If you are looking to update your home before you sell, there are a few home renovations you should be aware of that give you the biggest return on investment. So, to help you get started, your local Atlanta mortgage lender with Milend, Inc. has listed the top home renovations that pay off.
#1: Kitchen and Bathrooms
Regardless if you are selling your home in a prime location, updating your kitchen and bathrooms can appeal to anyone. Most home buyers want that new modern look for their kitchen and bathroom so spending the money and time to update these areas can almost guarantee a 100% return on investment. When buyers view a home, they can immediately tell if a lot of money went into remodeling the kitchen or the bathrooms so, update these areas to appeal to more people.
Now, updating a kitchen or bathroom might be your biggest renovation cost, so if you are looking for ways to afford these projects, you may want to consider refinancing your Atlanta mortgage. You can tap into your home equity through a mortgage refinance or a second mortgage and use this amount to help update your home. Contact your local lender for more information.
#2: Curb Appeal
How the outside of your house looks is the first impression it will make on a buyer. Therefore, it is worth the expense to update this area of your house. If the seller’s come up to your property and are immediately turned off by the exterior appearance, they will most likely not even bother coming inside. This means it would be helpful to add some fresh flowers and new mulch to give your yard a cleaner, newer feel. It would also be beneficial to touch up any chipped paint on the outside of your home.
#3: Home Expansion
If you have an older home where the rooms are smaller and the hallways are narrow, you may want to consider expanding your house. Adding some extra rooms or enlarging the current ones can help appeal to more seller’s. If the rooms are too small, home buyers may feel too claustrophobic and lose interest in your home.
Also, according to this Home Improvement Show, you could earn an increase of at least 30% on your home’s asking price by every 1,000 square feet you add, which means it could financially be in your best interest to add some extra space.
For more information on top home renovations that pay off or to get started on your home loan application, please contact your local mortgage lender in Atlanta, Milend, Inc., at 855-645-3631.