Renovations That Put Money In Your Pocket When You Sell Your Montecito Home
Whether you're thinking of selling your Montecito home and are looking to get the most bang for your buck or you need to make a few improvements around the house on a budget, this blog is for you. If you're anything like us, you've thought about which home renovations are actually worth it for your wallet and which can be passed on. We're sharing the top 4 home improvement projects that aren't worth it and highlighting the projects that won't break the bank (or your back).
Wall-to-Wall Carpet Will NOT Help You Earn More Money
Wall-to-wall carpeting is expensive and hard to maintain or clean, so it might not be a wise investment. Instead, people are using rugs to create that warmth without the commitment to full carpeting. That allows future homeowners to make their own decisions on flooring instead of needing to take up the carpeting.
If you're going to add carpet, we'd recommend sticking to your bedrooms but not expanding it to your living or great rooms.
Built-In Electronics or Fixtures Are Not A Great Investment
Specialty projects like home theaters or built-in aquariums are usually not a great investment for resale value because they are hobby-driven. If you're thinking about adding something like this in your home, make sure that you'll be staying put for a while to get the value from that project.
Instead, invest this money in something more universal, like a kitchen upgrade if you're planning to sell your home.
Don't Limit Your Living Space If You Want To Sell For Top Dollar
Taking a bedroom and converting it into a closet or home gym may seem like a great idea now, but, in the end, these projects are usually not worth it when it comes to resale because they're removing the home's livable space. What happens if a potential buyer doesn't need the extra closet space but could really use another bedroom?
Completely Renovating Your Kitchen Is Overkill
Completely renovating your kitchen may not actually move the needle for your home's value as much as you'd expect. If you're thinking about selling your home soon, we'd recommend focusing on the smaller things in your kitchen, like refacing your cabinets and updating some fixtures, instead of spending thousands on a new kitchen.
Home Renovations That DO Pay Off & Won't Break The Bank
The following are the home improvements you can even do yourself that will help you net more when you sell your Montecito home in 2022.
Replacing Your Garage & Entry Doors
Replacing your garage door costs on average about $1,500. but when you list your home for sale, it adds value to your property. Replacing an old and worn-out garage door will positively impact curb appeal, which in turn leads to higher property values. On average, you'll recoup 97.5% of your investment according to Remodeling Magazine.
A new front door can improve your home's curb appeal and is one way to bring more light into a dark entryway. Replacing just the exterior door on an average-sized house will cost $1,200, but the long term value you receive makes it worth the cost.
Painting Rooms In A Neutral Color
Painting the walls a neutral color costs on average about $2-$6 per square foot. This can depend on how many walls you're repainting and whether you are the one who is painting them. Painting the walls in a neutral shade will make the home more inviting and give it a fresh feel. This makes it easier for potential buyers to see themselves and avoids them needing to paint any outdated green walls.
Refacing Your Cabinets Instead Of A Complete Kitchen Remodel
Replacing cabinets in your kitchen is an affordable way to update your home's look with minimal time or money spent on renovations. Refacing your cabinet doors starts on average between $1,000 and $3,000 depending on style choices. This may seem like a lot, but if you consider that this price includes all doorknobs, hinges, handles, drawer slides, etc., you realize what good value these doors are compared to other projects that cost upwards of $5,000 - $10,000+. The great thing about replacing just the cabinet door panels is that they won't impact outside the space itself, so there isn't much clean-up or mess left over after.
Updating Bathroom Fixtures
Updating the finishes in your bathroom will also give you a good return for money invested, price-wise and value-wise. This project usually costs between $1,000 and $5,000 depending on what fixtures are included, but on average, you can recoup about 66% of the remodel cost after you sell your home. Installing new hardware such as faucets or replacing old toilets with newer models is also a home improvement that's not too expensive and adds equity without breaking the bank.