Home remodeling has become more popular than ever to attract buyers, thanks to an improving economy, strong job growth, higher disposable income, more home sales, low interest rates, and a more competitive housing market. Home owners looking to sell their home this year may want to complete a few upgrades and renovations that will help make their home get noticed among the competition.
The following are the remodeling trends recommended by both PJ & Company Staging and Interior Decorating as well as Remodeling Magazine’s Cost vs. Value report:
1. Curb appeal. According to Remodeling Magazine's report, the key improvements with the highest ROI include the front door and garage door replacements, manufactured stone veneer front steps or foundations, vinyl siding, and replacing windows. Each of these upgrades will boost both buyer interest as well as the value of a home.
2. Deck addition. At a fraction of the price of an indoor addition, a new deck both enhances the landscaping of a yard as well as offers additional living space for al fresco dining, relaxing and entertaining. Most people use their decks for at least six months out of the year so it’s a worthwhile investment.
3. Kitchen remodel. Without having to completely gut the kitchen, replacing cabinet doors and drawer fronts, new appliances, countertops and flooring continues to rank as one of the top renovations for the last 10 years.
4. Bathroom remodel. Buyers are looking for a bathroom that doesn’t feel outdated. Even the smallest bathrooms can look more attractive with the right finishing touches. The key features that will sell a bathroom are updated vanities, wall color, tile, sink, faucets, toilet, and lighting fixtures.
5. Reinventing an existing room. Buyers and home owners want as much space as they can get. Remodeling an attic into a master or guest bedroom or converting a basement into a playroom, home theater, or exercise room are popular and profitable ways to add usable space to an older home as opposed to the bigger expense of an addition.
6. Painting and removing outdated wallpaper. Finally, if you don’t have time or money to invest in a remodel, one of the simplest and most affordable solutions is to remove dated wallpaper and add a trendy wall color. Don’t go too bold, though. Painting walls a neutral color will also bring out the home’s best features. This simple update provides a boost with instant universal appeal to buyers who want to envision living in the space.