Do you have plans to sell your home? The market has calmed down a bit since its frenzied state last year, and the Brenham area is now experiencing a balanced market where the number of potential buyers and homes available are roughly the same. This means that, while it may not be as easy to sell your home as it was when the market was hot, you can still be successful if you go about the process the right way. One of the best things you can do in this type of market is complete some remodeling or upgrade projects to make your home more attractive to potential buyers. Here are some projects with the best return on investment.
1. Convert an Attic to a Bedroom
One of the single best ways to increase the value of your home is to add more bedrooms. If you’re in the enviable position of having a convertible attic space, you have the perfect project on your hands that can result in 93.5% return on investment (and increased buyer pool). The average cost of an attic-to-bedroom conversion is approximately $39,200 and you can expect to get back $36,700 of that investment when you sell. If your home already has an adequate number of bedrooms, you could also consider converting the attic to a dedicated office space to attract those buyers who will be working from home after they move in.
2. Remodel the Bathroom
Bathrooms are one of the most common areas where homeowners perform remodeling projects before selling. Master baths are popular projects, especially if they are very outdated or in disrepair. Even a minor bathroom remodel, including replacing a vanity, flooring, lighting, or showerhead, can return up to 100% of your replacement. This type of project tends to cost only a bit above $10,000, so it’s affordable for most homeowners. On the other hand, major bathroom remodeling can run as much as $25,000 or more and usually includes a complete reconfiguration of the bathroom area. Those who do major bathroom remodels tend to gut the room completely so they can start over from scratch. Though a significant bathroom remodel can be a bit of a headache (especially if you have a large family and a limited number of bathrooms), they tend to return around 93% of your investment.
3. Invest in Curb Appeal
Whether interested buyers find your home online, by driving by, or visiting in person, the first thing they are likely to see is the exterior. This means that a patchy lawn, peeling paint, or even a front door that’s in disrepair can make them abandon your house in favor of another that looks more well-kept. Investing just a few thousand dollars in upgrading your curb appeal can have a huge impact on how quickly you sell your home (and for how much). Consider getting your yard tidied up by a professional, adding some stunning flowers and foliage, and upgrading the outdoor lighting in the front of your home. Most smaller landscaping projects return almost 100% of the investment made in them. If you want to up your game even more, replace or refinish your front door. This small improvement alone can return more than 100% of your investment.
4. Remodel the Kitchen
The kitchen has always been the heart of the home, but this has recently been taken to new levels. Those who were used to going out to restaurants have been forced to cook (or dine on delivery) in their home kitchens. This means that buyers want spacious, functional rooms and attractive enough to host friends or neighbors for a meal. A full kitchen remodel, which usually involves knocking out walls and changing the room’s floor plan, can cost up to $126,000 if you go all-out. These types of projects tend to return around 54% of your investment. If you want to spend less and recoup more, your Brenham realtor may suggest a minor kitchen remodel that incorporates new lighting, flooring, cabinets, or upgraded appliances. The average cost of a minor kitchen remodel is $21,000, and homeowners can expect to get 81% of that back when they sell.
5. Replace the Windows
Those interested in buying Brenham real estate want comfort, attractiveness, and safety in their new homes. Replacing old windows with energy-efficient ones checks off all three boxes. New windows increase curb appeal because they are more visually appealing than old ones with splintering frames or scratched glass. They also make a home more energy-efficient and comfortable. Depending on how many windows you are replacing in your home, you’ll likely spend around $9500 on this project, with an expected ROI of 86%.
6. Other Upgrades
Knowing what current potential buyers are looking for in homes can help you make smart decisions when it comes to remodeling. If you want your home to compete with others on the market, you need to look into projects such as creating a dedicated home office space, adding in separation between rooms, and expanding or improving your outdoor living space. Buyers want a home where they can work, cook, learn, and entertain comfortably and pay more for houses with these types of lifestyle-enhancing upgrades. Though there is no guarantee how much these projects will return on your investment, they will almost certainly help your home sell faster and for higher offers.
Is this the year you put your Brenham home on the market so you can relocate or upgrade to a larger house? Though investing in one of the six projects in this article will help you boost your selling price, the best way to ensure you get the most out of your home is to work with an experienced Brenham realtor like Amanda Tatum.