Home Improvements for Your Luxury Home
Are you interested in getting more bang for your buck when selling your luxury home? Let’s look at some additions and improvements that have been known to be profitable in luxury homes.
Selling Your Luxury Home
When it comes time to put your luxury home on the market, you want to make sure that you receive the biggest “bang for your buck.” You need to make sure that any changes you make to your home have the best chance of being profitable. Let’s look at a couple of additions that have been proven to be the most profitable in luxury homes.
Adding an Addition to Your Luxury Home
Many modern homes today have open floor plans, and therefore they may lack a true family room. If this is the case with your home, or if you have a family room that can be spruced up a bit, adding an addition to that space is a great way to get a nice return on your investment. You will increase the resale value of your home when adding additional square footage.
Is your luxury home a single story ranch? You may want to consider adding another floor. To be competitive in some markets, a two-story home may be a necessity. This could include having the aforementioned family room on your first floor, then adding a master suite on the second floor.
For more living space, you may want to add a deck or a patio to the home. Luxury buyers are very interested in outdoor spaces, and if you add the right deck addition, your home could become a beautiful hub for entertaining. With a high return on investment (over seventy percent), it can be a profitable addition that will attract the attention of buyers that like to host events.
Remodeling Your Luxury Home
The next profitable change that you can make is a minor kitchen remodel. This may be the best one of all, and it’s a remodel that doesn’t have to be elaborate as you may think. Different than a full kitchen remodel, a minor remodel involves smaller things such as replacing appliances, more modern countertops with natural stone or granite. This can result in great a resale return.
If needed, getting a new front door is also very effective. Remember it’s one of the first things your buyers will see when they walk into your home. This replacement won’t take very long. It can be installed in a few hours.
No home improvement and resale value guide would be complete without the mentioning updating your bathroom. You may not see the significant return on investment like with some of the other upgrades, but a modernized bathroom will definitely appeal to many buyers.
For more information on selling your Luxury Home, contact me!