The Top 5 Upgrades That Pay You Back at Resale
You’ve made the decision to sell your home. That’s a huge step! Now you have to decide how to get it ready to put on the market. Before you spend time and money on repair and remodeling projects, take a look at the top 5 upgrades that pay you back at resale time. Sandlin Homes compared the 2018 Cost Vs. Value Report with a variety of other knowledgeable sources to come up with this list of home renovations that provide the best return on investment in the Texas/West South Central region.
#1. Fix the basics. A homebuyer might be willing to overlook outdated features, but they are likely to shy away from a home that needs an expensive repair. A new roof or air conditioning system can drive up the cost of owning a home. The same is true with the furnace, water heater, and other systems that might be nearing the end of their life Get your home ready to sell by starting here.
#2. Apply a manufactured stone veneer. Remodeling Magazine’s Cost Vs. Value Report showed that Texans favor this look. You should expect to recoup 93.4% of your investment when you sell your home. Based on an estimated expense of $7,955, that means you should regain $7,559 in your selling price.
#3. Add a wood deck. The lack of desirable outdoor living space can be a deal-breaker. If you don’t have a patio or deck in your home, think about adding one. You don’t have to invest a lot of money to create an outdoor oasis. Just provide potential homebuyers with the opportunity to envision their life outside the four walls. A deck is more cost-effective than constructing a patio, so keep it simple.
#4. Do a minor kitchen remodel. The emphasis is on “minor” here. Don’t rip out your kitchen cabinets, countertops, and floor. According to Remodeling Magazine’s Cost Vs. Value report, a major kitchen remodel (approximately 200 square feet) could cost upwards of $60,000, of which you should expect to regain less than $36,000. Save the money and instead reface the cabinets with new doors and drawer fronts (preferably Shaker style, which is most popular) and hardware. Then, purchase new, energy-efficient appliances if yours are outdated. Finish with a fresh coat of neutral paint. If you still want to do upgrades, replace the laminate countertops and install a mid-priced sink and faucet.
#5. Install vinyl windows. Windows can be a major source of discontent with homebuyers. They want low maintenance, no leaks, and protection from UV rays. Does your home deliver on all three factors? If not, gain an edge here by replacing your current windows with insulated, low-E windows.
Other things that impress homebuyers relate to smart home technology—for both the convenience and the home security. Think about having your home wired for a smart home management system. Add a Wi-Fi-enabled thermostat and a doorbell camera and your home will look even “smarter”.
One of the best tips for getting your home ready to sell is “Don’t go big.” Major kitchen and bathroom remodeling projects will not pay off. Opt for smaller upgrades and let the new owners decide how they want to tackle the more in-depth changes.
Remember, the most cost-effective home projects start with a few cans of paint. Freshen up your walls. Get rid of bold colors that could scare off buyers who can’t see past the color choice. Go neutral—like soft gray and taupe—wherever you can.
While you’re getting motivated to sell your home, get some inspiration by looking at new ones. Sandlin Homes’ single-family homes provide all the conveniences that your current home might be lacking. See our DFW area communities, floor plans, and the move-in ready new construction homes for sale now. If you already have a location in mind, talk to us about building a home on your land.