By Melinda Pulliam
Whether you plan to remain in your current home or are planning to move, you may be interested in carrying out some home improvement projects either to enhance your enjoyment of your home or its potential resale value. Even if you are not planning to sell your home in the immediate future, it is always a good idea to consider how the home improvement projects you choose will affect your home's resale value if you ever do decide to sell.
Want to know how savvy investors are increasing property value? Here are a few upgrades that increase the selling price:
Flooring
Wood flooring, if it is in good condition, is a hot commodity. Having floors refinished for resale is a growing trend in today's market. Installing wood floors from scratch is very expensive, so laminate is a great alternative for a faster fix; while it will not increase the value as much, it will not be as big of an investment either.
If you have carpet in your home, it is imperative that it is clean and in good condition when you are trying to sell. Move-in ready homes that have recently replaced carpets tend to sell a lot faster than those which don't. For tile floors, make sure there are no chipped or missing tiles.
Countertops and Cabinets
Countertops are another hot commodity at the moment. Granite or quartz countertops impress buyers and last for a long time. Existing granite countertops should be well maintained and you should have any scratches and damage repaired. If you are having new granite countertops installed, with so many colors and patterns to choose from, it will be easy to find one that will fit well with the rest of the kitchen.
Along with new countertops, new cabinetry and appliances can dramatically increase resale value. Stainless steel appliances and dark wood cabinets can give any kitchen a sleek and modern appearance. Kitchens are the selling point in most homes, and therefore require the most remodeling and upgrading.
Crown Molding
This simple change can add a great first impression to a room. Make sure it is done correctly, as a bad job could hurt you more. Either foam or wood can be used, as the area will be subjected to little wear and tear. While it is almost certain you will get the initial cost back, crown molding will not have dramatic effects on resale. It is simply an additional selling point to impress buyers.
If you are considering a home improvement project and want to be a savvy investor, than consider one of these upgrades.
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Great post! It's true, the NJ Granite Countertops were a selling point for us!
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