If you plan to sell your property within a few months or years, there are several ways to improve its value and turn your Baltimore home into a top-dollar investment.
How much Should you Spend for Maximum Profit?
There is no exact remodeling price guide for maximum profit. You have to consider different factors like where your property is situated, what repairs or updates are needed, and how you’d like to classify your home (low-end, mid-end, or high-end).
To save on the cost, start with the areas in your home that need to be repaired. Luckily, there are different forms of financial assistance and grants available to homeowners making select updates to their properties. There are good resources on how to find repair assistance with low income at LoanStart blog.
It Starts with a Winner Floor Plan
A bigger house does not always mean a better house. More and more people are appreciating the tiny living concept. And if your house falls into the “small” category, it’s perfectly okay. The key is to focus on creating a functional space, such as an open concept floor plan with flexible living space.
However, if you have a bigger house, you can afford a closed floor plan. It’s not that the open concept thing is over. But there’s a shift in the home design industry today and the classic closed floor plan is taking the center stage.
Don’t Forget your Kitchen
If you have a tight budget and can’t afford to renovate your entire home, you might want to focus your attention on updating your kitchen. Doing so gives the most value increase in your home. We’ve seen a lot of changes in the home interior design trend over the years. But the kitchen remains to be a focal point of any home. For as little as $5,000, you can install a new countertop and flooring, apply a fresh coat of paint, update your kitchen appliances, and add some extra furnishings and decor. If you want a contemporary kitchen design, stainless steel appliances make a good investment.
Update your Bathroom too
When it comes to bathrooms, a complete renovation isn’t always required. You can spruce up your bathroom by adding inexpensive elements like a new vanity, lighting fixtures, and some decor.
Keep it ‘Smart’ and Secure
To make your home even more valuable, it’s worth investing in smart technology. Making smart enhancements like security cameras, fire or smoke detectors, carbon detectors, automatic lighting system, and keypad door locks will greatly boost the appeal and value of your property without the need for costly, messy renovation.
Resurface Your Cabinets and Update your Furniture
Increasing your home’s value doesn’t always involve knocking down the walls or tearing the floors. Sometimes, simply updating your furniture set and resurfacing your cabinets are enough. Before making a purchase, conduct research to know about the latest home decorating trends and find the most affordable suppliers of home furniture and furnishings.
Improve your Outdoors
Just as you want to update your home interiors, you also want to update your outdoor space. Build a deck, a patio or a shed, beautify your yard, or install a fence. Your outdoor space is an extension of your home. Sprucing it up can augment the value of your property.
Wrapping it Up
There are many ways to improve the value of your home and increase your potential profit when you sell it, from creating a floor plan that makes the space more livable to updating your kitchen and bathroom, investing in smart technology, replacing your furniture, and enhancing your outdoor space. Note that you don’t have to break the bank to get the necessary improvement of your home.