If you’ve been on the fence about selling your home, there’s no time like the present to get moving. High demand and low inventory is driving a robust seller’s market right now, which means you can get more for your home and realize the equity you’ve waited so patiently to build.
However, you can take it even further. By making strategic renovations to your home, you can maximize your return on investment (ROI) when you sell.
Rethink your kitchen
Among today’s homebuyers, remodeled kitchens aren’t just in high demand—they’re often a “must-have” item on the checklist. If your home features an outdated kitchen, it could be at a competitive disadvantage when you list, depressing buyer interest and, eventually, your return when you sell. If you’re looking to invest back into your home, a kitchen remodel is the perfect starting point. On average, kitchen renovations net homeowners a 80.5% ROI, making them well worth the initial investment.
Granite countertops are an essential part of the remodeled kitchen. Both durable and beautiful, stone countertops have made the transition from being a luxury upgrade to becoming a kitchen standard. The right granite countertops, paired with new or refurbished cabinets, can be the visual centerpiece of the kitchen. When buying granite, don’t compromise for anything but the best-quality stone: it’ll last longer and look better, and it’s often worth the premium. To save on your new countertops (and cabinets), work with a wholesaler, or talk to your contractor and ask if they have any special pricing options available to them.
Give your bathroom a fresh start
Buyers also love a renovated master bathroom. In this space, focus on practicality over luxury. Sure, every homeowner likes the concept of a jacuzzi tub, but just how often will they use it compared to an upgraded shower? In general, you’ll want to prioritize replacing or upgrading the shower, vanities, toilet, and flooring. To limit your overhead and get more out of your project, try to avoid the temptation to change up the floorplan: many bathroom remodeling projects tend to balloon in costs when pipes and wiring need to be moved by a professional.
At the surface, a bathroom remodel might seem like a relatively DIY-friendly project. Be careful not to bite off more than you can chew, however. When it comes to pipes and electrical outlets, we recommend you work with a professional contractor.
Make small, high-impact changes
Not every upgrade needs to involve thousands of dollars and weeks of work. If you only have a few hundred dollars to invest, you can still make a positive impact on your home’s value ahead of sale. Here’s what we recommend:
- Interior painting: Give your walls a fresh coat of paint—especially if you’re planning on listing in the near future. Fresh paint sends all the right signals to prospective buyers. Plus, it’s a DIY-friendly and inexpensive project that can often be completed in a weekend or two.
- New lighting: Does your house still feature sconces and light fixtures original to the home? If so, they’re probably a bit dated, and don’t put your home in its best-possible light—literally! Change out these lighting fixtures, especially in the kitchen, and both you and potential buyers will see the difference.
- Landscaping: A barren backyard is a blank canvas, but it also can make a home feel sterile and cookie-cutter. If your backyard is just grass or dirt, plant some shade trees around the perimeter. This will make the house feel more like a home, while also providing some much-needed, efficiency-boosting shade.
Start with professional advice
If you’re thinking about putting some cash back into your home, you should start by talking to a local realtor. A real estate professional will be able to steer you toward high-ROI projects and give you an overview of what comparable properties in your area feature. By the time you list your home, it’ll already be in the best-possible position for a quick, high-offer sale.