Are you thinking about making home improvements before you sell?
It's easy to get caught up in the excitement of renovations, but not all upgrades yield the same return on investment. In our experience, 9 out of 10 sellers are wrong about which improvements they should make before listing their home on the market. That's why focusing on projects that offer the most bang for your buck is crucial. Here’s a look at the best home renovation projects to help you get the most for your Lake Norman home.
Adding Square Footage With Your Garage, Attic, or Basement
Let’s start with the best way to get more for your home...by adding heated square footage! Generally speaking, the home improvement projects with the best ROI add square footage and functional space. If you are considering expanding your home, incorporate an open floor plan that buyers will love.
Unlocking hidden potential in your home can be a game-changer when it comes to getting your return on investment and finishing your basement is a prime example. Let’s be honest, homes around the Lake Norman area typically don’t have basements. But, if you do have an unfinished basement, that’s a great place to start!
Transforming your garage or attic into fully functional areas helps expand livable square footage and can add significant value to your property. Potential buyers are often drawn to homes with finished basements because they can see the potential for additional living space, a home office, or an entertainment area.
Tip: Stick to an open floor plan that will create a sense of spaciousness to cater to the modern preferences of many local buyers.
Minor Kitchen Upgrades
Potential buyers don’t want to walk into the kitchen and start counting the dollar signs. Minor kitchen upgrades such as installing new countertops, updating lighting fixtures, and replacing hardware are all great examples of projects with high ROI. These relatively simple improvements can completely transform the look and feel of a kitchen without the need for a costly renovation. Replacing outdated hardware with modern, trendy options can give cabinets and drawers a fresh, updated look without breaking the bank. Swapping outdated lighting fixtures can also transform the room.
Tip: Looking for a money saver in your kitchen upgrade? Replace the cabinet fronts and leave the cabinet boxes in place. Opt for a modern and functional shaker-style front that will attract potential buyers.
Primary Bed & Bath Updates
If you want a return on investment in your master bedroom and bathroom, you can skip things like heated towel racks and floors. Simple enhancements such as fresh paint, updated fixtures, or modernizing the lighting can breathe new life into these important spaces. Sometimes, primary bedrooms can double as workout spaces and home offices. Start by removing excess furniture, personal items, and unnecessary decor to highlight the master bedroom's natural flow and generous space.
Tip: A fresh coat of neutral paint is excellent for resale because buyers can easily imagine their belongings in the room without changing the whole house.
Enhance Outdoor Living Spaces
When considering where to spend your renovation money, catering to your area's needs is essential. Here in Lake Norman, well-designed outdoor spaces are a major selling point. Investing in enhancing your outdoor spaces, such as adding a fire pit, patio, or outdoor kitchen, can yield exceptional returns. Any updates you make to improve your home's curb appeal can help, too. Buyers around the lake are looking for well-maintained homes that go beyond having nice flower beds.
Tip: Did you know that adding stone veneer to the front of your house can recover about 96% of the resale cost (according to Remodeling Magazine.)
Updated Flooring
Investing in new flooring can also be a significant ROI booster for homeowners. Updated flooring can transform the look and feel of a home, making it more attractive to potential buyers. Whether you opt for natural hardwood or luxury vinyl plank flooring, modern flooring materials offer durability, low maintenance, and timeless appeal.
Tip: If you have dated hardwood floors, you don't necessarily have to replace them. Refinishing hardwood can make the floors look like new for a fraction of the cost.
Let’s Talk Before You Make Home Renovations
Before you start making costly changes, let's schedule some time to chat. We want to make sure you don't waste your money! Remember that trends vary from market to market. Technologies depend on cost, and older buyers with disposable incomes have different values and needs, so understanding demographics can be valuable.
The bottom line is we can help you get the most for your money here in Lake Norman. Let's talk!