These remodeling tips will help you get great returns on your investment. Real estate markets are improving, and many people want to make improvements to their homes in hopes of selling them. Others just want to do something to fix their homes up and improve the value, but not spend a fortune doing it. So what kinds of remodeling gets the most return on investment?
New light fixtures can add a lot of bang for your buck. Adding more light to rooms, whether recessed, beautiful fixtures or small lamps for mood lighting, means that rooms look larger and brighter. At the same time, fixing electrical and plumbing issues also adds value. That kind of money spent isn’t what most consider “visible” improvements, but fixing electrical issues will also make your home safer, as will fixing water issues. Mold is bad news, so fix any leaks as soon as you find them.
Two of the biggest places to make updates that will make a huge difference in the value of your home is to update your kitchen and bath. If you do both there is about a 168% return on the money you invest in the remodeling. The updates don’t have to be really expensive. Try fixes like resurfacing cabinets, replacing old flooring with something inexpensive, replacing the toilet seat, changing out dated fixtures and things like drawer pulls. Re-grout and caulk tiling, counter tops, sinks and tubs/showers. Obviously doing a complete overhaul will add more value, but at a higher cost. You can still add value without spending a lot.
Another remodeling tip is to work on your carpeting or flooring. New carpeting or flooring adds more value than just cleaning, but if your carpets are newer, sometimes a good professional cleaning will do the trick. If carpets show heavy wear then replacing it is really the only way to add any kind of return on the investment. Cleaning heavily worn carpet won’t add any value. Same with worn flooring. If you can refinish worn wood flooring, that is much less expensive then replacing it, and will give you more value for the outlay of cash.
Painting makes a huge difference. Investing in a few cans of paint and painting the interior of your home will add a lot of value. More neutral colors give a better return, so keep that in mind if you are selling. Otherwise, pick a favorite color! Don’t forget the exterior; remember any painting that makes your home look newer makes it more valuable. Use these remodeling tips and bring your home up to date and ready to sell for more money.