Before selling your property, it’s best to have another look to make sure you’re offering the best price. Remember, the real estate market is not an easy feat. In fact, it’s one of the most competitive industries today. Always put yourself in the buyer’s perspective. Would you buy it for your asking price? This is why it is advisable to make a few upgrades to make the property more appealing to homebuyers.
To help you get started, here’s a list of home improvement and renovation projects that can increase ROI:
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Kitchen Remodel
A successful kitchen remodel can recoup your investment by 60 to 130 percent– if done successfully. The key here is to make sure you don’t go overboard. First, make sure to maximise space. If possible, remove the bulky countertops or cabinets that consume the floor space of the kitchen. A good alternative for this is to install mounted racks or shelves where you can store kitchen utensils. This should help create more space, making it easier for you to walk around.
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Convert Empty/Unused Space Into a MoreFunctional Room
While this may seem like a major home renovation project, it can potentially increase your ROI by 120 percent. Have your house inspected by professionals. Adding a new loft is one way to improve curb appeal and it’s also functional. Generally, the floor space should be at least 60 to 80 square feet with a radius of 6 to 8 feet in any given direction. Ceiling height should also be at least 7 feet of the floor space (the higher the better). Once you have the floor plan for the new room, look for a reputable stair installation company.
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Apply a New Paint Job
This is probably the easiest and fastest way to boost your property’s curb appeal and resale value. The only objective here is to choose the right palette for both exterior and interior areas. A good rule of thumb here is to avoid using multiple paint colours. Make it sleek and clean. A successful paint job can recoup your ROI up to 200 percent.
Take note, however, that buyers are very particular when it comes to colours. This is why it’s better to play it safe. As much as possible, choose exterior colours using a visualizer. This will help you determine the right palette to compliment the overall design of the property.
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Installing Energy-Efficient Fixtures
One good observation in today’s housing market is that many buyers are considering properties with energy-friendly features. This can be the effect of thousands of global warming campaigns. Nevertheless, adding energy-efficient home fixtures like single-double hung windows or casement windows can recoup your investment by 130 percent. In Australia, another popular option today is using solar roof tiles. There are many other energy-efficient fixtures you can add to your property. Do your research or consult a professional.
These are just some of the few things you can do to boost your property’s curb appeal and resale value. Start with a concrete plan before you proceed to any renovation. Think about your objectives, and don’t hesitate to hire a professional for more efficient results.
