Everyone wants his or her home to be as valuable as possible. Most of us want to get the most out of our homes if we ever needed to sell them. Sometimes older homes can have problems that reduce their value.
If you are looking to sell an older home, here are some tips you can use in order to increase the value of your home. Some may be more obvious than others, but are all guaranteed to increase the value of your home if you use them correctly.
We used the 2016 Cost vs. Value Remodeling Report for the Los Angeles area to help you get an idea of what will work best in your home. The numbers for job costs, resale value and cost recouped are averages for the LA and Orange County area over the past year.
Kitchen Cabinets
Minor Kitchen Remodel
Job cost: $24,043
Resale value: $25,978
Cost recouped: 108%
This is one of the things prospective homebuyers look at when deciding whether or not they want to buy a home. New kitchen cabinets can go a long way toward giving your kitchen a modern look and feel that it might not have had before with your old out of date models. The amount of value that new kitchen cabinets add to a home compared to their cost makes them a great way to add value to your home.
Countertops
Major Kitchen Remodel
Job cost: $70,383
Resale value: $57,057
Cost recouped: 81.1%
The kitchen is a great place to add value since it a room most people will need to be functional and useful. It is a place where styles change the quickest, so having a modern look goes a long way towards making your home look as stylish as possible.
Brand new countertops are sure to give your kitchen a modern look and add value. This is especially if they are coupled with new cabinets. Keep in mind however that this can become a major kitchen remodel so this may not be a job if you’re looking to sell ASAP. If you have time to enjoy the remodel yourself however, it’s definitely worth the revamp.
Master Bathroom
Bathroom Remodel
Job cost: $22,084
Resale value: $18,546
Cost recouped: 84%
The Cost vs. Value report doesn’t cover master bathroom remodels specifically, but it does give us an idea of what an average bathroom update will fetch you on the market. Take into consideration it’s in one of the most personally important rooms to a homebuyer and you’re looking at a great place to put in some extra effort and upgrades.
They say the master bedroom should feel like a retreat. By upgrading an older master bathroom with some spa-like features like a Jacuzzi tub, you make your home very desirable. People want to feel like they are in luxury when relaxing in their tub after a long day at work. A modernized master bathroom should add a lot of value to your home and get more buyers interested.
Eco-Friendly Elements
Everyone is trying to be as green as possible these days and it doesn’t cost much at be eco-friendly. If you update your home with some eco-friendly features you will make your home even more attractive to younger modern home buyers. And actually helping the environment doesn’t hurt either.
Simple things like changing out light bulbs and using solar panels and light saving switches can go a long way. If you decide to repaint, use VOC (volatile organic compounds) free paint. Other ideas like having pros like Lifetime Exteriors restore the exterior brick and siding on an older home can also increase value and make it look more attractive to potential buyers.
Before you start making any updates to your home, talk to a First Team agent about how much your home is worth. A local expert can help you decide which updates are worth your time and money before you list your home. Search for a specialist near you or reach out and we’ll connect you with a top agent in your neighborhood with the expertise to help.
Email us at clientservices@firstteam.com
Call us at 888-870-1142
This guest post is written by Brooke Chaplan, a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most her time hiking, biking and gardening. Brooke is available via Twitter @BrookeChaplan.
