Many people wonder which home improvements add the most to their home’s value. When on a budget and faced with the task of improving your home for ultimate resale value, it can seem daunting to decide what needs the most work. While there are some improvements that cost a lot of money, many are simple, such as painting the entire home for a fresh new look. This can be accomplished for a little money and and a little elbow grease and will significantly improve the appearance of your home.
Another relatively easy improvement is to blacken the driveway so it looks new again. This has significant curb appeal. Installing a new porch light can give a fresh look to a dated entry way.
When faced with selling older homes, there is much more to consider if you want to maximize resale value. Safety and comfort issues should always be addressed before aesthetic issues. Many homebuyers are limited to what they can buy, even if they plan to do their own updates. Someone with a VA-backed loan for example, will not be able to purchase a home with safety issues not corrected.
Is the home wired properly? How old is the heating/cooling system? Does it need a new roof? After these issues are addressed (which can be quite costly) it may be prudent to concentrate on a couple rooms to update. Research has shown that sellers get more return value for kitchen and bathroom upgrades than any other room.
Kitchens can be updated with new cabinetry, counters, and stainless steel appliances. Avoid brightly colored appliances as they may detract from a potential buyer’s view of your home. This can be a pricey upgrade, but it is often returned with money to spare at the time of the sale of the home.
Another big upgrade for big returns is to remodel the bathrooms – all bathrooms in the house. As long as the fixtures are neutral, this will give your home great resale value. New flooring, especially tile, is a winner with home buyers. Installing energy efficient showers and toilets may impress buyers as well.
It’s important to keep in mind the maximum value of homes around your neighborhood. If the highest sale in the past year was $500,000 and your home is currently valued at $475,000, it is not prudent to spend $100,000 in upgrades. Spend the additional $25,000 in upgrades, but don’t go over the maximum sale value in the neighborhood unless your house is bigger, has more acreage, or other amenities that will make it worth more.
THINKING OF SELLING YOUR TAMPA BAY AREA HOME?
If you’re interested in selling a Tampa Bay area home, please contact us for more information about listing your home. Check out our helpful article describing the process and how to decide if it’s the right time to sell.
ARE YOU BUYING A HOME FOR SALE IN TAMPA BAY?
If you’re thinking about buying a home in Tampa Bay, do a quick online search or check out our:
- Tampa Bay homes for sale under $100,000
- Tampa Bay homes for sale between $100,000 and $200,000
- Tampa Bay homes for sale between $200,000 and $300,000
- Tampa Bay homes for sale between $300,000 and $400,000
- Tampa Bay homes for sale between $400,000 and $500,000
- Tampa Bay homes for sale between $500,000 and $600,000
- Tampa Bay homes for sale between $600,000 and $700,000
- Tampa Bay homes for sale between $700,000 and $800,000
- Tampa Bay homes for sale between $800,000 and $900,000
Our experienced agents know the area and would love to find you the perfect home in the Tampa Bay or any of the surrounding areas. When you’re ready, call us at 813-961-6000, or contact us online. We handle real estate in Hillsborough County (the Tampa – St. Petersburg – Clearwater metropolitan area), real estate in Pasco County (Port Richey, New Port Richey, Dade City, Zephyrhills and San Antonio), and real estate in Pinellas County (Tampa – St. Petersburg metropolitan area.) We’ll help you find the right home for your needs!