3 Home Updates That Will Increase Your Property Value
Upgrading a home can add tremendous value to the property and yield excellent returns if you do it the right way. Here are three upgrades you can make that will add value to your home.
1. Add A Bedroom or Bedroom
Depending on the neighborhood and the comparable homes in your area, you may wish to add a bathroom and or a bedroom, if possible. If your neighborhood is filled with 3 bedroom 2 bath homes, and your home is a 3 bedroom 1 1/2 bath, you might be leaving some money on the table by not turning your half bath into a full bath. If you live in a neighborhood with a very desirable school district, adding a bedroom might be very attractive to a family with several children.
Landscaping is an extremely under appreciated update that is very cost effective and can completely change the aesthetic appearance of your home. Returns are almost undoubtedly going to outweigh costs in this category.
3. Minor Kitchen and Bathroom Upgrades
Many people get caught up in the dramatic glamorous bathrooms and kitchens but most of the time they will never recoup the cost of the upgrade. The most efficient way to update a bathroom is through very strategic modifications, such as changing hardware, painting cabinets, new light fixtures, or a very clean new back splash. Similarly, reglazing the tub, adding new faucets or shower doors, and a painting the bathroom in a trendy color will go a long. When you start knocking down walls or putting in new cabinets or a huge waterfall kitchen island, you really start to eat away at your ability to recover your investment.
All in all, these minor upgrades aren’t going to break the bank and they will go a long way in making your outdated property look clean and fresh. Ultimately, these updates give you the ability to potentially sell your property quicker and for a larger premium.