Tackling a big renovation can be hard, especially if you don’t know what to expect. However, larger makeovers can definitely be worth the time and money, especially if you want to increase your resale value. Not sure which improvements are worth it? Before you pick up that hammer, check out our list of bigger budget projects to see which ones will pay for themselves!
Updating Your Kitchen
Let’s face it—kitchens sell homes. If your space feels stuck in the early aughts, now is the time to give it a complete facelift. In fact, sellers can expect to see almost a 93% return on investment after tackling a total kitchen remodel. However, the key to making the most off of your improvement is considering the cost of materials versus actual value you’re getting back.
Most buyers are looking for pretty standard upgrades, such as granite countertops, plenty of light, and newer appliances. Unless you plan on staying in your home for a long time, big splurges (like custom cabinets or gourmet appliances) might not be the best way to maximize the value of your kitchen.
Improving Your Bathroom
As the years go on, buyers are expecting more and more from their bathrooms. Nowadays, it’s not just about toilets and showers! In an ideal world, your space will have a stunning vanity, all new tile, and sparkling finishes. And if you have an ensuite, a huge closet and a soaking tub with have buyers’ jaws on the floor.
If all of this sounds overwhelming, you might want to narrow your bathroom renovation down to a few key upgrades. You can promote function by adding extra storage in the form of a vanity or linen closet. For a dash of luxury, consider installing some designer light fixtures or putting in a separate shower and tub. When in doubt, adding some fresh paint and tile can always do the trick, too!
Sprucing Up Your Curb Appeal
When it comes wowing buyers, it’s crucial to start off with a great first impression. The exterior of your home is the first thing people see when they drive up, so you’ll want to get it up to snuff with the rest of your place. Even if you aren’t planning on selling any time soon, boosting your curb appeal will give you the prettiest house on the block!
Get ready for flowers, bushes, and shrubs—adding some landscaping is the easiest way to make your exterior pop. If you really want to go the extra mile, consider replacing your walkway, painting your front porch, or even resodding your lawn. All of these little touches can turn into a big project, but they really do pay for themselves.
Adding a Pool
If you own a home in Florida, you might want to consider adding a pool if you don’t already have one. In most other American cities, having a private swimming space won’t yield a return—but our market is a bit different.
Over half of all newly sold Miami homes have pools, and that number jumps to nearly 90% when you reach a luxury price range. Although having your own spot to swim does cost a pretty penny, South Florida is one of the only places in the country where building one is totally worth it.
Getting Ready to Tackle Some Bigger Budget Projects?
If you’re getting ready to renovate your home before you list, we’re here to help you out! As South Florida real estate experts, we know which bigger budget projects are worth it…and which ones you might want to avoid. Looking for more seller resources? Just drop us a line—we’re always here to answer your questions!