Since the Recession began, homeowners have consistently been told that making upgrades to their home was not worth the money. Unlike in the previous 10 years, adding high-end features such as a theater room simply would not create the return on investment that sellers had formerly enjoyed. Feel free to fix up, renovate, and add on as you wish, homeowners were advised, but only do it if you’re planning to stay in the home long enough to enjoy it and not just to get your money back.
But these days, it’s a buyer’s market. And in reality, there are two rooms that will still help sellers get a leg up on the competition and add serious value to a home: the kitchen and Master bathroom. Whether you need a complete redo or simply want to add subtle touches like a custom area rug, oriental area rugs or large area rugs here are a few solid words of advice about where to spend money and when to save when it comes to these two serious upgrades.
The Kitchen
- Take a hard look at your kitchen and ask yourself, “If I had it to do over again, would I buy this kitchen?” If the answer is no than potential buyers aren’t going to want to buy it either. Create a plan that will not only work for your family but also make the room attractive to buyers.
- Keep in mind that today’s kitchens are about socializing. It’s truly the heart of the home and during a party everyone always ends up in the kitchen. Removing a wall or two to open the kitchen into a breakfast nook or living room is always a solid option. If that’s not possible, install an island instead that can also double as a table.
- Spend where you can and save where you can. The cabinets and counter tops will always be your biggest expense in a new kitchen. Fortunately, you can control your expenses here. If your current cabinets are still in good shape, it might be possible just to refinish or paint them. You can also purchase unfinished cabinetry and paint them yourself. When it comes to counter tops, you can choose from a variety of options that will suit your budget and the durability that you’re looking for.
- Finally, don’t be afraid to include small details that will add visual interest and invite attention. Small touches like under-cabinet lighting add a sense of warm and functionality to the room. A funky pendant light suspended over the island or breakfast bar lends a classy and sophisticated look. And herring boned patterned tiles – which you can pick up at the hardware store for as little as 20 cents! – create a beautiful back splash that won’t break the bank.
The Master Bathroom
- Having a Master bath might seem like a luxury, but it’s one that home buyers have come to expect in recent years. Redbook recently quoted realtor and house flipper Liz Haynsworth as saying, “You can’t go too luxe in here when you’re trying to wow people in this market. We like to put marble on the counter tops and in the shower, even though it can get pricey, because it pays off every time.”
- If you don’t have the space to do a large soaking tub or a jetted tub and a separate shower, skip one of them. A beautiful shower stall with swanky touches like a pebble floor or glass doors will have a stronger wow factor than trying to cram too much bathroom into too small of a space.
- Mix and match finishes to create a designer look: if you choose a satin nickel finish for your fixtures, mix it up with brass light fixtures to keep the room from feeling too matchy. You can then pull all of those tones together in a glass tile back splash or in the color of your cabinets.
- If a complete bathroom redo isn’t in your budget, new knobs on the vanity drawers or new fixtures in the tub are a nice compromise. It’s a fix that anyone can do without help and it will instantly update the look of your bath.