The 7 Best Home Upgrades for ROI Before Selling in 2017
Upgrading your home for ROI doesn’t always mean a complete gut job. In fact, in many circumstances completing a major renovation throughout your home before you sell may not get you the full return you’re hoping for. When assessing the best home upgrades that will have the greatest return, it’s important to keep in mind the size of your house, the year it was built and problems that have come up in the past. All of these factors will help you prioritize what changes are necessary and what are cosmetic before putting your home on the market.
Here are the best home upgrades for ROI before selling in 2017:
The Best Upgrades For Curb Appeal
1. Siding replacement
Siding replacement is one of the best home upgrades for ROI because it’s what gives a home a good first impression. If your siding is worn down or made from an old material that is beginning to rot, potential buyers are going to notice that right away. If a homebuyer is put off by the outside of your home they’re probably not going to want to even see the inside of the home. New vinyl siding costs anywhere from $4,000 to $7,000 depending on the size of your home, but can typically increase your homes value by that much or more with the average being an 89% return. This means that it’s worth the investment in the long term.
2. New front door
Upgrading the front door is another one of the best home upgrades you can make before selling. A front door is the focal piece of a home’s curb appeal. Adding a pop of color to the door can completely change the look of the home. Aside from look however, a front door’s efficiency is also important. If the door has a worn out seal causing a draft, or other issues it may be worth completely replacing the door. A new door is fairly inexpensive but can be a huge selling point.
The Best Upgrades For General Maintenance
3. Basement Waterproofing
Having a wet basement can make potential homebuyers disregard your home all together. Although a wet basement could be caused by a number of different things, it usually does not require a major renovation to fix the issue. Simply rerouting the gutter system further away from the house and using waterproofing materials, like waterproofing floor paint, can make a huge difference. Basement waterproofing can be one of the best home upgrades you make prior to putting your home on the market because it will ease the worries of potential home buyers.
4. New furnace or A/C System
Although not a minor expense, updating a faulty furnace or A/C system can have a large return making it one of the best home upgrades you can make. These systems are a crucial part of how the home functions and trying to sell your home without these being upgraded could affect you more negatively than you think. Updating your furnace or A/C system costs anywhere from $5,000 to $8,000, however you can make about that much back or more with your sale price so it's worth the investment.
The Best Upgrades for Main Living Spaces
5. Kitchen updates
A major kitchen remodel may not give you the best return on your money. Especially if your home is on the smaller side, or needs updates in other spaces. However, doing a partial kitchen update by updating the cabinet color, countertops, hardware and appliances is another one of the best home upgrades you can make before selling your home. Fresh kitchen designs don’t have to completely break the bank. If the cabinetry and other main elements are in good shape, paint and new hardware can update the look and feel of your kitchen making it more appealing for buyers and increasing their offers.
6. Bathroom updates
Doing minor updates to your bathrooms will also have a large impact on ROI. Bathrooms will be used frequently so ensuring they look clean and fresh is important when making a good impression on home buyers. Purchasing a new vanity and sink as well as a new toilet is fairly inexpensive and can completely transform how clean the space looks. There are also options to resurface bathtubs which can have a huge impact on the look of the bathroom as well. Taking the time to clean up your bathroom is one of the best home upgrades because it will leave a lasting impression on potential home buyers.
7. Fresh Paint
Never underestimate the power of a fresh coat of paint. As new trends arise in home decor for 2017 and beyond, new paint can have a huge impact on changing the look of your home. Spending the money to paint your home in trendy neutral tones that lighten up the space is one of the best home upgrades because it can transform the space making it a blank slate for potential home buyers. Home buyers want to be able to picture themselves in your home, so this will help you achieve that.
Overall, these are the 7 best home upgrades you can make prior to putting your home on the market. Spending time and money updating the essential functions of the home and the curb appeal should be your top priority. From there other cosmetic updates can help you sell your home as well. People are going to pay top dollar for homes that have good bones and are well maintained over homes that exactly fit their decor style because that is fixable on their own terms.