It is clear that if a homeowner wants to get the best possible price when selling their home then a well-timed remodel can be a great idea – but not always. We are looking at details from the National Association of Realtors and the results of their exhaustive survey. Read on to get details on which projects are the most profitable and may make sense for you. Then reach out to Berkshire Hathaway HomeServices at (310) 373-0021 for more tips for selling your home.
Kitchen upgrades are generally a good investment
For many modern families, the kitchen is the heart of the home. In most kitchens, a major renovation is not necessary. In fact, according to the NAR, small improvements to the kitchen can have a big effect on the bottom line and a great return on investment. On average, a small kitchen remodel yields a 12% higher profit margin when compared to a major renovation. Additionally, a smaller kitchen remodel that includes countertops, cabinets, and other functional matters averages a return of investment of 79%.
As a result, just refinishing the cabinets in your home, or adding new hardware can have a big impact. If you have a bigger budget then you can actually replace the cabinets themselves or perhaps replace the countertop with a newer, more popular material like quartz or granite. If you have an even larger budget, then you may want to consider adding new appliances. The goal as the seller is to make the kitchen feel as new as possible without doing a complete overhaul.
Upgrades to entryways / foyers can make a big difference
Consider that many potential buyers are going to make a decision within seconds of walking into your home. As a result, ensuring that your front door, entry way, and foyer impress them can pay off. You may add exterior trim for your front door. You can remodel an old tile entryway with newer, more affordable flooring types. Adding new lighting and fresh paint can make a big difference as well.
Bring floors into the current decade
Many flooring types last for decades which means they are often one of the last things to be updated. If you have flooring in your home that was in style 50 years ago then it is time to upgrade to something that’s in style today. There are so many affordable options, from tile to wood planks, and the right flooring makes a big difference. Many home buyers say they are willing to make minor changes to a home but want it to be mostly move-in ready – and those buyers do not consider flooring to be a minor change.
If you are not sure what updates make the most sense for your home, or you simply need help selling your home, then you will appreciate the help of Berkshire Hathaway HomeServices. Contact our offices at (310) 373-0021 or contact@bhhscp.com and we will get to work for you.