As the new year rings in new resolutions, motivations, and goals, many of us are considering selling our home in the upcoming year or simply giving our home a much needed face lift. But the question is, which updates and renovations will give us a healthy return on investment (ROI) and/or give us the best possibility for a quick sale at maximum profit?
The following updates will give you the biggest bang for your buck and get your home in tip-top condition for sale, making it more desirable to potential buyers.
1. Fresh Paint: A fresh coat of paint can do wonders. Consider sticking to neutral colors such as grey, white, charcoal, beige or light blue.
2. Update Flooring: Rip up old carpet, refinish hardwoods, and replace worn vinyl or linoleum.
3. Small Bathroom Uplift: Upgrade hardware, replace vanity, and re-caulk around the tub, shower and sink.
4. Energy Efficient Updates: Adding insulation, replacing appliances, and replacing windows.
5. Declutter: Pack up items that ‘personalize’ your home and things that you won’t need or use while your house is on the market. You want buyers to be able to visualize themselves in your home.
6. Curb Appeal: A little landscaping can go a long way. Along with flowers, bushes and lawn maintenance, considering a new front door with a spruce of color (that matches!) to attract buyers.
According to the Remodeling 2019 Cost Vs Value Report*, whether you plan to sell soon or stay in your home a little longer, the following renovations will give you the highest return on investment in the greater Charlotte market:
*© 2019 Hanley Wood Media Inc. Complete data from the Remodeling 2019 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
If you are thinking about selling your home or doing renovations, you should contact your favorite real estate professional to discuss what would be the best options for your particular market and situation.