Making Home Improvements Based on ROI

If youre about to put your home on the market, there are probably some repairs and changes that need to be taken care of to ensure you get top dollar for your home.

But before you begin tearing your home apart, its important to understand that some home improvements can be categorized as major and necessary, while others are more minor in nature.

When picking which improvements to take care of prior to listing your home, remember that not all home improvement projects offer the same return on investment. Here are some tips:

Cosmetic RepairsMost prospective homebuyers know to look beyond cosmetic damage (peeling paint and scuffed floors) when theyre looking to purchase a home. More importantly, theyll want to know that the major systems in the home are in good working condition, such as any and all plumbing and electrical components.

Luxury FixesIf youre updating your kitchen or bathroom before listing your home, make sure you’re not going overboard on the finishes unless it’s a luxury listing. Quartz counters and a new double wall oven in the kitchen may not get you your money back when you sell, so keep it modern, but also keep the costs in mind.

Trendy RepaintingA fresh coat of paint will work wonders when it comes to giving new life to any room in your home, but if youre going to take on this project, its best to not get too colorful. If youre serious about selling your home, youll want to attract as many potential buyers as possible, so stick to neutral colors that will appeal to the masses.

Published with permission from RISMedia.

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