The best time to do major upgrades is rarely right before you sell.  While your home’s value will increase and likely help it to sell fast, you will rarely recoup 100% of the cost.  Consider doing improvements at least a few years before you think you’ll be ready to move.  This way, your choices will still be trendy and new but you will be able to enjoy the improvements.  Additionally, it gives your home time to potentially appreciate further so you do recoup more of your investment.  These are the 5 things you should take into consideration:

  1. How do I make it more attractive?
  2. What will make it lower maintenance?
  3. What can make it more efficient?
  4. How can we make it bigger? (Or at least appear bigger)
  5. How can we make it smarter?

Adding beauty is one of the easiest ways to increase value.  This includes exterior curb appeal as well as interior design.  It doesn’t have to cost a lot- fresh paint and getting organized can go a long way.  However, if you are interested in a more substantial transformation, an hour or two with a pro can be a good investment.  An interior designer will charge $100-$150/ hr (on average) and can give you good advice on changing furniture layout, adding accent pieces, improving traffic flow, and using inspiration photos to create a more cohesive design.

Buyers like a house that will be low maintenance in the coming future.  That means upgrading some of the big ticket items if they are nearing the end of their life span.  This can including roofing, a/c or furnace replacement, water heaters, etc.  Lower maintenance can also include higher efficiency.  Besides new units, adding insulation in the attic or installing new windows and doors can improve heating and cooling costs.  Upgrading lighting and appliances can cut down on energy costs as can converting some or all of your energy needs to solar panels.

The easiest way to make your home bigger is to add an addition.  This is becoming a more popular choice these days.  If you plan to be in the home for several more years, an addition can make the home more functional for your family.  However, if an addition is not in your budget, knocking down some walls or repurposing under-utilized space are easy ways to make your current space feel bigger.

Lastly, more people are jumping on the smart home bandwagon.  Let’s face it, it does make life more convenient.  The most popular upgrades don’t even cost that much to do.  The nest thermostat lets you control the temperature from your phone or with voice commands through Alexa or google home.  The ring doorbell lets you see who is approaching your door and even allows you to communicate with them, no matter where you are.  Additional technology upgrades can include fire alarms, cameras, smart locks, and smart lighting.

Despite all that is going on in the world, home values have been holding steady.  If you are ready to sell now, some of these lower budget changes can definitely help your home sell quickly.  If you plan to wait and see what happens with the economy in the next year or two, now is a good time to look into making some of those bigger, long term renovations. You’ll have time to enjoy the improvements and look forward to a higher appraisal when it does come time to sell.