Which items will add value to your home and help with resale when the time comes to sell?
The short answer: only the ones future buyers will also want and be willing to pay for.
As a general rule, choosing the functional over the merely cosmetic and choosing neutral over unusual or exotic will pay off at resale. Taste and current trends can also affect the value of an update. Unusual colors have limited appeal.
Which updates will add the most value to your home?
- Update your kitchen and/or bathrooms. Whether you need a minor or major remodel, updating the kitchen or bathrooms in your home will yield a high return on investment. Stay timeless with your updates, but also pay attention to trends.
- Increase usable space. Add an extra bathroom, upgrade or expand your kitchen and/or master bedroom suite, add more closet space, or convert unused space to a more functional space, like a spare bedroom to a home office or basement into the ultimate hangout space.
- Lighten and brighten your rooms. Paint rooms white or with a light color paint to neutralize your space. Add skylights, windows, or French doors.
- Revamp the exterior. Updated landscaping will draw in buyers before they even walk through the door. Keep your shrubs, trees, and grass trimmed and tidy. Add a splash of color with vibrant plants or by painting the front door an eye-catching color. Consider a focal point like a flagstone walkway or a water feature.
Thinking About Selling?
It also matters whether a change qualifies as deferred maintenance or a true improvement to the property. It’s easy to assume every positive change adds value, but if a repair simply brings the home up to the standard of comparable homes nearby, that’s usually eliminating deferred maintenance rather than adding real improvement.
When it comes to what actually creates value in your home, there’s only one person who has the final say on “value” — the appraiser. I do my best to build an accurate comparative market analysis for you, but as an uncommon realtor, I want you to understand the distinction: I can help you determine price, not value.
