Which Room Should You Renovate to Increase the Resale Value of Your Home?
If you are considering selling your home, there are many factors to consider. What will your sale price point be? Should you complete any repairs or renovations? Your home needs to be evaluated to determine what can be changed and how you can add value to the home. When it comes to renovating rooms to increase resale value, the top choice for most homeowners is the kitchen.
Kitchens sell houses, so you want your kitchen to be visually pleasing as well as practical. Potential buyers want to see plenty of cabinet space, quality appliances, and charming features. Take a look around your kitchen. Are your cabinets old or outdated? Are your countertops chipped or an odd colour? Review your kitchen as a potential homeowner. What would you like to see changed? Renovating a kitchen space can add major value to the home, helping you to earn more than you ever thought possible.
If your kitchen is not in too bad of shape, you might just make a few minor changes to make the space more appealing. This can include painting the cabinets, adding new countertops, a new sink and faucet, and backsplash. Any of these components can go a long way to adding value to your kitchen. Even changing out the lighting and adding new hardware to the cabinetry will help in upping the sales price of your home.
If your kitchen is outdated, it is recommended that you consider a complete overhaul. An old kitchen will make your home feel outdated and can put home buyers off. Potential home buyers want to see new appliances, shiny countertops and clean and tidy cabinets. If you have old and discoloured appliances, faulty cabinets and old countertops, the kitchen can be a non-selling point for the home.
When your kitchen is in rough shape, consider a full remodel. This would include gutting the kitchen, upgrading plumbing, electrical, and exterior wall insulation, removing the cabinets and countertops, and starting from scratch. This could be a lot of work and time consuming, plus expensive. However, you will have a brand-new kitchen that will help you get top dollar for your home.
What to Consider
When selling your home, it is important to look at how much money you can invest into your home to still make a profit. For most repairs and renovations, you may not make your money back with the sale of your home. However, a new kitchen could help you sell your home much faster, and for more money than you could have, if you left the kitchen in “as-is” condition!