There are certain things buyers want in a home when househunting. There are renovations and upgrades that owners can put money into if they want to sell fast and can be confident knowing that they will get that money back in the sale of their home. With a remodeling budget, what should owners focus on renovating?
Laundry Room: A separate laundry room topped the National Association of Home Builders’ (NAHB) list of most-wanted home features by buyers. Carrying loads of laundry to a basement and then back upstairs again is a thing of the past. Now, buyers want their laundry rooms in a convenient area – near the kitchen or bedrooms with plenty of folding space and cabinets.
Exterior Lighting: This is the most-wanted outdoor feature, according to the NAHB. Adds to the curb appeal as well as a security feature.
Windows: Big ticket items buyers want is new energy efficient windows. Not only are they a great selling point, but they will also save the owners money on energy bills while they occupy the home.
Ceiling Fans: The most-wanted decorative home feature by potential buyers, according to the NAHB. Ceiling fans can be inexpensive and practical – they keep the air moving with the air conditioning or the heat. Plus, now they have reversible controls that allow the air to be drawn up, or blown down.
Hardwood Flooring: A cleaner look, easier to maintain and more durable than carpet. If hardwood floors are already in the home, get it sanded and refinished to make it like new again. If there is carpet – it could increase your home’s selling price by 2.5%. according to Realtor.com
Appliances: Old appliances, especially in kitchens can turn a buyer off. Even with limited funds, a seller can create beautiful kitchens using Energy Star-rated appliances. A Realtor can get a comp report from the neighborhood and see how other homes have sold and what is on the market to know if a seller needs to update appliances or not.
Fresh Walls: Take the wallpaper down. One of the easiest and most cost-effective ways that can help to increase a home’s value is also one of the simplest. Freshly painted walls. Neutral colors are best and can make it easier for a potential buyer to see themselves in the home.
The Bottom Line: A home is a person’s biggest investment, so doing what can be done to upgrade it to boost its value, makes sense. Not all renovations will have the same impact. The best advice a person can get is from a knowledgeable Realtor in the location of the home. Have comps pulled, and find out what upgrades will give the home the most bang for the buck.