It's that time of year! It's when many top lists for 2016 come out and the best time to prepare your home for sale if you intend to do so in the near future.
It may feel wrong to invest in a home you are leaving but it will help sell faster in a slow market. Mortgage rates are low and borrowing more on a mortgage makes more sense than taking money out of the monthly cash flow to fund updates. It may also sell for more when your home appeals to the majority of buyers looking for a move in ready home and are willing to pay for it.
According to the Remodeling 2016 Cost vs. Value Report, the following list are five of the best investment choices for home improvements.
- Attic insulation has a 143.8% return on investment. Energy efficiency is top priority for many potential buyers, even more-so in colder climates. Attic insulation goes a long way in reducing heating costs.
- Entry door installation (steel) (94.8%): There's no better way to make a great first impression than to be greeted by one of many new door designs that available today. The all important first impression of the exterior will encourage buyers to view positive attributes of your home whereas a bad first impression will influence them to view negative attributes.The front door provides great curb appeal as well as energy efficiency.
- Garage door replacement. (91.6%) Similarly as the front entry door, there are many garage door designs that will add fabulous curb appeal in addition to energy efficiency.
- Manufactured stone veneer. (86.8%) Adding to fabulous curb appeal, this is a trend item that will strongly influence buyers. Choose from the grey colour palette. Grey tones are the new neutrals.
- Minor kitchen remodel. (83.2%) It's still true that kitchens help sell homes and it doesn't have to cost a lot of money. Simple updates such as changing hardware, light fixtures and faucets can go a long way in emotional appeal. Kitchen organization will also strongly influence buyers.
This list was taken from the New England report because the location has many attributes in common with where I live.
I hope this helps you.