High Value Renovation Tips to Boost Your Home’s Worth
The housing market is on fire right now, and many homeowners (and first-time buyers!) are taking advantage of the excitement and putting their homes on the market. While some homes are ready to sell and at the top of their value, others may need a little help from some simple renovations. Whether you are a homeowner looking to sell, or simply want to freshen up your space while boosting the worth of your home to sell in the future, here are a few creative North Phoenix home remodeling tips that will combine both increased value and current comfort for your home.
Remodel with Resale in Mind
Unless you are 100% certain that you will be living in your current house for many years or perhaps the rest of your lifetime, it is a good idea to keep resale value in mind with any renovation projects you do. While resale value does not have to drive the entire project and it is important to consider our own lifestyle and needs, it does play a strong part in deciding how much of an investment and budget you want to put into your home.
Walk around your home with your real estate agent and discuss whether any basic home improvement projects may help facilitate a quick sale, and determine whether you are personally willing to accept a lower price overall for the home to compensate for its current condition. If a renovation project sounds too overwhelming, time-consuming, or financially difficult, you may be better off to skip that part of the plan and be happy with the price you can get. However, if time and money are not an obstacle, a few simple North Phoenix commercial and tenant improvements can greatly increase the value of your house.
Renovating inside an apartment certainly has its differences when compared to house renovations. Typically, there is a management board or company responsible for the upkeep of the building systems, its exterior, and the landscaping. Ultimately this simply means you bear no responsibility for those areas, and are free to focus on other interior aspects such as Mesa kitchen remodeling or bathroom updates. Cosmetic improvements such as fresh paint or hardware updates can make all the difference in the visual appeal and value of your apartment.
Priorities while selling a house are much different than an apartment. Homeowners are responsible for both indoors and out, including systems, landscaping, and more. Because of this, real estate agents typically encourage homeowners to focus their investments on any necessary repairs or updates to all the systems of the home, the structural situation, and the exterior appearance.
While these projects may cost more initially, the investment will ultimately pave the way for your home to sell quickly and for the whole process to be much smoother than waiting for repairs and concerns to be discovered during the inspection.
Highest Resale Value Interior Upgrades
Ultimately, if all the systems in your home are in excellent condition, it is important to focus your money and time on the visual aspects that will catch the eye of a buyer. The expert North Phoenix commercial remodeling team at Valcon General have compiled a short list of interior projects that tend to bring the most return in a home resale:
– A minor kitchen remodel costing approximately $24,000 has a resale value of $18,000, and recoups 77%
– A major kitchen remodel costing approximately $69,000 has a resale value of $41,000 and recoups 58%
– A bathroom remodel costing approximately $21,000 has a resale value of $14,000 and recoups 64%
– A fancy bathroom remodel costing approximately $68,000 has a resale value of $38,000 and recoups 56%
– A bathroom addition costing approximately $50,000 has a resale value of $27,000 and recoups 54%
These are just a few examples of the return you could profit from investing some extra time and money into your home before putting it on the market.
Upgrades on a Budget
Sometimes there is very little financial wiggle room for renovations, and a homeowner simply cannot afford a full-on Mesa bathroom remodeling project or North Phoenix patio remodeling. Fortunately, there are quite a few “quick fixes” for homeowners on a tight budget that can easily increase visual appeal of your home and up the value at least a little.
– Fresh Paint – Realtors often encourage using neutral paint colors inside your home for resale. If the current colors are bright or unique, it could be a deterrent to a potential buyer, since they see it as a project waiting to happen as soon as they move in. Though you may love bright, unusual colors, most potential buyers will not, and it is easy and affordable to put a fresh coat of neutral paint over the walls.
– New Cabinet Panels – Updating the existing front cabinet panels can go a long way toward freshening up a dull kitchen space. The most budget-friendly option is to simply sand and paint/stain the existing surface. However, you can choose to hire a professional to completely swap them out for new ones.
-New Hardware – Potential buyers will more likely shy away from your home if they see outdated cabinet hardware and light fixtures. The good news is that these are offered in a wide range of prices, so you can choose something quite inexpensive. Simply having fresh new hardware or fixtures in your home, regardless of its price, will really step up the appearance.
– Freshen Up the Floors – Any flooring material that is scratched, peeling, torn, cracked, water-damaged, or shows any other signs of wear, really should be redone or replaced before attempting to sell your home. Potential buyers do not want to see a project waiting to happen when they step foot into your home, and they will likely be concerned about the existence of mold or structural issues if they see damaged flooring. Additionally, carpets are out of style and are better off being ripped out and replaced with a simple laminate wood flooring. A fresh, clean floor goes a long way toward increasing the visual appearance of a home.
Upgrades for a Single Room
Consider that you may not need to do a large-scale renovation project to increase the value of your home. You may simply need to choose one specific space or room in the house that needs more priority and attention than others.
– Kitchen – The kitchen is one of the most important spaces in the home for buyers. It is typically immediately visible upon entry to the home or apartment, and warrants extra attention during renovations. Whether that means replacing the hardware, updating the cabinets, switching the light fixture, purchasing new appliances, a fresh coat of paint, new backsplash – all of these things can be done affordably and will have a heavy impact on the resale value of your home.
– Bathroom – The bathroom is also one of the most important spaces in a home for potential buyers. A fresh, modern, clean bathroom is much more appealing than a worn, used, dark bathroom. The more natural light, the better, and the brighter you can make the bathroom, the better. Some of the easiest and most affordable ways to improve a bathroom are to paint, change out the medicine cabinet or mirror for an updated model, re-tile the shower and tub area, a professional tile and grout deep clean, and adding functional storage space.
– Space – Depending on your house or apartment, adding flex space is very helpful for increasing value. Add glass sliding doors to separate a large dining/living space, build a half-wall to designate an office or play area, or install pressurized walls to create the illusion of more rooms and space.
Lastly, do not overlook the exterior curb appeal of your house. Whether you are on a tight budget or have more financial flex room, there are quite a few different options for upgrading the exterior or landscape that will quickly increase the resale value and give you a good return for your investment.
– A garage door replacement costing approximately $3600 has a resale value of $3400 and recoups 94%
– Installing stone veneer to replace vinyl siding costs approximately $9400, has a resale value of $8900 and recoups 95%
– Adding a wooden deck costs approximately $14,000 and has a resale value of $10,400, recouping 72%
– Fiber-cement siding replacement costs approximately $17,000, has a resale value of $13,000 and recoups 77%
– Installing a steel entry door costs approximately $1800, has a resale value of $1200 and recoups 68%
Other ideas include:
– Repairing the driveway, costs about $1,000-$5,000
– New house numbers, costs about $10-$100
– Freshening up landscape, costs about $200-$2.000
– Exterior repaint, costs about $5,000-$15,000
Hire a Professional
Work closely with your real estate agent to determine which areas of your home need to be prioritized for updates and renovations. Then find a professional contractor such as Valcon General to be in charge of your remodeling projects! Since 2008, we have been providing professional, reputable contracting services to Phoenix and the surrounding areas. With impeccable attention to detail, affordable prices, and free estimates, Valcon General has the knowledge and experience necessary to ensure your renovations are 100% satisfactory. Whether you need to do quick, simple upgrades, or a large-scale renovation to increase your resale value, Valcon General has you covered. Call us today at (602) 518-5624 to setup an appointment!
Posted: August 31, 2020