Before putting your home on the market, it makes sense to do a bit of upgrading and remodeling to help improve the resale value.
However, you should be careful about what you decide to upgrade.
Some remodeling projects don’t allow you to recoup the majority of your investment.
The Best Remodeling Projects
1) The Kitchen
Yes, you had to have known that the most popular room in the house would be the first one mentioned on this list! When potential buyers are looking to purchase a new home, the kitchen is oftentimes one of the biggest influencers of the entire house.
The reason people LOVE kitchen remodels is that the upgrades made are usable — like appliances, cabinetry, and surfaces (like islands and countertops). And most importantly, most kitchen upgrades can recoup an average of 80 percent of the cost!
If you’re going to commit to a remodel before you sell, start in the kitchen!
2) Attic Insulation
You like to be warm in the winter and cool during the summer. Yes, having an efficient HVAC system will help you achieve this, but you need the right amount of quality insulation to keep warm air out during the summer and keep warm air inside during the winter.
The great thing about updating your home’s insulation is that there is almost always a 100 percent recoup of the cost. This means you’re going to gain resale value without taking a financial hit at all!
The Worst Remodeling Projects
1) A Home Office
If you work from a lot and you’re not planning on moving anytime soon, go ahead and build the home office of your dreams! However, don’t feel like everyone will share the same sentiment with you…
While they can be useful to a person who works from home, they aren’t something homebuyers are looking for as a selling point (since many do not work from home). This newly renovated home office can then be viewed as a wasted space — and oftentimes are converted into additional bedrooms.
So when it comes to home offices, don’t even bother unless you’re planning on staying in your house for years to come.
2) Master Bedroom Extension
Having a giant master bedroom is a positive — but not at the cost of how much an expansion is.
This can be one of the most expensive remodeling projects, as well as the one that doesn’t recoup a lot of the cost. The reason this project doesn’t recoup as much money is that an extremely large master bedroom isn’t sought after like it used to be.
Some people still prefer to have larger master bedrooms, so only do this if you’re planning on enjoying the extra room for many more years.
For those looking to sell their home in the near future, improve your home by remodeling a few areas while staying away from others.