Are you thinking of selling your Louisville home any time soon? Get ready to cash in! The Louisville, Kentucky, real estate market has seen a whopping 5.3% increase in per-square-foot price, and homes are selling for an amount close to their asking price.
However, Louisville’s real estate market is also known for its tendency to favor buyers. There are always more houses for sale than demand, which means buyers have plenty of options to choose from. If you’re planning to sell your home quicker and want to get the best ROI, you need to make it the hottest and most in-demand property in the local listings.
Although making grand-scale renovations may not be a worthwhile investment, some strategic and thoughtful upgrades can increase your home’s value and help you get the best price for your property. So cross out those cost-intensive all-out renovations and consider the following smart upgrades to boost your home’s net worth and make it appealing to potential buyers:
1. Replace Outdated or Worn-Out Windows
Windows are the eyes of the house, connecting your indoors to the stunning outdoors of Louisville. Apart from their basic functionality, windows make up a crucial element of your home’s curb appeal as well as its energy efficiency. Outdated frames, visible drafts, and a shabby look of your windows are among the biggest turn-offs for a potential buyer. If your windows are in somewhat the same condition, it’s best to replace them before listing your house for sale.
The good news is that updating your windows not only adds more value to your home but also helps you cut down your energy bills by 20 to 30 percent annually. What’s even more encouraging is that Louisville window replacement cost for vinyl frames is relatively inexpensive compared to other materials. Vinyl windows not only provide excellent energy efficiency and durability but also yield a higher return on investment.
However, window replacement is something that should be done with the highest level of expertise and extreme care. This is why you should hire a renowned window replacement company, which has years of experience in installing a variety of window styles.
2. Upgrade or Repair Home Appliances
The rising inflation, skyrocketing bills, and lingering energy crisis have compelled homeowners and buyers to look for energy-efficient alternatives. This is especially true for cities like Lousiville, where residents have to continuously face harsh weather conditions.
In Lousiville’s real estate market, energy efficiency has become a major selling point these days, and properties with energy-efficient upgrades are in higher demand. If your home’s appliances are relatively power-hungry, it’s time to make an impact with energy-efficient appliances. Replace high-voltage lights with low-energy LED bulbs and solar-powered fittings. If your HVAC has lived up to its useful life, replace it with a smart WiFi-enabled system. Some older versions of HVACs can also be upgraded with smart thermostats, which allow you to program and automatically set your preferred temperatures at a given time.
However, upgrading your appliances doesn’t have to be a hefty investment. Some minor repairs and servicing can boost your appliances’ performance and input-output ratio. This way, you can make your home more energy-efficient in a budget-friendly way and add more bucks to its net worth.
3. Modernize the Kitchen
The kitchen is rightly called the heart of the home since most of the activities are carried out within this part. It’s also one of the biggest selling points of a house. In fact, some potential buyers would like to see the kitchen before they visit any other area of your home. Having said that, if your kitchen has a worn-out look, cracked or deteriorated surfaces, and limited space, it can quickly become a deal-breaker.
Most all-out kitchen renovations need a heavy budget. However, if you make some targeted, smart upgrades, your kitchen can look as good as new. For this purpose, we recommend taking a closer look at all the elements of your kitchen and preferring minor upgrades like refacing kitchen cabinets, refinishing wooden floors, and polishing countertops. Stainless steel appliances and granite countertops are trendy choices that can instantly add a high-end and luxurious touch to any ordinary and lackluster kitchen.
Change cabinet hardware like door handles, cabinet hinges, locks, rail systems, and drawer slides or glides.
4. Increase Square Footage
Expanding your home’s usable space and the total square footage is a smart upgrade that increases your home’s value by a whopping 30%. If you have an unfinished basement, consider finishing it and converting it into a functional space. Research real estate market trends and design the basement, keeping the buyer’s perspective in mind. You can convert the unused space into a storage area, a home office, a private movie theatre, or a kids’ activity room.
Similarly, you can convert or upgrade your home’s attic into a bedroom, a toy room, or a personal library with a separate reading nook. If you have extra space outside your living room, you can expand your living space and create a visual extension with large windows.
5. Enhance Your Curb Appeal
The exterior of your home is like a welcome mat for potential buyers. A well-maintained and attractive exterior can pique buyers’ curiosity and make them eager to see what’s waiting inside. More so, boosting your home’s curb appeal can quickly translate into higher sale prices and handsome ROIs. You wouldn’t believe it, but simple exterior upgrades like a new or repaired garage door, roof repairs, lawn care, and siding repairs have a 100% return on investment.
Thoroughly assess your home’s exterior and list down all the upgrades and repairs that you deem necessary. Check your home’s roof and siding and repair or replace areas that are worn out or succumbed to extreme weather conditions in Louisville. Before listing your home, make sure the lawn is properly maintained, trees and shrubs are pruned, and the patio is attractively staged. Give your home’s exterior a new color bath and see how these simple upgrades can make your home look extraordinary at first glance.
The above upgrades are just a sneak peek into the array of smart home renovation options you can consider. Be sure to tailor your home upgrades to match your property’s architectural style, as well as the design preferences of most potential buyers in your area. Above all, remember to depersonalize your home before putting it up for sale. We hope those mentioned above simple and smart upgrades will help you boost your property’s value and seal a profitable deal.