Considering selling your home in the next year or two? You may be surprised to hear that some of the simpler home improvement projects often bring the greatest return on your investment when it comes time to sell. Here are some basic home improvements that some experts say can increase your home’s value and may help you find a buyer sooner than later.
- Knock, Knock, First impressions are very important and the same goes for the entry into your home. If your front door is dated or otherwise not in the best condition, you may want to replace it with a nicer and more energy efficient model. This is one of the lowest cost improvements you can make and many experts have gone on record saying a new front door also bring you the highest rate of return. If it’s within your budget, consider updating creaky garage doors to more contemporary models too.
- Wash Your Face. Your home’s exterior can accumulate a significant amount dirt and grime over the years. In many instances, this happens so slowly that you may not even realize it. Pressure washing your home’s exterior can add vibrancy and remove the signs of age caused by the constant exposure to the elements. Keep in mind that you should not pressure wash a house’s exterior yourself if it has been painted using lead paint. While lead paint is typically only found on homes built before 1978, you should consult an expert if you don’t know for sure what type of paint was used on the exterior of your home.
- Tunnel To The Sun. Many people love the look of skylights, but they can be expensive to install and depending on your home’s floor plan, sometimes not even possible. Solar tubes, also known as sun tubes, are alternatives to skylights that can drastically brighten up a home’s interior. When compared to skylights, they’re often easier to install and can cost you half as much.
- What’s Cooking? Minor kitchen and bath remodels often bring a high return on investment when its time to sell. Updated appliances, a new bathtub, cabinet doors and vanities can drastically improve appearances and appeal for buyers. Take Out The Question Marks. Few homes are ever perfect from the buyer’s perspective, but you can increase your home’s appeal by removing anything out of the ordinary and repairing things that are in a state of neglect. Remove outdated wallpaper and replace it with a fresh coat of neutral colored paint. Vent covers and lighting fixtures should be in good condition and secured to the wall or ceiling without gaps. Fix anything that may seem minor to you, but could be a flag to potential buyers as they tour your home.
One Thing To NOT Do – Don’t Go Overboard!
Many experts will tell you to avoid extensive upgrades and remodels if you are planning on selling your home in the near future. While a fully revamped custom kitchen or new hardwood floors may look appealing to a potential buyer, the return on investment often isn’t there over the short term.
While we’re on the subject of home renovations, one of the areas the HomeBridge team excels at is a type of home loan called a renovation mortgage. These mortgages can turn homes located in the right neighborhood, but need some modern touches or even major renovations, into a buyer’s the perfect dream home. If you plan on making improvements to your home, an FHA home improvement loan may be just what you need.
If you’re interested in speaking with a mortgage expert regarding a renovation loan or a more traditional type of mortgage, you can find the location of the closest HomeBridge office online here. If we don’t have a branch in your neighborhood, you can contact our customer service department here and they’ll be happy to help you over the phone.