So you’re thinking of selling your home and you have some spare cash ready to invest in your home. Which investments are best when it comes to your home? The idea of putting a lump sum of money into your house right before selling may make you uncomfortable but it should not. That is, it should not as long as you make wise investment choices. Some investments pay off 110%, while others are simply money pits. Here are some ideas for making your home more valuable before listing it, aside from simply staging your home.
Kitchens and Baths Pay For Themselves
The return on investment will vary from market to market. However, generally speaking, investing in your
bathroom or kitchen consistently returns over 100% of investment. The fact is that people spend a lot of time in these two rooms so they have to be able to envision themselves in these rooms when looking to buy. When it comes to design choices, always go with a classic or traditional feel. Commercial appliances, stone counters, and solid wood cabinets are sure wins. Even if you get no use out of these improvements, know that it is a short-term investment that you will see a generous return on.
Don’t Neglect Maintenance Items
Less exciting but equally important ways to invest in your home are big-
ticket maintenance items. If your roof needs replaced, now is the time. If your siding needs replaced, now is the time. Many homebuyers won’t even step foot in your home if they know these big maintenance items will need to be addressed at move it. Homebuyers would rather pay more for a home that is move in ready than have the headache of repairs after unpacking.
Another geographically dependent improvement is added space. Particularly so in hot markets, an extra bedroom or bathroom can open your market up dramatically. Even in markets that are not as hot, adding space is a foolproof way to recoup on your investment plus some. Not only are you seeing a return on your investment, but the pool of buyers you are selling to opens up dramatically with each new room or bathroom added. This is especially true of one bedroom or one bathroom homes.
Spending money on your home right before selling can feel like a risky move. However, when it comes to the above improvements, the numbers don’t lie. If you have the luxury of time on your hands too, you can plan improvements a year or two out from listing your home so that you can live in an upgraded home before selling. Regardless, at the end of the day investing in your home will always pay off.
If you are interested in buying or selling property in the Costa Mesa area, Contact Torelli Realty.