3-minute readHome sales hit 3,305 closings for August 2023, according to data provided by Greater Nashville REALTORS®. This figure is down 7 percent from the 3,566 closings reported for the
Six Key Areas to Renovate Your Home and Increase Your Home Value!
Dated: September 1 2023
No matter what your renovation budget is, there is always room for improvement before placing a house on the market. From simple upgrades to large projects, wisely investing in home improvements has the potential to largely increase your home value.
RE/MAX Homes and Estates, Lipman Group owner and Broker, Larry Lipman, shares his expertise on the top six areas to consider updating that will inevitably increase your home value
And, to note, RE/MAX Lipman can make upgrades for your home to get it ready to sell with no upfront money or stress on your side. Find out about the Lipman Elevate Concierge program here.
To Increase Your Home Value: Renovate Your Kitchen
If you’re ready for a large renovation project that will help your home sell for more, start with the kitchen. “The king of renovations to increase the value of your home is the kitchen,” says Larry. “This is usually a higher ticket item as well, so you have to be wise in your investment.”
Kitchen remodels can typically cost thousands of dollars, but the return on this investment is high. If you’re trying to stay within a smaller renovation budget, consider upgrading one or two appliances or reconsider your cabinet colors and hardware. The kitchen is often thought of as the heart of the home, where you cook, entertain, and gather, so don’t overlook this area as you prepare to sell.
To Increase Your Home Value: Renovate Your Primary Bedroom’s Bathroom
The second area to consider updating before a move, according to Larry, is the primary bedroom’s bathroom. Updating simple features like hardware or paint in the primary bedroom’s bathroom can quickly elevate this important space. If the bathroom needs a more intense renovation, consider creating more room for storage by removing unnecessary walls, revamping the design by updating old tiles, and elevating the space by upgrading the shower and tub. These renovations, no matter how small, can seriously impact a buyer’s decision on your home.
To Increase Your Home Value: Update Your Paint Colors
Paint color is a simple way to update your home without breaking the bank. Find a neutral that complements your floors and hire a professional painter to do the job. “Paint color is really important because it can severely date, or on the contrary, freshen up a house,” says Larry. “It’s also not that expensive of an investment.” For a more in-depth renovation, consider painting or upgrading the exterior of your home as well.
To Increase Your Home Value: Get Rid of Wall to Wall Carpet
Have a room or two with carpet that needs to be updated? Larry suggests you try another route. “Carpet has become a turn-off for a lot of buyers,” says Larry. “Rather than replace old or rippled carpet with new carpet, opt for a hard surface.” Replacing carpet with hard, neutral surfaces in a home can be a fairly simple way to increase the value of your home without having to undergo a total renovation.
To Increase Your Home Value: Update Your Light Fixtures
One of the most affordable ways to update your home is through light fixtures. “Light fixtures can make or break a house,” says Larry. “It doesn’t have to be an expensive project to pick out light fixtures that complement the house.” Opt for simple fixtures that don’t overwhelm your space. Light fixtures are the perfect finishing touch to updating your home.
To Increase Your Home Value: Don’t Overlook Curb Appeal
If you want to get buyers interested in your home, the first thing to consider is how the house presents the moment potential buyers see it. “Curb appeal is very important to buyers,” says Larry. “No matter what the inside of a house looks like, if they aren’t motivated to walk through the front door, the inside doesn’t really matter anymore.” Freshen up the outside of the home to ensure buyers are interested the second they see the house from the street. This could be hiring a professional landscaper, painting, or pressure washing – the list goes on and on. “Also, make sure the windows are in decent condition, if not new,” says Larry. Curb appeal will instantly increase the value of your home!
Renovations, ranging from large projects to simple upgrades, can grow your home’s value by thousands of dollars. Focusing on the right areas of your home to renovate before selling is vital to ensuring you receive top dollar for your house.
Ready to put your home on the market? We’d love to hear from you. You can contact us here or call us at (615) 463-3333. We look forward to speaking with you!
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