If you are thinking about what improvements you could make to your home in order to realize a greater gain when selling, consider these things before moving forward.
One of the first things you can do is make your home look more appealing from the outside with some professional landscaping. Money Magazine had conducted a study that determined landscaping to be one of the best investments to improve your home’s value!
Today’s buyers look for open floor plans, upgraded kitchens and baths, spacious master suites, even Jacuzzi tubs to relax in after a hard days’ work. These are some improvements you could consider if your home has the necessary configuration to do so, and you have the funds to do them.
Upgrading a kitchen can net you approximately 80% value on what you spend. Bathroom upgrades can potentially net you the same. Additions of family rooms, decks, even new siding or roofing can always add value to your home too. Just remember that most of the time you cannot net a dollar-for-dollar return but a percentage of the cost you put into the upgrades.
Weigh these costs wisely so you don’t go overboard and end up spending more money than you can recover when you sell, making your net proceeds less instead of more. Always consider the other homes in the neighborhood where you live. Don’t price yourself out of your market by improving upon your home so much you would need to sell for much more than any other home is worth in order to recover what you put into it. Being the “best house on the block” may offer prestige but it can work against you when selling your home.