If you’ve decided to sell your home, you should undertake certain renovation projects beforehand in order to get a higher sale price. However, since home renovations and improvements can require a sizeable amount of money, you need to be highly selective when choosing specific remodeling projects. While some projects can increase your home’s value and help you climb the property ladder, others will reduce your sale price significantly. Here are six profitable remodeling ideas that will help you attract buyers and bring a high return on your investment.
1. Basic fixes
Before undertaking major remodeling projects, you should start by fixing all the basic defects. While these repairs might not directly increase the value of your home, they will affect buyers’ decision and your sale price. You should repair all the leaks in your bathroom, kitchen, and basement, and a fresh coat of paint to freshen up the look of your home, fix any loose or cracked tiles and squeaky floors and remove mold. Once you’ve completed these smaller repairs, you can start with some major remodels.
2. Energy-efficient upgrades
More and more buyers are looking for energy-efficient homes that will help them reduce their energy consumption, cut their bills and increase their savings in the long-run. Depending on your budget, there are numerous green upgrades that will enhance the energy-efficiency of your home. You can replace your regular incandescent lights with LED lighting, purchase energy-saving appliances, install energy-efficient insulation or even go with energy-efficient windows. While these green upgrades might cost a bit more, they will increase the value of your home significantly.
3. Kitchen remodel
As the heart of the home, the kitchen is one of the most important areas that buyers consider when buying a property. However, since kitchen renovations can be quite expensive, you should go with minor remodels rather than a complete makeover. A new coat of paint will bring a sense of novelty into your kitchen while requiring little money. If your kitchen appliances function properly, you can just apply stick-on covers with a stainless-steel finish to give them a new, sleek look. You can also introduce new hardware and faucets or additional storage compartments. Finally, you can repaint your kitchen cabinets instead of buying new ones or just add a new countertop.
4. Bathroom improvements
Your bathroom is another area that will be under buyers’ close scrutiny. Smaller improvements can go a long way in enhancing your bathroom’s general condition and look. You can replace faucets, hardware, and showerheads, add more storage or buy a new, stylish shower curtain. You should also declutter your bathroom, eliminate mold and keep it fresh and clean. In addition, bathrooms have become personal spas that people use for relaxation. Thus, you should aim for an intimate, soothing, spa-like atmosphere. You can create it by introducing scented candles, plants and intimate lighting – wall fixtures are a much better solution than a single overhead light.
5. Basement/attic transformation
Instead of extending your home and building a completely new room, you should reinvent your existing space. Basements and attics are usually neglected areas in homes, but they can be transformed into beautiful new guest bedrooms, family rooms, kids’ playrooms or even home theatres. However, before starting the remodel, you should inspect your basement or attic to see whether it’s generally usable. This way, you’ll be able to predict any possible problems, avoid additional expenses and stay within your budget.
6. Curb appeal enhancement
Your home’s curb appeal is one of the crucial aspects that will affect its value and sale price. One of the most important remodels when it comes to the exterior of your home is the curb appeal. If the paint is peeling off, you should definitely repaint your façade. You can also opt for fiber cement cladding for your façade – a long-term solution that will provide you with an additional layer of insulation. In addition, this type of cladding is resistant to scratches and impacts, and it’s environmentally friendly.
Simple landscaping, repainting your front door or replacing your garage door are other ways to boost your home’s curb appeal.
With these profitable remodeling ideas, you’ll be able to increase your home’s value and get a higher return on your investment.