If you?re planning to sell your home you might be considering whether or not you should finish some of those home improvement projects you?ve often thought about doing.? If you?re working with a realtor, chances are they have pointed out some items that could use some upgrading for the sake of making your home more sellable.
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If you?re like most people you are on a budget, and while I?m sure you?d love to do all the projects that your house needs, you probably don?t want to spend all your money on the house you?re about to sell.? After all, you?ll need to have some money left over to use towards the purchase of your next place.
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So what project(s) will give you the most ?bang for your buck??? Let?s take a look.? First, let?s be honest about the reality of home improvement projects ? it is highly unlikely that you will recoup all the money you spend. Even if you increase the resale value of your home because of your efforts, the increase probably isn?t going to be enough to break even on the cost of the project.?? That being said, when looking at resale value, there are certain renovations that have historically provided a higher return on investment for homeowners.
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Depending on where you live, certain upgrades/improvements will be better than others, but the projects listed below seem to be the most sensible home improvement projects because they are generally the least expensive, but most beneficial, way to sell your home for a higher price.? As a rule, mid-range improvements tend to be smarter choices than high-end simply because you?ll never recoup the money spent on lavish upgrades.? So here are some of the best mid-range upgrades that will give you the most ?bank for your buck.?
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- General Cosmetic Enhancements (new paint, new carpet, pruned landscaping, etc.)
- Wood Deck Addition
- Siding Replacement
- Minor Remodel in Kitchen
- Window Replacement
- Garage Door Replacement
- Bathroom Remodel
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In contrast, here a few upgrades and improvements that should only be made when you are doing so for your own personal enjoyment.? While these items can increase the likelihood of selling, from an investment standpoint you will not regain the money spent, so think of these as personal enjoyment.
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- Remodel of Home Office
- Sunroom Addition
- Family Room Addition
- Master Suite Addition
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Lastly, remember to avoid unusual designs when making improvements. Buyers are attracted to homes that have ?move in? conditions. If you stray too far, fewer buyers will show interest in your home. Unless commonplace within your neighborhood, certain features like home theaters do not appeal to as many people.? So use caution when deciding which projects to complete; make sure buyers will be willing to pay extra for your add-ons.
About the author
Monte Mohr
Monte Mohr has sold over 2,000 homes in the last 25 years which has given him a unique perspective on the Franklin Tennessee Real Estate Market. To learn more about Monte Mohr and his real estate advice go to 1600 Westgate Circle Brentwood, TN 37027? or call the office at (615) 376-4500 my cell at 615-300-8393 http://www.tennesseedreamhomes.com/
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