With the Hampton Roads housing market seeing higher home prices and lower inventory, you may be considering braving rising mortgage rates and listing your home to get the most out of selling your property. While you may stand a chance of a quick sale in this kind of market, you still want to list your home at its best. Buyers are eager, but they want something appealing and worth the spend. Here are a few home improvements you can make that will give you the best ROI (return on investment) when you sell.
Without changing floor plans, a minor kitchen remodel can cost you around $15,000. This includes replacing appliances, cabinets, sinks, and countertops. And even if you aren’t ready to fully replace everything in your kitchen, you could start by painting your cabinets and changing out the hardware. A newer kitchen is a buyer's dream. It saves them the heartache of doing it once they take over the home and could allow them to excuse other dated areas of the home.
Right behind a kitchen remodel is the bathroom remodel for the most desired upgrade in a home. Again, if you aren’t in the position to completely gut your bathrooms there are still ways you can breathe new life into them. Replace tubs, shower heads, toilets, and sinks. Swap out old knobs and pulls. A minor bathroom remodel can cost you around $11,000.
Not ready to spend thousands? A fresh coat of paint can do wonders for a room. This may be the easiest and cheapest update that you can DIY completely on your own.
The outside of your home is just as important as the inside. After all, it’s the first thing a buyer sees before they ever step foot into your home. Making this update can be tricky. You don’t want to do a complex overhaul that could seem impossible for a new buyer to maintain themselves, but you do want welcoming curb appeal. Mow your lawn, trim hedges and shrubs, clear out debris, and weed gardens and flower beds.
The exterior is all about making a good first impression. Consider replacing or painting your entry door. Also, take a look at your siding and shutters. See anything cracked or broken? Now is the time to replace them. How are your driveways and walkways? Any cracks in your concrete? Consider giving these items a little TLC too.
Lean on your real estate agent to help you identify what repairs and updates need your attention first and what kind of upgrades are trending in your neighborhood. Connect with one of more than 9,000 agents to help you navigate the market. Ready to buy but you’re not sure what you can afford? Check out the mortgage calculator to help estimate possible monthly payments. Download the REIN.com app and put the power of fresh and accurate listing data in the palm of your hand. The app is available free in the App Store and Google Play Store. For local listings you can trust, start with REIN.com.