Whether you want to sell your home quickly or you’re thinking more in the long-term, you need to know that not all home improvements will actually increase your home’s value.
So what home improvements pay off and which ones fall flat?
What Home Improvements Pay Off?
Before you think about making any home improvements, look to regular maintenance. In many cases, performing routine maintenance – such as making sure the heating and air conditioning systems work properly and that your yard drains correctly after heavy rains – is much more valuable than any home improvement you could make.
Once those things are out of the way, some updates tend to increase homes’ value more than others. According to recent studies, home improvements that have the potential to pay off include:
- New home siding
- A new front door
- Minor kitchen updates
- New windows
- Bathroom updates
- Additional rooms
- Outdoor living space
- Solar and other energy-efficient improvements
What Home Improvements Fall Flat?
In the grand scheme of things, it’s important that you remember your preferences might not be the same as your future buyers’ preferences.
Setting up a hobby room that’s too specific may not be a good idea – especially if it’s not incredibly common. For example, while a home theater room may be a great choice, a room to showcase a stamp collection or one that’s built to display antique bowling balls may not.
Other home improvements that don’t statistically bring high returns include:
- Home office remodels
- Garage additions
- Upscale bathroom improvements
However, the most important thing to remember is that you need your home to remain functional and meet your needs while you’re still living in it. Not every home improvement will pay off when you sell your home… but those that make you happy just might be worth the expense.
Are You Selling a Home in the Tampa Bay Area?
If you’re thinking of selling your home in the Tampa Bay area, whether it’s in Hillsborough, Pasco or Pinellas County, we should talk. Call us at 727-584-8480 or 813-961-6000. You can also contact us online for more information about our custom-tailored marketing plans that we develop for each of our clients.