There’s plenty to consider when getting your home ready to hit the market. From pricing it right and timing, to whether or not you should stage it, before the For Sale sign goes up, important decisions must be made. With all of that, there’s also another major thing to consider and one of the most commonly asked questions we get from sellers . . . “Should I renovate the house before selling it?” 

Sure, giving your home an HGTV makeover can seem like the best way to compete in the market, but the real questions are will it really give you the return you’re looking for, and is it worth your time, money and energy? 

Since millennials make up a large portion of the buyer market, you must consider that 48% of young buyers desire a turnkey house that requires little maintenance, Business Insider recently reported. But with current lumber shortages and recent cost increases associated with labor and material, a high-end remodel can be upwards of $150,000. 

Truth is — not all renovations are created equal when it comes to raising your home’s value. In this article, we’ll cover the renovations that are proven to have a good return on your investment as well as impress buyers.

Pictured: Granite countertop by Sidekix Media on Unsplash

INTERIOR PAINT *RECOUPS UP TO 109% OF COSTS

A new coat of paint can freshen up the look of your home, while also making it appear larger. Choose warm, neutral colors such as gray and greige, the current best colors for selling a house, according to a recent Rocket Mortgage article. If you decide to paint your home yourself, you will save on labor costs and the project for a standard 1,200 sq ft home will cost around $967-$1,112. If you are short on time or aren’t confident you will do a good job, enlist a professional painter, which will cost anywhere from $2 to $6 per sq ft. 

Our local go-to painting professional is Mark Gallagher with MPG Painting, who can provide a free estimate on painting your home.

Photo by Chastity Cortijo on Unsplash

MID-RANGE BATHROOM REMODEL *RECOUPS UP TO 60% OF COSTS

Buyers these days are understandably drawn to updated kitchens and bathrooms, so if your bathroom is outdated or will push buyers away, you should definitely look into renovating it. With a good contractor on your side, this sort of project will take roughly four weeks to complete and will cost about $24,000 or so. If this price tag scares you, you can consult with one of our trusted lenders at Delta Lending or Big Valley Mortgage, or Nu American Mortgage to discuss if refinancing for major home improvements is a good idea for your situation. You can also opt for small cosmetic changes that will give buyers the feeling that your bathrooms are newer and more modernized such as:

• Removing wallpaper and replacing it with a modern, neutral coat of paint. 

• Installing hardware on drawers, cabinets and closets.

• Replacing dated light fixtures and fluorescent lighting with LED fixtures and bulbs.

• Repainting or refacing bathroom cabinets.

• Swapping out your countertops for new ones (a relatively inexpensive upgrade).

For every $1 spent on bathroom renovations, you can expect to make back $1.71 in home value, according to a recent Zillow article.

Photo by Sidekix Media on Unsplash

MID-RANGE KITCHEN REMODEL RECOUPS UP TO 57% OF COSTS

Another show-stopper when it comes to wow-ing buyers shopping for homes is a beautifully remodeled kitchen. Costing as much as $75,000 for a mid-range remodel, an updated kitchen ranks high on millennial homebuyer’s priority lists. 

There are less expensive ways to modernize your kitchen. In fact, according to Consumer Reports, spending as little as $5,000 on your kitchen can bring up to 7% back in returns when you sell. Some of these smaller changes can include 

• Replacing old and broken appliances with new, Energy Star-certified models.

• Applying a fresh, neutral coat of paint to the walls and updating the backsplash.

• Repainting the cabinets and replacing the hardware.

• Installing stone, quartz or recycled countertops.
  

Photo by Ralph (Ravi) Kayden on Unsplash

COSMETIC LANDSCAPING RECOUPS UP TO 80% OF COSTS

No doubt, the exterior of your home will make the first impression on your buyers, whether they are looking at photos of your home online or if they’re stopping by in person. It’s worth the cost and effort to spruce up your curb appeal. If homes on your block have taken it up a notch by trimming trees and laying fresh sod, you may want to do so as well.

Do things like mowing the lawn, trimming shrubbery and touching up the paint or stain on your fence. If you hire a professional landscaper and depending on the extent of your landscaping, you can spend anywhere from a few hundred dollars to tens of thousands of dollars freshening up your landscaping. No worries, this is one the best renovations you can make on your home before selling, as it is more affordable and recoups the majority of cost spent as compared to other renovations on the list.

GARAGE DOORS RECOUPS UP TO 94% OF COSTS

Replacing your garage door can cost as little as $1,500 and because of its affordability and how much of the cost you can recoup in the sale, it’s one of the best ways to increase your home’s value. When replacing your garage door, make sure that the finished look should complement your home’s style.

Still not sure which renovations you should do before you sell your home? Contact our award-winning team to help you determine which upgrades will best suit your timeline and budget: 916-801-1105.