If you’re looking to make some renovations and improvements to your home, here are four tips you can follow to maximize its value.
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Which improvements and renovations can you do to your home to maximize its value?
First, keep your renovations moderate. When you’re attempting to do a renovation or an upgrade, ask yourself one question: Will the majority of buyers coming through this home appreciate this renovation, or will I have to do it again if I decide to sell this home at a later date?
Second, pay attention to curb appeal. Your curb appeal creates the first impression of your home. In our office, we abide by something we call the three second rule. This means whenever we bring a buyer to a property, they will determine whether they want to seriously consider purchasing that property or not within the first three seconds of pulling in the driveway. Spend some money on landscaping and other areas out front to make your home more inviting for any prospective buyers.
Spend the majority of your money in kitchens and bathrooms.
Third, have as much hardwood flooring in your home as you can. Buyers love neutral, hardwood floors. If you can’t afford to install hardwood floors, make your current flooring as clean and neat as possible.
Lastly, spend the majority of your money in kitchens and bathrooms. These are the places in the home where you’ll get your best return on investment. You can typically achieve a two-to-one return on investment, meaning you’ll get $2 in return on the sale of your home for every $1 you spend.
If you have any questions about how to maximize your home’s value or you’re thinking about buying or selling a house, feel free to reach out to us. We’d love to help you.
