Since the margins in the real estate resale are usually high, more and more people are deciding to sell their homes for profits. Do you know that you can make good money just by reselling old homes? But this is not simple as that. You will surely have to invest some money on home renovations which can boost the resale value of your home. Also, the kitchen is the integral part of a home and must be renovated before selling. For this, you may need to consult kitchen designers in your area. The most important thing is to acknowledge that not all the home improvements can add value to your home.
Common Renovations that Add Tremendous Value to a House
1. Kitchen Renovation
Kitchen is considered as the heart of the home. Investing in it will surely recover your money. However, don’t spend lavishly on the kitchen renovations. People sometimes put extra efforts to give their kitchen a luxurious look which is not recommended. It is less likely a chance that you will be able to sell a house just because it is having a deluxe kitchen. Instead of spending heavily on the countertops to make a fancy kitchen, try to make a symmetry of the kitchen with the rest of the household.
One more trick which adds value to your kitchen is energy appliances. By replacing older appliances with new star rated appliances will boost the value of your home. Potential customers always prefer to save some money and your new star energy rated appliances will solve their purpose.
2. Adding An Extra Bathroom
If there is only one bathroom in your home, you can expect a 30-40% hike on your spending just by adding one washroom to your home. You can choose one bathroom as a half-bath while the other a full bath. For bathtub, the required area must be 35 sq ft. Add elegant sinks and use Eco-friendly paints wherever required. This will significantly raise the value of your home.
3. Reinventing a Room
Reinvent the space within your home that can be utilized to build another room. This idea may seem weird to you but it can attract some extra money from a potential buyer. Most of the times the space is under utilized in an attic or a basement. Make a good use of it and give your property value a hike.
4. Replacing Old Windows
For most of the buyers, energy efficient homes attract while the old fashioned windows can be a major turn off. Energy efficient windows can help you save bucks by minimizing the use of power which can help you recover your invested money.
There are numerous options which can add value to your home. However, it also depends on the market conditions. It is wise to make a resale decision when the real estate market growth is on a step rise. This will help you give a better return on investments.