Enjoying being inside a home is one of the main reasons to renovate it. However, that’s quickly followed (and sometimes surpassed) by the idea of increasing ROIs through improvements. To generate as much profit as possible, choosing the right renovations is vital.
Whether it’s painting the walls a neutral tone or completely modifying the bathroom, AGM Renovations reviews that some projects have a better chance of recouping or making money than others.
A Fresh Coat of Paint
Paint offers jaw-dropping results without massive capital investment. Not to mention it’s quite easy to do, provided the right materials are to hand.
Deciding on a color can be tricky. However, pale, pastel yellow homes are reportedly selling for more money than others. The reason? Well, several:
- Visual Appeal: Yellow is a bright and vibrant color that stands out and attracts attention. It can make a home appear more cheerful, inviting, and visually appealing, which can be appealing to potential buyers.
- Psychological Impact: Colors can have a psychological impact on people’s emotions and perceptions. Yellow is often associated with happiness, positivity, and warmth, which can create a positive impression on buyers and make them feel more comfortable and optimistic about the property.
- Unique and Memorable: Yellow homes are less common compared to traditional neutral colors like white or beige. This uniqueness can make the property more memorable to potential buyers, helping it stand out in a crowded real estate market.
- Curb Appeal: The color of a home’s exterior can significantly impact its curb appeal. A well-maintained yellow exterior can make the property look well-cared-for and aesthetically pleasing, attracting more buyers.
- Historical and Cultural Significance: In some cultures, yellow is considered a lucky or auspicious color, which can influence buyers’ preferences. Additionally, certain architectural styles or historical periods may have popularized the use of yellow in-home design, adding to its appeal.
- Trendy and Modern: Yellow-colored homes may be perceived as more modern and trendy, especially when paired with contemporary architectural designs and features.
- Psychological Pricing: Some sellers use color psychology in marketing and pricing strategies. For example, a yellow home with a slightly lower price may be perceived as a better deal or a more affordable option compared to homes with more conventional colors.
It’s important to note that color preferences can vary. While yellow homes may be popular in one area, other colors may be preferred elsewhere. Ultimately, the success of selling a home depends on various factors, including location, pricing, condition, and overall market demand, in addition to the color of the exterior.
Naturally, a fresh coat of paint becomes less of a money-saving, high ROI-providing activity when using professionals.
Kitchen Renovations
Kitchen remodels can net as much as 77% of the cost, so it’s really a no-brainer. That said, homeowners should avoid making highly personal design choices if they’re primarily renovating to improve their sale price.
Potential buyers appreciate that somebody else did all the dirty work — renovations are not always a walk in the park, after all. But sticking with top-quality fixtures (e.g., granite countertops and stainless-steel appliances) is essential to avoid inhibiting sale prices.
Although, owners of smaller homes won’t recoup the costs of installing fancy ranges or other appliances. Instead, try to upgrade the present appliances with electrostatic paint and repaint the cabinets for maximum impact.
Bathroom Renovations
Bathroom renovations can provide returns in the 57% to 64% range, as long as people avoid anything that’s too trendy.
Classic features should be prioritized over of-the-moment additions to appeal to buyers of a traditional and contemporary aesthetics.
Interestingly, there isn’t a need to splurge on top-of-the-range fixtures. According to some designers, a Jacuzzi tub isn’t going to make or break a sale. Homeowners should prioritize quick touch-ups rather than going all-out unless they plan to stay and enjoy their latest creation for a year or two.