Have you been thinking about selling your home? Whether you take this step in the near future or years down the line, ensuring the highest possible return is the goal. Fortunately, there are home renovations you can undertake to make your property feel more contemporary—and maximize your selling price when you put it on the market.
Here are five home upgrades that can offer high returns when it comes time to sell…
1) Refreshing your kitchen
Your kitchen is the heart of your home, and buyers will look closely at it. While you may not want to do a complete overhaul (a process that can require more time and money than many homeowners are comfortable with), a few strategic updates can go a long way. For example, refacing or even just repainting your cabinet doors is a cost-effective way to modernize your space. Swapping in new hardware (like your faucets and drawer pulls) is another way to give your kitchen a facelift.
2) Replacing your countertops
Updating your countertops can also transform the look and feel of your kitchen—and provide a significant return. Specifically, linoleum and laminate can, in many cases, look outdated. For this reason, you may want to consider upgrading. Quartz provides a modern look that mimics marble, at a fraction of the cost. If you’re looking for something on-trend and upscale, consider a waterfall countertop or marble backsplash.
3) Updating your bathroom
Bathrooms can make or break a home sale—and outdated flooring is one of the biggest turnoffs. Fortunately, upgrading to porcelain, ceramic, or stone tile can instantly provide a more sophisticated look. Another improvement that typically offers strong returns is ditching your shower-bathtub combo. A standalone soak tub or sleek glass stall will prove more appealing to buyers. That said, remember that every single-family home should ideally have a tub in at least one bathroom.
When it comes to home improvements, landscaping is often overlooked. That’s too bad, because it can add value of up to 20 per cent to your property. Investing in lawn care and ornamental trees or shrubs can go a long way towards boosting your home’s appeal. If you want to take things a step further, a pools, hot tub, outdoor kitchen, or contemporary patio can help you create a beautiful oasis that will draw buyers in.
5) A coat of paint
Painting is one of the simplest ways to refresh your living space. In fact, adding the right colour can do more than create a pleasant atmosphere—it can also put thousands of extra dollars in your pocket when you sell. Light neutrals are a safe bet because they appeal to the largest possible pool of buyers. Greys, whites, and beiges all tend to work well, though the ideal shade may depend on which room you’re painting. For example, blue bathrooms and taupe living rooms are both shown to boost seller returns.
The key takeaway
Performing the right home upgrades can boost your bottom line when it comes time to sell, but it’s important to be strategic. The right improvements will depend on a variety of factors, from what your timeline looks like to the current condition of your home. Your best bet is working with a local agent who knows the market—and what buyers are looking for!
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