5 Ways to Get Your House Updated and Ready to Sell
Making certain upgrades to your home in order to sell it at a better price is a given. However, which upgrades you should choose is something of a puzzle. Here are a few concepts that have proven retu...
Making certain upgrades to your home in order to sell it at a better price is a given. However, which upgrades you should choose is something of a puzzle. Here are a few concepts that have proven return on investment--and a few other ideas besides--to get you started.1. Finish the Basement
If you have an unfinished basement, consider it for an upgrade. You’ll be adding more heated square footage, more living space, to your home. Above and beyond that, finishing a basement can cut down on your energy bills by insulating an area of your home that is unshielded. When it is properly finished, it adds a layer of heated home between the homeowner and the ground. Experts assess that it can add between $40,000 and $50,000 to your asking price. While it will run you on average $18,000 and may cost somewhat more, depending on square footage, you will recoup up to 70 percent of your costs on this one project alone.2. A Major Kitchen Remodel
This is about more than aesthetics. While paint color matters, it pales in comparison to quality materials, new appliances, and an easy flow of effort to use the kitchen. If your home hasn’t had an upgrade in this regard since you bought the house, you will want to invest an amount equivalent to about 30 percent of your home’s resale value. This will bring more than a 91 percent return on investment if you’re careful about choosing high-quality, durable materials and appliances with great warranties.
Choose neutral colors, and make your money work for you by taking your time or comparing options. For example, granite is great for countertops but can be expensive. So, take time to see if there are individual quarries that will sell imperfect or slightly mis-cut pieces discounted, but which will suit your needs.3. Consider a Reputable Flipper
There are all sorts of reasons for needing to sell a house. While many may have time and resources to complete upgrades, you may not. There is no shame in needing to sell your home as it is to a reputable flipping company that will not take advantage of you. While they are, of course, in the market to make their profit on a property, many individual flippers will not try to absolutely low-ball you on a price for your property. These companies take houses at all levels of repair without bias and will give you an honest appraisal of the property.
What you’ll need to be sure of is a great Better Business Bureau rating, which is publicly searchable. You should also be able to look for and find reviews of the company. For instance, by simply searching the company’s tagline, such as We buy houses in San Antonio, multiple resources should be made available. Make sure they have a good history within the area and that they are well-known.4. A Major Bathroom Remodel
This is more than just paint and perhaps new fixtures. While it has a 93 percent return on investment, there will be a good bit of work involved. For example, in order to be a major remodel, it should expand an existing 5 by 7 space, minimum. You may have to resituate the bath or shower, the toilet, and the taps for the basin.
Beyond this, adding a designer sink and new hardware, a stone or textured ceramic floor, and other small niceties, like a linen closet, will cost about $26,000. The good news is that it brings it nearly all back into your pocket. Remember to start at the bottom with the tile work. Always buy more than you think you’ll need, in the instance that you break any during installation. As well, you’ll want to have extras for future repairs.5. Bonus Room Updates
Knowing your market is key when considering how to use this space. For instance, if the people looking in your area are primarily those with families, consider making it into a playroom or a small bedroom. Creating a home office is one thing that is sure to bring a return on investment in large cities, like New York. Adding extra outlets and jacks for office appliances, overhead cabinets, and file storage goes a long way. Plus, a half bathroom will not cost as much as a full bathroom but will serve the space well.
There are, of course, many ways you can upgrade your home. However, these will bring the most immediate return on investment. In addition to ensuring that all major systems of your home are in top order, you can also take these and other measures. You’ll make a lovely return on your investments.
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ABOUT THE AUTHOR
Samantha Higgins is a professional writer with a passion for research, observation, and innovation. She is nurturing a growing family of twin boys in Portland, Oregon with her husband. She loves kayaking and reading creative non-fiction.