Which renovations actually add to house value

Most homebuyers want to be able to buy a house, move in and settle. For you as a seller, it can be easy to just try to sell the house as-is, hoping someone will take it off your hands. But more often than not, you need to spend money to earn money, and with the right renovations you could add thousands to your asking price.

So, if you have some budget left over to make changes to your home before you sell, these are the renovations you should consider. We’ve also included the renovations that aren’t worth wasting time or money on before the big move.

Renovations worth the Investment

High-end appliances

If you’re planning to sell the full experience to potential buyers, investing in new, high-end appliances could bag you some extra pennies. Buyers are savvier than ever before and with the help of the internet, they’ll know exactly how much things cost. A brand new eight hob stove, for example, will really catch their eye.

Hardwood flooring

Hardwood flooring is a hugely desirable feature for potential buyers. Installing this flooring will likely be a large investment for you as the seller, but could easily add thousands to your house value. While you live in the home yourself, you can always use area rugs to maintain the coziness of carpet.

Fireplaces

The National Center for Real Estate Research reports that installing a fireplace can actually increase the value of your home by up to 12%. An old fashioned fireplace is a delightful gem in a period property, while new builds can benefit from a stylish, contemporary gas fire. A new trend emerging is the use of outdoor fireplaces, to enhance the usability of the patio or outdoor space available.

Off-street parking

A little more difficult to provide, but if you can find a way to renovate the front garden into a driveway, or create an extension with integrated garage, your home could be a lot more desirable. Off-street parking feels safer for a lot of people, and can also help reduce car insurance – making it even more appealing to the buyer.

Renovations not worth the investment

Marble countertops

Kitchens are often the first place people look for ways to add value to their home. Marble countertops are a popular choice for those wanting to make the space look more expensive and luxurious. But with so many DIY options available – that look just as impressive as the real deal – marble countertops are unlikely to add a lot of value.

A fancy bathtub

Don’t invest in a fancy bathtub with jacuzzi features and all the thrills. Buyers will either be interested in baths or not, meaning it’s not worth the risk to try add value with an upgrade.

Novelty items

While you might think converting the basement into a bar is a great idea, but this could be an extra bedroom in a family home. Novelty items like bars, sports courts and gyms could all leave you feeling a little unsatisfied with your house price after a re-evaluation.

Think about what will appeal to the masses, and avoid anything that feels like a risk.

Leave a Reply

Your email address will not be published. Required fields are marked *