Home Renovations That Offer the Best ROI for Resale
The following is a guest post by GUSTAVO GONZALEZ, Senior Manager of Content and Multimedia at Coldwell Banker Real Estate, LLC
Looking to make some upgrades and wondering which will have the biggest payoff? If you guessed kitchen and bathrooms, you're spot on. Another good one is landscaping. Whether they're big or small, a few upgrades can pay big dividends when it's time to sell your home. Follow these tips to prioritize and put more money in your pocket when you're ready to sell.
Before you do anything, make sure you consider the value of your house, the neighborhood, the housing market where you live, and how soon you will sell after you make the improvements. If you live in a neighborhood where properties are selling for $300,000, doing a $150,000 renovation may not add as much to your property value as you might think.
Kitchens and Baths
One thing to keep in mind is that just because a remodel is expensive doesn't necessarily mean it will give you the best return on investment. Even minor updates can yield a big return. Consider painting, refinishing surfaces, and upgrading appliances, which can lead to a big payout.
Sticking to a budget is always important, and keep in mind that an average, medium-sized kitchen remodel can cost between $20,000 – $50,000, while the average bathroom remodel is $10,000. In most cases, homeowners see a return of 100% or more with a kitchen or bath remodel, so it's definitely worth the investment. Plus, you get to live in a beautiful new space.
A Finished Basement
If finishing your basement is something you've been putting off, now might be the perfect time. According to cost versus value surveys conducted annually by Remodeling magazine, "The average return on investment for a basement project is around 75 cents on the dollar. Besides the financial gains, refinishing a basement will add new functionality to your home: more bedrooms, more efficient storage, and more space for entertaining." Seems like a sure-fire win, win.
Add Curb Appeal
When buyers see that the outside of the property is taken care of, they'll be more excited to see the inside. Remember, first impressions make lasting impressions. According to Anji, "Curb appeal can increase your home value by 7%. Buyers are increasingly prioritizing outdoor living spaces and an attractive lawn has the biggest ROI at 256%. Trees can add $1,000 to $10,000 to your home value and simple landscape maintenance tasks usually pay for themselves."
Whether you're in the market to sell your home or just want to make some budget-friendly renovations that you and your family can enjoy, making the right upgrades can help enhance your quality of life and add a few more dollars to your bank account down the road.
Ideas for Upgrading Your Patio
Delta Media Group
Maybe you've been pondering all those cool ideas seen on TV and the web about redoing your drab slab of a concrete patio so that it's a standout feature of your indoor/outdoor entertainment area. Here's the deal. We are all in love with the idea of extending our living and entertainment area into the outdoors. And why not? There are dozens of relatively inexpensive and yet innovative hacks that will make your outdoors as inviting as the indoors, so let's start working from the ground up by renovating that boring, cracked, or scuffed-up concrete patio and see how dazzling it can be.
Although all these projects are relatively inexpensive, you can obviously spend more on some than others. So if cost is a factor, then you may want to go with simple painting or staining.
Once you're done with your new floor, it's time to think about decorating. You might start with a weather-resistant outdoor rug, perhaps in the dining area. Decorate with flower boxes or containers of flowers that can change with the season and move indoors when it's cold. Hang up strands of lights. Add a water feature, which could be a fountain with plumbing or a self-contained model that runs on electricity and recirculates the water.
Let your creativity and inner interior decorator run wild as you think up ways to jazz up that formerly dull space and make it shine.
Have you made some updates to your outdoor living space? Show us some pictures in the comments!
An island makes a wonderful addition to your kitchen, adding an extra workspace, seating, and storage. Besides its practical benefits, a kitchen island can also transform your kitchen's appearance by creating a stylish focal point. From the shape of your island to its color and features, your options are nearly endless, so you can design an island that suits your needs and style.
Our real estate agents suggest the following creative ideas for your kitchen island:
Contact us if you're looking to buy a home and would like to see Spokane homes for sale. Our agents have years of experience and are ready to help you find your new home.
Our real estate agents have noticed a surge in interest in vintage furniture and home decor over the last few years. This old-fashioned aesthetic can make your home feel cozier and more personal. But how do you find these one-of-a-kind pieces for your home?
Want to bring this popular trend into your home? Use our guide to find the best vintage home decor items in Spokane.
Hoping to upgrade your interior design with a few new vintage items? Here are some places to look for new pieces near our Spokane homes for sale.
Classic furniture never goes out of style. Give your home a whole new look with some choice vintage pieces from any of these Spokane small businesses, and contact us today to buy or sell homes in the Spokane area.
When looking at Spokane homes for sale, buyers often plan how they might fix up a home or make it their own. The right home improvements can go a long way towards making a home more livable and increasing its value. But as your list of home improvement projects grows, how do you decide which ones to tackle first? Here are some tips to help you prioritize your to-do list.
By using one, some, or all of the strategies above, you can better prioritize your home improvement tasks. If you're thinking of moving to a new home or selling your current one. Click here to learn more about our services.
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When you buy a new home, you want it to be a reflection of you and your style. As you consider various trends, you may come across a popular new one called cottagecore. But what is it, exactly, and will it work for your interior design needs? Essentially, cottagecore home decor is a nostalgic journey to a simpler time and place. If sipping tea in a garden, breathing in the delicate scent of roses and honeysuckle strikes your fancy, this could very well be the interior design style you are seeking. If the homes you are asking to be shown are reminiscent of country living, you may want to consider these key elements:
If you've been waiting for some of the vintage things you love to come back in style, the time has come. Our real estate professionals will be happy to help you find your new home. Contact us when you're ready to make the change.
Even though your pets are part of your family, potential buyers are likely to be less than thrilled about your four-legged family members. When it's time to show your home, here are a few things pet owners should do to ensure their home looks its best when compared to other Spokane homes for sale.
Looking for a home with more space for your furry family members? Get in touch today to get started!
When revamping your kitchen, you might be tempted to go with the most recent design or that trendy color of the year. Just because it's trending doesn't mean you should go for it.
We can tell you that kitchen design trends come and go, but certain classic looks have stood the test of time. These designs are simple, beautiful, and appeal to a wide audience. And because the kitchen is one of the most expensive areas to renovate, it's smart to stick with what's tried and true. Here are the top 7 timeless kitchen trends that have been loved for decades.
Design a kitchen that buyers looking for Spokane homes for sale will love no matter the decade. Reach out today for more information.
COVID-19 is a new reality that's now affecting our homes and the way we live. It's more important than ever to clean and sanitize your home. We've combined a spring-cleaning checklist with tips from the CDC to protect your home. Here are some best practices to keep your home clean and virus-free.
Disinfecting Your Home
General Spring Cleaning Tips