Updating Your Home with Resale in Mind
Updated: Dec 12, 2022
See the rest of the "Midwest Meets Cali" project on the Homes by Simmone website here!
So, you're ready to make updates to your home! Whether this is all at once with a remodel or over time with smaller projects, it's important to keep in mind how long you will be at this home. Is it temporary or a forever thing? The updates you make now will have a big impact on resale value. In the project pictured above, I worked with the homeowners on a budget conscious remodel knowing that they wanted to move within the next 5 years. The goal was to have a more comfortable, functional and aesthetically pleasing home that would net them more money when it is time to sell, covering the cost of the remodel and then some! Read this blog before making changes to your home if you won't be there for the long run!
Maximizing Your ROI
One of the main things to consider when updating your home is the return on investment. There are updates that can greatly increase your home's value and ones that could cost you. Kitchen remodels top the list for biggest ROI. However, this is if your existing kitchen needs some major TLC. If a full remodel isn't necessary, a simpler kitchen refresh with things like painted cabinets, added backsplash and new hardware will go a long way. Finishing basements, bathroom updates, new flooring, paint and lighting can also add to the value. Combining rooms, garage additions and pools in colder climates (like here in Minnesota) are all updates that you are not likely to get your money back for. If recouping these costs isn't important to you, they won't hurt your home's value! See more examples here.
Check out this kitchen before! We "refaced" the cabinets, giving them classic shaker doors and drawers, repainted them in a clean white and replaced the dated hardware. New lighting and an added backsplash make the kitchen feel more elevated and finished. Notice that we kept the granite countertops and replaced the mixed wood and carpet flooring with luxury vinyl plank that continued throughout the whole main level.
When updating a home with resale in mind, do your best to make smart and timeless choices. Avoid trends that come and go and leave that to the things that you can take with you, like furniture.
Home updates most often include a whole lot of paint. Paint is an inexpensive way to completely change a space, for better or for worse. Even if you think you're playing it safe with a neutral color, there are different undertones like yellow and blue that can come out in your home depending on lighting and surrounding finishes. Paint is difficult for many people to see past because it covers so much surface area. Make sure to do your research or consider consulting with a professional for larger projects. Below are my favorite paint colors from Sherwin Williams and Benjamin Moore for a solid starting point.
Favorite neutrals: best for walls and cabinetry
Sherwin Williams- Drift of Mist
Benjamin Moore- Revere Pewter
Benjamin Moore- Balboa Mist
Favorite whites: best for trim, doors and cabinetry
Sherwin Williams- Pure White
Sherwin Williams- Snowbound
Benjamin Moore- Chantilly Lace
Favorite bolds: best for accents like the fireplace or a kitchen island
Sherwin Williams- Iron Ore
Sherwin Williams- Homburg Gray
Sherwin Williams- Pewter Green
"Right Now" vs. Forever Home
Owning a home is absolutely something to be proud of and it's natural to want to customize it to your liking. With every improvement you make, remember to ask yourself, "is this my "right now" or forever home?". If the answer is right now, make updates that you will love, but the next homeowner is sure to appreciate as well. The objective is to improve your home's value which means making updates that the general public sees value in. Getting too personalized could mean a hard sell down the line. If this is your forever home, customize away!
Interested in updating your home for resale? Reach out for a designer guide consultation or to begin a project with Homes by Simmone today! Not local to the Minneapolis area? Ask me about virtual design!
Hi! I'm Simmone
I'm so glad you're here! I am an interior designer, realtor, owner of Homes by Simmone and completely obsessed with all things home. This blog is an exciting way to share my knowledge and grow my small business. Thanks for reading and stay tuned for more!
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