If I could name one industry that has truly exploded because of the pandemic, it has been real estate. Homes are going into contract only hours after being on the market; they're selling for tens of thousands of dollars above asking price; and the amount of inventory is at a record low. All Realtors will tell you if you're in the market to sell your home, do it now! But to get the most return on your investment there are some upgrades you can make that will help you sell your home quickly and above asking price.
1. Landscaping. It truly is all about the curb appeal. According to the American Nursery Landscape Association, the average homeowner spends about $3,500 on landscaping. If you're looking to add value to your home, take the time to spruce up the outside. Consider rocking your flower beds instead of mulch and adding pavers to give your outdoors a unique look. You can also plant perennials so that the next homeowners don't have to worry about planting in the spring.
2. Minor kitchen remodel. The kitchen is one of the most expensive rooms in a home. And we aren't telling you to spend thousands of dollars on a complete gut renovation. Give your kitchen a boost by refacing your cabinets, getting new countertops, and adding detailed fixtures like handles or knobs to your cabinets. These upgrades will add value to your home without burning a hole in your pocket.
3. Freshen up the walls and floors. Nothing turns off a potential buyer more than peeling paint and old carpet and flooring. Give your walls a fresh coat of paint and consider putting in new carpet or vinyl plank flooring. Vinyl plank floors gives your home that hardwood look without the hardwood price. Plus, most types are waterproof which is a plus!
4. Add a deck, patio, or porch. Add some bang to your backyard with a deck, patio, or porch. Consider using composite decking that will definitely add ROI to your home when you decide to sell. You can also incorporate aesthetic appeal with outdoor lighting and built-in planters boxes.
If you're thinking about upgrading the value of your home, Telhio Credit Union has the home improvement loan you need to get the job done. Find out more at www.telhio.org