Upgrade Your Home and Make Money

Preparing to sell your home can be an exciting time, but it can also be frustrating if your house sets on the market for too long. To make sure your home is ready to put up for sale, and sells for the asking price, you can make some value-increasing renovations. Choosing your home remodeling projects carefully can help you make money on your home’s sale.

Creating Value

There are some rooms that potential buyers expect to see with modern features and designs. This includes bathrooms, decks and closets. Although some remodeling projects can become costly, most of the costs can be recouped in the sale. For example, a $3,000 expansion on a master bedroom closet can easily add that value or more to the overall sales price of the house.

Common Renovations

The list of common renovations that recover their complete or most of their costs is long. However, the most common projects that recover nearly all of the home remodeling costs are:

  • Bathrooms
  • Kitchens
  • Windows
  • Garages
  • Closets
  • Decks

You may question if the upgrades will add value to your home, but researchers claim that remodeling does add appeal to homes. Additionally, upgraded homes sell quickly.

Expected Recovery

Many real estate agents claim that most of these projects will allow you to recoup over 90 percent of your costs. Surprisingly, the small changes will often raise the total sales price of your home to pay for the remodeling expenses – and more. Although a $10,000 bathroom upgrade may only recover $8,500, the total sales price of the house may raise $15,000.

Home remodeling has been a secret used by home flippers for decades, but it was slow to catch on among sellers. Now that homeowners have discovered to this home-selling trick, they can use the same secrets to add value to their houses. Yes, you can upgrade your home to make money.