If you are getting ready to sell your home, you probably have a running list of the repairs and improvements you need to make in order to increase the value of your home. Putting careful consideration into which projects you choose can result in a valuable investment that recoups most or all of the cost of the project. To get the most out of your home improvements, consider these updates:
Before you think about making cosmetic improvements, make all needed upgrades, repairs or replacements to the home’s plumbing, heating, electrical and sewer systems. Buyers want to make sure that these basic items are in working order and won’t need to be replaced in the near future.
Outdoor Replacement Projects
According to Remodeling Magazine, replacement projects will give you more added value than remodeling projects. Consider replacing the garage door, siding, front door and/or windows. The average return on investment for replacing these things is almost 72 percent!
Adding an attic bedroom is one of the best home improvement projects you can do to increase your home’s value. Although this remodel can be expensive, you can expect to recoup almost 73 percent of the cost of adding the attic bedroom when you sell the home.
In 2011, bathrooms became more important to home buyers than kitchens. According to the National Association of Home Builders, even a half bathroom may add up to 10.5 percent to a home’s value, while a full bath can add 20 percent. If adding a bathroom is not financially viable, consider giving the existing bathrooms a fresh coat of paint, new fixtures and new flooring to add value.
While most new homes come equipped with plenty of storage, older homes tend to lack some storage options like coat closets. If you don’t have the space to expand or build closets, consider redesigning the spaces you do have.
One of the most important things to remember when considering home improvement projects is not to go overboard. Your neighbor’s homes also determine the value of your home, so don’t make improvements that will bring your home’s value significantly over the general value of the homes around it.
If you are looking for a home in the Waukesha area, talk to a Loan Officer at Sunset Bank and Savings. We are a great source for mortgages and want to find the best solutions for you. Contact us today!