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Whether you're thinking about or planning to sell your home in 2023, you want to maximize your home's selling potential. Utah real estate experts of The Stern Team explains that because your home is a valuable asset, it's wise to consider investing in remodeling projects that will boost your home's value — but that doesn't mean you have to spend a lot of money,
"Smart sellers will weigh the cost of the proposed improvements against the home's market value after the repairs or upgrades are completed," Elizabeth Weintraub writes for The Balance. "Before you decide to lift the roof and install skylights in the master suite, realize that kitchens and baths carry the highest return."
Aside from kitchens and bathrooms, something as simple as adding a fresh coat of paint or installing a steel entry door are small, strategic updates that will give you the biggest return on investment. Making these minor changes now could save you thousands of dollars when it's time to put your home on the market.
A real estate expert can help you determine which improvements your home needs most. In the meantime, here are six home updates likely to provide the best value when selling your home in 2023.
Add a fresh coat of paint
A fresh coat of paint is one of the easiest and least expensive ways to make a big impact on potential buyers. Not only does it give your space an updated look and feel, but it also helps with the general upkeep and maintenance of your home. Plus, it's relatively inexpensive compared to other remodeling projects. Just be cautious about the hues you choose. A recent Zillow survey found that light, neutral colors are best for your home's interior.
Install a new, modern entry door
Installing a new entry door is another project that adds both aesthetic and practical value to your home. If you decide to go with a steel door, you'll get durability and protection from the elements as well as improved insulation for energy efficiency. It's sure to impress potential buyers who appreciate efficiency and security in their homes.
Do a minor bathroom or kitchen remodel
You don't have to completely tear out your bathroom or kitchen to increase their value. New countertops or cabinets can spruce up any kitchen or bathroom without breaking the bank. Upgrading fixtures and hardware such as faucets or cabinet handles will add an extra touch of sophistication while keeping costs manageable.
Remodel the basement
Basements often get overlooked when it comes to remodeling projects, but they can add extra living space that buyers love. Consider adding recessed lighting, built-in storage options and even finishing touches, such as wall paneling and flooring, for a more finished look. Not only will this make your basement more inviting, but it could also add value when it comes time to sell.
Update flooring
Replacing old carpet or worn-out tile with something newer can instantly update the look of any room in the house. Hardwood floors are always popular among potential buyers due to their timeless appeal, but there are plenty of other options such as luxury vinyl planks or tile flooring if you prefer something different.
Make your home smart
Smart Home technology has become increasingly popular over the years, so you can certainly take advantage of this trend. Installing voice assistants like Google Home or Amazon Alexa can add convenience for potential buyers while also providing them with peace of mind knowing they have access to smart locks and lights while away from home.
Enjoy smooth selling with The Stern Team
These six updates may seem small individually, but together, they add up. Whether you decide to install a steel entry door or upgrade all the fixtures in your house, taking these steps now will help ensure a smooth transition into selling your house at its best price point in 2023.
And here's more good news: With The Stern Team's "Ready to Sell" program, you have access to financing that makes it easy and affordable to spruce up your house — sometimes for free! When you're looking to increase the value of your home while maintaining a budget-friendly momentum, this is definitely one opportunity worth exploring.
A real estate professional at The Stern Team can offer invaluable insights into which changes are most likely to increase your property value and attract buyers. After all, no two homes are alike! With informed advice tailored to your circumstances, taking advantage of these opportunities could put more money back in your pocket when the selling time comes around.
So don't wait — start your journey by giving The Stern Team a call today at 801-405-3662.
