When getting ready to put your home on the market, you may want to consider renovation projects to increase your home’s ROI. Projects can range from small updates to larger and longer projects, all of which will increase your property value and make it more enticing for potential buyers. Think about projects that will add value when beginning renovations and that will bring profit in the long run.
Second opinion
Timing
Energy efficiency
Smart homes and energy-efficient homes are becoming increasingly popular. If you do not have smart technology in your home, consider adding this to your renovation list. There are many advantages to smart technology, including energy efficiency, security, convenience, and more. Other energy-efficient renovations include updating windows where heat can be lost through. Smaller projects will include switching lighting to LED lights which last longer and are more energy efficient.
Details
Focus on the details of your property. Consider how projects will affect the look of the home, like switching from carpeting to wood flooring or the color of the paint on the walls. You do not want to go overboard when renovating, so be sure to look at the larger picture with projects. If you change one room’s trim or update the paint, will you need to do it in every room in the home? Again, keep in mind the timing of the project.
Here are some exterior projects to consider:
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Update the landscaping around the house. Be sure the lawn and garden look well taken care of, and plant flowers in the spring to make the home stand out from others.
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Consider adding a fence or gate to the backyard. This will entice homebuyers with pets or children or even those looking for extra privacy.
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Add a deck or patio to the home. This is a great space for homeowners to spend time outside and adds value to the home.
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Add a new coat of paint to the rooms. Paint the room in neutral colors so that buyers can see the potential of the rooms.
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Updating flooring in the home. Flooring is a simple interior improvement that is important in every room. Discussing with your real estate agent what may be more fitting for the home can be helpful. They may suggest updating all the carpet to wood flooring or tile, which can be more popular than having a majority of carpet in the home. New flooring can also help the rooms feel cleaner.
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Consider updating light fixtures in the home. Certain light options may be more cost-efficient than others. Think about the benefits of certain types of lighting, such as wired versus wireless and a smart home system that can help with efficiency.
Furnish upgrades
Finishing touches
To finish off your renovations, you can complete the home with minor updates to the paint, flooring, cabinets, counters, and more. Choose a color scheme for each room, and be sure the paint and furniture match. Making each room unique makes it easier for buyers to remember what they looked like. Discuss with your real estate agent how other houses for sale in Minnetonka may be decorated to compare with your own home. This helps you pinpoint what buyers may be looking for. Complete any projects that may discourage interested buyers from purchasing the home. Keep in mind functionality as well as style in the home. Families with younger kids will not want carpet in a majority of the main rooms. Because of this, flooring in main living areas may entice a larger range of buyers with both single adult households or families with young children.
It is important to get a second opinion before starting any renovation project. Keep in mind the timing of your projects and the changing weather which may hinder some renovations. Consider an energy-efficient home that will attract many buyers. You can add technology such as smart home technology or even update the windows to help with energy efficiency. The details of your home are important inside and out. If there are renovations you can add to improve value, consider taking these on.
Staging and styling of the home can make a huge difference when it comes to buyers viewing the home. They want to see a clean, decluttered, and neutral home that is easy to picture their own families living in. It’s best to work alongside an expert real estate agent, such as Steve Schmitz. Steve has been working in the Eden Prairie real estate market for years and has ample experience when listing homes for sale in Edina. Reach out to Steve when you’re ready to get started or want further information on increasing your ROI.