Do you know which home upgrades have a good ROI? This is the time of year when Alaskans are getting their houses ready to go on the market. Most sellers will want to do some type of remodel project or repairs that will increase the value of their home; perhaps encouraging a faster sale. If this is you, consider the following factors before you launch into a complete kitchen overhaul or invest in any other major upgrades.
What Are the Best Home Upgrades for a Good ROI?
First of all, a major kitchen remodel isn’t necessarily the answer. In Alaska, massive curb appeal or high-end landscaping might not be the best option either. However, you can easily get good return on investment with smaller upgrades like higher end lighting/plumbing fixtures, and a tidy, freshly mowed front yard.
Secondly, take the neighborhood into consideration. It's important to keep the project to the scale of similar homes in the area or possibly risk losing money on the upgrade! Instead, let My Favorite Realty do a comparison report for you before you renovate so you can make the improvements that meet your needs/goals and bring the most ROI.
ROI Based on Trends and Client Requests
Also, talking to the pros here at My Favorite Realty will make it easier for you to decide on what improvements to do and which to maybe skip based on trends and client requests. We can tell you what remodeling trends we are seeing and let you know what buyers we talk to are looking for.
For instance, a “drop zone” where the family can keep school backpacks, boots, keys and the dog leash organized is a nice amenity. A mudroom/laundry room with cabinets, a sink and folding table can be big deal. Here In Alaska, improving a home’s energy efficiency rating can provide a great ROI. Stopping drafts and adding insulation can possibly have a substantial return at resale not to mention reduced heating costs while you live there!
Here are a few other renovations for sellers in Alaska to consider:
- Luxury vinyl planks as opposed to carpet
- Transforming master bath into a more luxurious space with separate bath & shower
- Built in closet organizers
- Energy Efficiency improvements
- Repainting accent walls with neutral colors for more universal appeal
- New light and plumbing fixtures
Bottom line, as your realtors, we're here to help. We want you to save money on the right types of upgrades that will give you the best return on investment in Alaska’s beautiful Mat-Su Valley. Call My Favorite Realty at (907) 746-HOME. We live here, too!
