Best value upgrades to your home
How do you know what remodeling projects will give you the best return on your investment? Which spaces, finishes, upgrades and accessories will bring you the best bang for your buck when it comes time to sell? There are really two questions here. One is, how do you want to use your house? And the other is what value do you want to get out of it when you sell?
For the purposes of this post, we are going to set aside quality of life and enjoyment while you are in the house. We are going to focus on the upgrades and remodeling projects that will improve the value of your home when it comes time to sell. I’m assuming here that there are no major liabilities (like structural rot or a leaking roof) If the house needs actual repairs… attend to those first!
A caveat here: It’s impossible to predict what a given buyer might want so don’t worry too much about it. Having said that, there are some smart investments you can make in your home that will increase its value and appeal to most potential buyers. That’s what we are going to talk about here.
I like to think of this as three different categories. Performance, Space and Finish Upgrades. Most remodels will address more than one of these things at once but let’s break down the benefits here.
- As a selling point, additional space almost always wins, but additions can be very costly. They can take many months to plan and build and you may not recover the hefty cost when you sell.
- Improving a home’s performance (adding insulation, more efficient furnace/boiler, new windows) is important for both comfort and operating costs of the home but can be hard to pitch on a listing sheet. Ie; it may not be at the top of a buyers list of priorities.
- The things that buyers do notice are upgraded finishes and fixtures. Said another way, dated flooring, fixtures and finishes are an almost certain drag on a homes potential sale value. Naturally, kitchens and bathrooms (the rooms with the most fixtures and finishes) are the best places to focus.
Let’s talk about some examples:
The great thing about renovating kitchens and bathrooms is you can vary the level of intensity to suit your budget and schedule. For example, if you have a grungy or tacky tile surround in the master bath, tearing it out and starting over is not your only option. You can use specialty paint to reglaze the tile to get a totally fresh look. Kitchen backsplash a disaster? Try peel and stick tile. The point here is not to go as cheap as possible. The point is that you have options.
If budget is the main factor, start with the upgrades that don’t involve a lot of demo or moving plumbing and structural components. Consider replacing fixtures and finishes before a wholesale remodel. New lighting, a new kitchen faucet and upgraded cabinet hardware can go a long way. Bang for buck, those are the things that will pay the biggest relative dividends when it comes time to list your home.
One thing we haven’t touched on that gets routinely overlooked is…. CURB APPEAL! How does your house present from the street? Could you stand to trim some trees, add a few planter boxes and some solar path lighting? These are easy, affordable improvements that make all the difference when it comes to first impressions. Do not sleep on landscaping the front of the house! Pinterest is full of great, weekend projects that can help improve your home’s curb appeal.
That’s my quick and dirty guide to high value upgrades. If you want to learn more and find lot’s of great building, remodeling and DIY content, follow me here…