What Home Renovations Should You Tackle in a Slower Economy?

It is always a good time to renovate! Remember, our economy is regularly shifting. Even if your home value dipped last year, this is just a season. There’s a 100% guarantee it will increase again in the future. Sellers, you will need to spruce up your home if you want to sell for higher and faster. So why not take this year to invest with those future gains in mind?

Choose Projects That Add Value Without Breaking the Bank

You can hold off on the kitchen and bathrooms as renovations come with a hefty price tag. Instead, opt for small projects, like replacing your garage door. Remodeling Magazine’s 2022 Cost vs. Value Report ranked this project as the best return on investment (an average national cost of just over $4,000, homeowners can reap a 93% ROI).

Read: Remodeling Your Home? Read This First

Minor Upgrades Can Have a Big Appeal

Consider doing a partial upgrade: installing a kitchen island or adding a new backsplash can quickly add value and refresh your kitchen. Sellers, restore your space to neutral to attract home buyers with “a blank slate” that makes it easy for them to visualize as their own. Or, if you plan to move in the next couple of years, make a compromise between what you love style-wise and what will give you the most significant ROI:

• Repaint the front door or replace the porch light.
• Repaint walls in a creamy white or warm neutral.
• Replace outdated wall mirrors.
• Paint dark kitchen cabinets a lighter color.
• Remove all carpeting and refinish floors.
• Update doorknobs and cabinet pulls.
• Replace bathroom fixtures.
• Fix or update lighting.
• Wash all windows.
• Regrout bathrooms and update old vanities.

Read: Home Architecture Trends in Colorado

Work With Your RE/MAX Alliance Agent to Learn What Buyers Want

Your RE/MAX Alliance Agent understands buyers’ mindsets of buyers and will be happy to provide you with a list of must-dos, even if you are years from listing. With their finger on the pulse of your neighborhood, they know what’s working for buyers in your area. Sometimes, simply decluttering, adding a fresh coat of paint, and cleaning windows are all you need to be ready to sell this spring.

Source: U.S. News & World Report