Are you thinking about selling your home and want to know how to increase its resale value? Well, you’ve come to the right place! With the current housing market on the rise, now’s the time to make a few key renovations that will help you turn a profit when it’s time to sell.
According to the National Association of Realtors, home resales have gone up a staggering 8.2% in the last few months and are projected to continue growing in the coming months. With more and more young people opting to buy rather than rent, it’s never been a better time to sell your home.
But exactly what kind of renovations should you make to increase your home’s resale value? Let’s take a look!
Let the Light In!
Natural light is a game-changer when it comes to making your home feel spacious and open. People don’t want to feel like they’re living in a cave, so adding more windows, especially skylights, is a great way to let in more light. Nowadays, windows that double as walls are especially popular as they create the outdoor-vibe inside your home.
Removing walls and partitions inside the home is another great option, just make sure to use glass blocks instead of opaque walls if you need to divide up your space. It’s also worth mentioning that these types of remodeling projects are best left to professionals, so don’t undertake any hard project without some expert help. And don’t forget, lighter window treatments and more mirrors will help scatter the light even more.
Work and recreation under one roof
Gone are the days where a simple bathroom and kitchen renovation will cut it. Today’s buyers want a home that makes life convenient. This means adding a dedicated home office and/or indoor exercise space. Did you know that, on average, a well-designed and functional home office can increase a home’s value by 5-10%. According to a study by Zillow, homes with a home office fetched a premium of 7.1% compared to similar homes without one.
Sometimes all it takes is a fresh coat of paint, new wallpaper, or updated landscaping to increase your home’s value. Pay attention to what’s trending in the market, and either follow suit or put your own spin on things. Nate Berkus, a renowned interior designer, has mentioned in various interviews that neutral colors such as warm beige, soft gray, and rich navy blue are popular and timeless choices for wall colors. He also said, “…incorporating bold accent walls in colors such as terra cotta, forest green, or moody black add depth and interest to a room.”
However, it’s important to note that personal taste and style play a large role in choosing wall colors, and what may be trendy for one person may not be for another.
And there you have it! Making these simple renovations can significantly increase your home’s resale value and help you turn a profit when it’s time to sell. According to a recent study by Zillow, homes with updated kitchens, bathrooms, and outdoor living spaces sold for 17% more on average compared to homes that hadn’t been updated.
So, don’t wait any longer! Start making these renovations today, and you’ll be on your way to a successful home sale in no time. Good luck!