If you’re investing in real estate for resale, you need to know what types of renovations to prioritise. This can help your property create some buzz in the market, with a price you can easily justify to serious buyers.
Struggling with what improvements you need to invest in? Worry no more because we’re here to help.
Without further ado, here’s a list of the top 5 priority renovations you need to make:
1. Upgrade or update the kitchen
The kitchen is considered a key part of the home, so check if your fixer-upper needs new cabinets, drawers and better-looking countertops. Maybe the kitchen only needs a few cosmetic touches or requires total renovation. Either way, make sure you fix all issues in the kitchen and highlight its best features so it gets the attention of serious buyers.
2. Give the bathroom a makeover
Like an old kitchen, a bathroom can look dated. So swap those old bathroom fittings and fixtures with some shiny new ones. If need be, get the sink, bathtub and floor tiles changed, too. Inspect the cabinetry and the rest of the bathroom to find out whether anything needs to be replaced, fixed, or repainted.
3. Invest in new paint and flooring materials
Peeling, cracked or chipped paintwork can instantly add years to the look of your property. The same can be said for well-worn flooring. Whilst hardwood floors are tremendously appealing, you can also invest in attractive carpeting. Don’t forget to apply a fresh coat of paint or two to reinvigorate the look of your property instantly.
4. Improve curb appeal
Nothing attracts the attention of a buyer the way a façade does. So, get any broken or damaged fencing fixed, repaint where needed and improve your landscape. Add some flowering plants or fresh blooms in pots to add colour to your yard instantly. Make sure there are no overgrown weeds and that the grass in your lawn is trimmed to the right height.
5. Don’t forget the lights
Replace dated lighting fixtures and broken bulbs. Add recessed lighting and dimmer switches, as well as some task lights where appropriate. Or you can skip the dimmer switches and focus on replacing light switch covers that complement the overall ambience or design of the property. These improvements can make it easier to attract buyers who notice the little details.
Of course, you can always invest in more improvements that you think can increase the value of your property. However, the ones listed here should be your top priorities.
By implementing these key renovation strategies, you can make your property more attractive to serious buyers and sell it for a tidy sum.
If this article has inspired you to think about your own unique situation and, more importantly, what you and your family are going through right now, please contact your advice professional.
This information does not take into account the objectives, financial situation or needs of any person. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation or needs.