Effective Methods of Increasing Home Resale Value
Whenever considering a home renovation project, it is often important to think about how this project will affect the value of the property. Opting for a more popular renovation trend at the time might not always lead to an increased resale value when the time to sell comes. So, how can you know for certain which renovations will prove beneficial over the long term? These tips should steer you in the right direction.
First, focus on the large-scale issues at hand. If you are having trouble deciding between a niche renovation project or a grander project in scale, it is often the larger project that will make the most difference to prospective buyers. Why? Well, prospective homebuyers will be more focused on the features that catch their eye rather than small fixture renovations on the interior for instance. For example, replacing an old garage door with a new one will attract more attention than a few new panels of tile in an obscure part of the home. More simple options, such as fresh coats of paint in the bedrooms, are also effective methods of catching the eye of prospective buyers.
Next, maintaining the integral functions of your home goes a long way. You can be sure that realtors wouldn’t be interested in showing their clients a home with fundamental plumbing issues. If given the choice of two beautifully renovated homes, but one didn’t have proper electrical or plumbing infrastructure and the other did; most prospective homebuyers will default to the home that is fully fleshed out. So, if most large-scale interior or exterior projects have been completed, consider updating your home’s plumbing or electrical work for increased resale value.
Finally, and not to be undervalued, are outdoor renovations that provide social functionality for families. Projects like a freshly built deck, updated landscaping to create a more open front or backyard space, or even a fleshed-out patio are great choices to increase resale value. These additions create more space for homeowners to utilize in ways that perhaps the interior of their home can not support. Being able to entertain guests or even just step outside to relax and take a breath of fresh air on the deck are huge selling points.
If you’re considering any home renovations in an attempt to increase resale value, review the infographic provided by Synergy Builders for more information on what projects are best for your home and attracting prospective buyers.
Author bio: Sara Scimeca is Marketing Coordinator for Synergy Builders, a stress-free remodeling company. She has two years of experience in the industry and manages Synergy’s marketing plans including creation of content for newsletters, brochures, advertisements, videos and more.