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Which Home Updates Will Net You a Higher Sale Price?

If you are thinking about making some updates to your home in order to improve livability for your family or to kick the decor into the 21st century, you may be thinking about kitchen and bath upgrades, adding smart home or renewable energy features, or building an outdoor kitchen and living area. These are all great upgrades to your home that will increase the value as well as increase your enjoyment of your home.

However, if you are considering upgrades in order increase the value of your home for purposes of selling, you may want to pay close attention to those updates that will give you the most bang for your buck. Sometimes, the things that buyers value the most aren’t what you think. Buyers want a home that they can move into and not have to worry about making major changes within the first year. Buying a home takes a lot of resources, and the last thing new homeowners want to do is spend even more money fixing things.

Window Replacement

If your windows are drafty, or if you have the tell-tale cloudy film between the panes, then you may want to consider replacing your windows prior to putting your home on the market. Today’s home buyers are looking for high quality, energy-efficient windows, with double- or triple-panes, low-e coatings, and Argon gas. Cheap, cloudy windows also have a negative impact on curb appeal, which could turn off buyers before they even tour the home. Replacing your windows with high-quality, good-looking options will have a significantly positive impact on the offers you recieve – to the tune of about a 73% ROI, according to Money.com. .

Replace the Roof

Many homeowners don’t think about the roof when they are preparing a home for sale. They assume if there are no leaks, it must still be in good shape. Then they find out, after an offer has been accepted, that the home inspection as turned up cracked shingles or missing shingles and other signs of damage. This could often result in buyers asking for repairs or other seller concessions. If your roof is more than a decade old, or if you have multiple layers of shingles that might catch the attention of an inspector, you may want to consider replacing the roof. It will improve the curb appeal, and it will decrease the chances of damages inside the home due to a faulty roof.  According to Remodeling.com, a new roof can increase the sale value of your home by around $12,000.

Give Your Bathroom a Refresh

When many people think of bathroom renovations, they think about complete tear-outs to the studs, or bathroom expansions that add square footage and luxury features like soaking tubs and walk-in showers. While these types of renovations can be beautiful, they are also extremely costly – to the tune of $25K or more. They will increase your home value, but the updates may not be worth it if you are going to be selling your home in less than 5 years.

Sometimes, a minor refresh is all that is needed to make your bathroom look great and to also net you the best ROI. Replacing flooring, putting in new tile surrounds, or even a sparkly new tub can transform your bathroom. If have the budget, updated faucets and lighting, and a fresh paint job can add additional value. Making smart, simple updates can give you as much as 100% ROI.

Add a Little Kitchen Magic 

Kitchen are also an area where smart choices will net you the most bang for your buck. You don’t have to spend $100K on a large-scale kitchen reno to get a boost in offers you receive. If you can afford to gut your kitchen and replace everything from the studs in, then you can make some strategic choices to amp up the look of your kitchen. For instance, replacing the cabinet doors, or sometimes even just the cabinet hardware, can give room a fresh look. A brand new sink and faucet, especially of you splurge on a high-end faucet, can have a dramatic affect. Updated countertops will also be a great selling point for your home, if you have the budget. Add a fresh coat of paint, and voila! You have beautiful, bright kitchen that can be a focal point of the home. According to Nerdwallet, just simple, strategic changes can net you 80% ROI.

Increase Entryway Appeal

No matter how many colorful potted plants and solar walkway lights you install to increase curb appeal, you can’t camouflage a shabby front door. This is one of the first things prospective homeowners will see, and their opinions of the rest of the home may be colored by how welcoming your front entryway is. Sometimes, a coat of paint is all that’s needed, but a brand new door can give you an 85% ROI, per Consumer Affairs. Add a really nice door handle, shiny kickplate, and a new knocker, and you are all set to wow guests and prospective buyers, alike.

Your Realtor® can be a great asset in helping you determine what types of renovations are best suited for your neighborhood and price point, and will net you the best ROI for your budget.  We are here to help! When it is time to sell or buy a home, having a local team you can rely on will make the process a smooth one. Call the Realtors® who love where they live and understand the local real estate market. ADMC Realty Group happily serves the communities in and around the Washington DC, Maryland, and Northern Virginia areas. From start to finish, we’re here to help with all your Real estate needs. Give us a call at (202)596-8101 or email us at [email protected].

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