - armed with that understanding, you can make solid decisions about where to best spend your hard-earned dollars.

That said - there are some things that traditionally hold their value well enough to consider safe bets.

 Top 5 Upgrades that Pay for Themselves

#1 - Bathroom Refresh
Updating your lavatory - just a surface upgrade, not a full scale remodel, generally can recoup up to 100% of the cost of the changes. New tile, paint, vanity - even tub, toilet and sink - all make a big difference to a buyer looking for a new home, and you can roll that cost right into the upgraded purchase cost of your home.

#2 - Curb Appeal
First impressions - you know what I'm talking about here. If someone rolls up to your home and their first impression is to grimace a bit - or are even just unimpressed in general, chances are yours is not the home that will rise to the top of their list - even if your home has all the makings of what they're looking for. Making a few quick changes to the exterior of your home can help set the stage for a memorable experience. Clean up flower beds, add new mulch and fresh color. Trim back and shape hedges, trees and bushes - mow the lawn, rake leaves, and make sure the yard is neat and tidy. A fresh coat of paint on the door, freshly scrubbed (hello, power washer!) siding, a few well-placed potted plants and a brand new doormat make the buyers first visit to your home one that stays fresh in their mind. Value? An average return of 100%.

#3 - Kitchen Upgrade
By upgrade here, I don't mean anything that requires a sledgehammer - that costs a whole lot more upfront and doesn't guarantee any kind of return. But consider refacing or painting outdated cabinetry, installing new lighting, updating the flooring and freshening up the paint with a bright, neutral color. Average recoupment rate? 98% - compared to a 90% return rate for a major kitchen remodel.

#4 - New Garage Door
A new garage door makes a huge difference in the curb appeal and general upkeep of the home. Installing a new garage door that matches the exterior of the home, and even enhancing it, has the potential to carry of return of 98%.

#5 - New paint
Painting is one of the most cost-effective and beneficial things you can do to increase the appeal of your home to potential buyers. Choose colors that are current without being overbearing. Subtle, neutral colors allow potential buyers to visualize their own furnishings in your home.

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What do you think? Are you ready to make some big changes to increase the overall value of your home? If you're not sure what steps you can take to make your home buyer ready. I'd love to come by and help you figure out what would get you the biggest return on your investment.

Give me a call - or send me an email. I'm here for you.

When you're looking to make big changes in your house, chances are that your top deciding factor always includes resale value - you want to do what works for you and your lifestyle. But unless you're planning to make this home your forever home, you may want to take a few other factors into consideration. You want to make sure that you're spending your money on things that will hold (and recoup) their value.

That's particularly true if you're fixing up your home to put it on the market - you may think that the more updated your home is, the better the chances of maximizing your return will be. That's not necessarily true in every case.

Before you make any decisions about big upgrades, it doesn't hurt to have a professional give you a valuation based on your homes condition and current market values. They'll also be able to help you understand how upgrades can affect the value of your home - armed with that understanding, you can make solid decisions about where to best spend your hard-earned dollars.

That said - there are some things that traditionally hold their value well enough to consider safe bets.

 

 

Top 5 Upgrades that Pay for Themselves
#1 - Bathroom Refresh
Updating your lavatory - just a surface upgrade, not a full scale remodel, generally can recoup up to 100% of the cost of the changes. New tile, paint, vanity - even tub, toilet and sink - all make a big difference to a buyer looking for a new home, and you can roll that cost right into the upgraded purchase cost of your home.

#2 - Curb Appeal
First impressions - you know what I'm talking about here. If someone rolls up to your home and their first impression is to grimace a bit - or are even just unimpressed in general, chances are yours is not the home that will rise to the top of their list - even if your home has all the makings of what they're looking for. Making a few quick changes to the exterior of your home can help set the stage for a memorable experience. Clean up flower beds, add new mulch and fresh color. Trim back and shape hedges, trees and bushes - mow the lawn, rake leaves, and make sure the yard is neat and tidy. A fresh coat of paint on the door, freshly scrubbed (hello, power washer!) siding, a few well-placed potted plants and a brand new doormat make the buyers first visit to your home one that stays fresh in their mind. Value? An average return of 100%.

#3 - Kitchen Upgrade
By upgrade here, I don't mean anything that requires a sledgehammer - that costs a whole lot more upfront and doesn't guarantee any kind of return. But consider refacing or painting outdated cabinetry, installing new lighting, updating the flooring and freshening up the paint with a bright, neutral color. Average recoupment rate? 98% - compared to a 90% return rate for a major kitchen remodel.

#4 - New Garage Door
A new garage door makes a huge difference in the curb appeal and general upkeep of the home. Installing a new garage door that matches the exterior of the home, and even enhancing it, has the potential to carry of return of 98%.

#5 - New paint
Painting is one of the most cost-effective and beneficial things you can do to increase the appeal of your home to potential buyers. Choose colors that are current without being overbearing. Subtle, neutral colors allow potential buyers to visualize their own furnishings in your home.

--------

What do you think? Are you ready to make some big changes to increase the overall value of your home? If you're not sure what steps you can take to make your home buyer ready. I'd love to come by and help you figure out what would get you the biggest return on your investment.

Give me a call - or send me an email. I'm here for you.

801.661.2166 - dawnmovesyou@gmail.com