If you’re considering buying a new home within the next few months or even in the next few years, preparing your townhouse for its maximum return on investment is crucial. Before you put your home on the market, try a few of these tips to maximize your ROI.
Evaluate and research
When updating a townhouse, it’s also important to look into any HOA rules before making any upgrades to the interior or exterior of the home. The property could have strict rules regarding renovations, so if your townhouse is part of an HOA, ask which projects you’re allowed to tackle before you begin.
Study homes that are selling in your price point and look at photos — do they have upgraded appliances? A fresh coat of paint? A deck addition in the backyard? Note possible upgrades you can tackle before putting your home on the market and highlight the “musts” and the “maybes” before you get started. It’s also important to make a note of any repairs your townhome needs before the home hits the market. If doors are creaky and windows stick, people will notice during showings and be skeptical of the current condition of your home. Take the time to evaluate and research the market and make necessary repairs before listing your townhouse.
Hardware and lighting
Fresh paint and flooring
Revitalize the kitchen and bathroom
If your HOA will not allow major renovations, consider these tips for quick and easy upgrades without breaking the bank (or the rules):
- Upgrade the backsplash. Adding a luxurious, high-end backsplash to your kitchen really connects the space and draws the eye to subtle details. Backsplash tile ranges in price and is relatively easy to install.
- Update the appliances. Energy-efficient appliances are practically a necessity in today’s world, and more buyers are looking for these upgrades. Swap out your old appliances with something that will save your future homeowners money and reduce their footprint. Consider upgrading your current refrigerator (which takes up about 7% of monthly utility bills) and replace it with a Smart Refrigerator — the new standard for keeping your produce cold while adding value and a “cool factor” at the same time.
- Update the cabinets with a fresh coat of paint and modern hardware. Matte black pulls are trending, and gold/brass knobs are here to stay.
- Upgrade your countertops. One of the “wow factors” of any home, countertops are an excellent talking point (and selling point). If you have the budget, consider installing a quartz or marble countertop in white for maximum luxury and appeal.
Add smart technology
Besides new kitchen appliances, consider adding smart home technology to your entire home. Nest thermostats, home security systems, app-friendly washer and dryers, HVAC systems, and even microwaves can be synced to one app that controls the entire home directly through a cell phone. Home automation allows you to control lighting, HVAC, security, and even your laundry machines directly from your device — and you don’t even need to be home to use it! An excellent way to boost your home’s ROI, adding smart home technology prepares your home for the future and adds an exciting component to your home.
Finish the basement
- Add stone siding to the exterior of your home for an updated look.
- Switch out your windows with a new, energy-efficient brand.
- Change your entryway and garage doors — it’s an inexpensive way to make your home look brand-new and boost curb appeal.
- Invest in quality landscaping before your home hits the market. Landscaping is one of the first things potential buyers notice about a home, and you want to make a good impression. Landscaped homes are a good indicator that a home has been taken care of and helps to maximize your home’s ROI.
- Is there enough space to add a small front porch, a patio or outdoor living space in the back of your townhouse? Adding livable outdoor space also increases your home’s ROI and maximizes square footage, but make sure to evaluate your space and HOA laws before considering this option.
With years of experience in the real estate industry and a deep knowledge of luxury Westchester County real estate, The Riolo Team proudly offers a custom personal experience, no matter your situation. Whether you’re a buyer, seller, or landlord, your objective is their objective. Contact the Westchester County Riolo Team today to find your next luxury property!