Which Home Improvements Are Worth Making?

Home Improvements, Some Sell, Some Don’t

If you’re planning to sell your home, you’ve probably already looked around and decided to make some changes. Before going about drastic large improvements, consult your Realtor. Investing time and money making upgrades thinking it will help your home sell for more, could actually harm you. Some of these harmful upgrades may include, adding a green house, swimming pool, unique landscaping including waterfalls, drastic color changes in or out of the home, even flooring options. There are many upgrades of course that will help your bottom dollar significantly. The following improvements offer some of the best estimated rates of return.

• Kitchen remodeling – 150 percent – today’s kitchens are elegant, simple, functional and stand to be the most important room in the home.
• Landscaping and lawn - 100 percent - Even a few hundred dollars invested in lush grass, flowers, and shrubs may increase your curb appeal and sale price significantly.
• Fireplace – 100 percent – Fireplaces add warmth and appeal to the home. Upgrading an existing fireplace or installing a new one can bring value. There are so many options today with energy efficient gas models, you almost can’t go wrong.
• Second bathroom – 90 percent – Even a small second half bath can add value and be the final “sold” factor. In today’s market, additional bathrooms are desired. Decorate bathrooms with warmth and care. Leaving out all signs of personal use is a must. A remodeled bath can add 60-80 percent. Master baths are desirable as well as double sinks and unique tile and vanity upgrades.
  
• Deck – 70 percent – Outdoor living is in demand and can bring an added smile after walking through the home. Seeing a nice surprise when walking outside is always a good thing. Freshly painted or low maintenance decks are a plus. If adding a deck isn't in the budget, try a do-it-yourself stone or brick patio project.
  
• Painting The Exterior – 50 percent - Probably the best idea for added curb appeal, while making the home look fresh and well maintained. Even painting front doors, shutters or porches can make a huge difference.
  
• Finished basement – 40 percent – An already existing space can be made into a living area that will be of value to a buyer. Walk out basements will create even a higher return. Many finished basements are outdated. Upgrade a little and see a significant difference!
  
• Heating system/Mechanicals – 40 percent – Although buyer’s opinions may vary with this upgrade, replacing old furnaces, A/C, H20 tanks, etc. can certainly increase value. Your return however, may not bring as much as you would like. It’s probably best to only replace if needed.
• Windows/Doors – 35 percent – They certainly make the home look better and more modern, but they are almost considered a normal feature in today’s market. Energy is a huge factor to many home buyers. Knowing how to effectively market these upgrades can help bring even more awareness and attention to the offer amount!

If you're considering selling a home in the Cleveland area or need to buy a new home, contact our RE/MAX team of agents and let us put our expertise to work for you.