Investment, Property

Which renovations offer the best return when you sell?

If you are in the business of flipping houses or if you are looking to sell your house, small renovations can go a long way in raising the value of the house and therefore boosting your return on investment. When you are looking to improve the equity of your house, you need to pay more attention to the visual aspects of the house because most buyers make the decision to purchase homes based on what they see. Clients choose to buy specific homes because the appearance of the house triggers an emotional reaction which turns into a desire to own the house. To put it simply, you need to focus your renovations on things that people can see, and avoid wasting your money on things that are out of sight. The following renovations offer the best return when you flip your house.

Repainting using neutral colours
A fresh coat of paint can do wonders for both the interior and the exterior of a house. Painting is perhaps the cheapest renovation tool that you can use to instantly boost the value of a property. Even an old house will feel a little fresh and modern with a coat of paint, especially if it is the right color scheme. When painting a house that you intend to sell, you should use neutral color schemes. Neutral colors such as creams tend to attract the highest amount of potential buyers. Bold colors are risky because they don’t fit most people’s personalities, and they can, therefore, put off potential buyers.

Increase the visual appeal of your kitchen
You don’t need to spend a fortune remodeling your kitchen for you to increase its value. Just focus on things that the buyer can see. The kitchen is one of the major selling points for most houses, and improving its appearance can significantly improve equity. The trick to getting a kitchen to look new at a low price is to replace all cabinet doors with modern looking ones while keeping the cabinets. If the cabinet doors are still in good shape, a fresh coat of paint will suffice. Install new handles on all cabinets and draws to make the décor look more modern. You can also replace the countertop with a more appealing one, preferably one made of granite. Ensure that the appliances match the décor, and replace the stovetop if it’s old and unappealing. New tap fittings will also make your kitchen more appealing to buyers.

Modernize the bathroom
If the bathroom décor is a little dated, you don’t necessarily have to redo it from the ground up. If you dislike the color of the bathroom tiles, the good news is that they now make paint that goes over the tiles, so you can change the color of your tiles without having to actually replace them. If you want your bathroom to appeal to most potential buyers, a white décor is probably the way to go. White decors make bathrooms look bigger, cleaner, and brighter.

Improve your floors
Install a new carpet in your house, or polish your floors. If buyers walk into a house with dirty carpets or ruined floorboards, they will assume that the property has been poorly maintained, and they will think that the house possible has other hidden problems. Flawless floors tell the buyer that the property owner likes to pay attention to details, so they will be more likely to buy the property at your price.