RENOVATE TO RESALE: What Really Pays Off?
By Tracy Coles , email@example.comThe Hernandez Group, Keller Williams Roswell
In the hot Roswell housing market, home remodeling projects can be an excellent investment—helping to optimize your home’s selling price and substantially increasing its resale value when you seek an appraisal for a home equity line of credit or a new mortgage.
When considering where to sink your dollars for the best return, keep in mind that your city and neighborhood should have an impact on prioritizing home enhancements and budgeting for these projects. For a short list of home upgrades that tend to provide the best pay off in any market, take a look at the most popular home improvements:
1. Basic maintenance: From a buyer’s perspective, it’s often hard to get past structural damage such as a leaking roof and the realization that a home is not fully functionally due to problems with plumbing, an air conditioner that doesn’t work, and broken appliances. In general, people want to know that they don’t have to put additional cash into a home just so that it’s in working order.
2. Exterior improvements: In terms of maximizing your home’s value, perhaps no other enhancement weighs as heavily as the curb appeal factor. Pruning overgrown greenery and keeping your lawn healthy will also pay off in terms of boosting your property’s value. Replacing damaged siding and a new garage or front door can have big impact.
3. Kitchen upgrade: An attractive and updated kitchen is a major selling point for potential buyers. In many cases, you’ll receive the best increase in value with a minor remodel rather than a complete redesign.
4. Minor bathroom remodel: Like kitchens, updated bathrooms are important to buyers. But as with your kitchen, you’ll get the most bang for your buck if you are careful to not overspend on materials or features that other homes in the neighborhood don’t offer or are rarely used
5. Repainting: We’d remiss if we neglected to mention that a fresh coat of paint is one of the easiest, most cost-effective ways to beautify the rooms in your home. Painting the exterior of your home is also a great way to enhance your home’s curb appeal without shelling out major bucks.