If you are planning on listing your home there are a few upgrades that can not only make your home more attractive to buyers, but also earn you top dollar. These are some of the most important upgrades and renovations to consider before putting your home on the market.
#1 – Minor Bathroom Remodel
Average return at resale: 102 percent
The average cost of replacing a bathtub, changing the tile surround, floor, toilet, sink, vanity and fixtures is approximately $10,500. Sellers earn back an average of $10,700 at resale. By choosing a minor renovation in favor of gutting an old bathroom, your time investment won’t outweigh the benefits.
#2 – Landscaping
Average return at resale: 100 percent
Whether you opt for big changes like sodding a yard and planting mature plants and trees or you want to go small with new flowers and trimming existing plants, you will see a good exchange for your investment.
#3 – Minor Kitchen Remodel
Average return at resale: 98.5 percent
Buyers in the LA market expect an updated kitchen. On average a minor kitchen remodel costs between $14,000 and $15,000. A minor kitchen renovation would include changes to things like cabinets and drawers, a new wall oven, cooktop, sink and fixtures, laminate countertops and resilient flooring.
#4 – Major Bathroom Remodel
Average return at resale: 93.2 percent
Perhaps a minor bathroom remodel isn’t enough to bring in high price bidders. You may then opt for a major bathroom remodel that includes expanding the size of a smaller bathroom, relocating and replacing the bathtub and toilet and adding designer touches like sinks and faucets, a linen closet, lighting, a flooring.
#5 – Major Kitchen Remodel
Average return at resale: 91 percent
A major kitchen remodel is a much bigger endeavor, but one that might pay out big upon resale. Buyers of luxury homes expect a kitchen with wow factor. If your kitchen lacks that wow, a major remodel is a must before listing. In addition to the changes included in the minor upgrade, in a major kitchen reno you may adapt the structure and layout of your kitchen.
#6 – Basement Remodel
Average return at resale: 90.1 percent
Another place that luxury homebuyers expect to be impressed is in the basement. The days of unfinished basements that provide no livable space have long passed. Basements are an excellent place for a gym, office space, movie viewing room and much more.
#7 – Replacement Windows
Average return at resale: 89.6 percent
Outdated windows will not impress savvy buyers in the LA market. By replacing older windows you can expect to earn top dollar for your home.
#8 – Family Room Addition
Average return at resale: 83 percent
Family rooms can come in many forms. Sunrooms, dens and game rooms are a great way to make your home a buyers dream. Some experts explain that in the high cost LA market a family room addition could earn more than the national average of 83 percent.
#9 – Living Room Updates – Decor
Average return at resale: 66 percent
Although updating your living room will not lead to a huge jump in price, it is a necessity if your home needs updating. Things like new light switches, outlet covers, floor registers, molding, chair rail and accessories are a low cost way to improve your chances of earning top dollar.
#10 – Bedroom Updates
Average return at resale: 52 percent
It is important before listing to make sure that every bedroom in your house reflects the updated home you are listing. Updating paint colors, window coverings and floors will help make your home the most sought after on the block.
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(all data current as of 5/27/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.