1. If you had to choose, what would be the best exterior project to grow a home’s equity?
I would recommend replacing or upgrading your siding, especially to insulated backed siding. Insulated siding is visually impactful, energy efficient and it is one of the best curb appeal projects overall.
2. Likewise, what would be the best interior project to grow a home’s equity?
Kitchen and Baths. As for the kitchen, countertops are a huge plus, sink & faucet, of course the appliances if the budget allows. For the baths; if you can only do one, make sure the master is spot on! That’s a huge selling point in todays market.
3. If planning to sell, is it more beneficial to upgrade the flooring throughout the home (removing old carpet and installing hardwood floors, etc.) or upgrade kitchen countertops to a high-end finish?
When selecting an element to upgrade, the surrounding features play a very important role. If your kitchen cabinets are builder grade or worn down, replacing the counter will matter very little. All things being equal, a nice kitchen and master bath can sell a home more so than any other room. If you are only considering countertops vs. floors, I would recommend upgrading the kitchen countertops.
If you are considering a particularly high-end upgrade, I would recommend flooring because high-end floors are a more impactful, single change . A high-end kitchen upgrade ought to include new appliances, a backsplash, and new countertops.
4. What inexpensive project is the most impactful for increasing a home’s equity?
The best budget-friendly projects for increasing a home’s value overall are interior improvements. Potential home buyers are less overwhelmed by outdoor tasks, such as landscaping, than interior projects.
One of the easiest and most cost-effective changes one could make to increase their home’s value is a fresh coat of paint. A close second would be light kitchen upgrades, like adding a backsplash.
Head to Alabama Home Values for a free home value estimate of your property.
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