If there is one thing a San Francisco real estate agent can tell you, it’s this: The money you spend renovating your home yields the highest return on investment. There’s logic to this statement. San Francisco luxury real estate is in hot demand. The more you make your home appealing to potential buyers, the easier time you’ll have selling your property if you decide to move.
Getting the Most Bang for the Buck
The right home renovations attract the attention of hopeful buyers who are looking for the most bang for their buck. They’re no different than you, because they want to experience true happiness with their home, its location, and its contents. They want their money to come back to them twice rather than lose a fortune on a bad investment.
Home buyers looking to purchase San Francisco luxury real estate are also not interested in making renovations themselves. There is a fixer-upper market out there, but due to permits, time, and expenses, many San Francisco home buyers would rather purchase a home that requires minimal work. There’s also a chance you will have to make the renovations anyway, especially if something is not up to code, and it is better to make renovations before you are caught up with selling your home.
Home Renovations to Make in San Francisco
Renovation projects are seldom quick or cheap. They’re typically detailed and costly. That’s why you need to carefully weigh the pros and cons of doing renovations on each of the main areas of your home. You don’t want to take on too many repairs and realize that you don’t have the time, money, or desire to finish the projects.
The top 5 home renovations for yielding a higher return on investment in San Francisco are:
- Exterior Improvements
- Major Bathroom Remodel
- Major Kitchen Remodel
- Deck or Patio Build
To fully understand how each of these renovations impacts the home by increasing its value, it’s important to look at each item on the list individually. That way, you’re able to explore the potential of each project and the impact it has on your overall space. It gives you an idea of how other people will view the renovation once it’s done.
Home buyers may be looking for the perfect kitchen or a luxurious deck for entertaining. When they view your home with a Realtor, they discover quickly if a home contains the must-have items on their list. This helps raise the perceived value in their mind because the things they don’t want to do without, such as a large kitchen island or screened-in patio.
Curb appeal counts for everything. It’s an important aspect to consider when selling a home. How a house looks when a person sees the outside of a home for the first time determines whether they’ll want to look at the interior of the property, too.
Landscaping helps pull everything together by making the yard ornamental and attractive. When trees and bushes are well-kept and trimmed, people see the potential of the place they’re considering buying.
A structurally-sound home attracts many people. After all, it’s very expensive to make outdoor repairs to roofs, siding, and foundation. If you have the money to give the exterior of the home an upgrade, by all means, do so.
Along with landscaping, it adds a considerable amount of curb appeal which helps a house sell. People see just how well the home fits in the neighborhood, too. The property value of a place increases when it looks as good as the other residences on a block.
Major Bathroom Remodel
Many people don’t bother to remodel the bathroom when they’re making renovations on their home. It’s a big mistake that could cost them money when trying to sell their property. People want to see a finished bathroom in all its glory because it is one of the highest traffic rooms in a space.
They want to know if there is room for a big tub or his and her sinks. Giving potential buyers a visual of what the bathroom is like helps ease many people’s concerns, especially if they have a large family or require extra time soaking in the bathtub due to an injury.
Major Kitchen Remodel
If you can’t afford to do it all, make sure to give this area of the home the attention it deserves. The kitchen is among the most important spaces in a house. It’s where meals are prepared and memories are made.
Having a fully-functional kitchen to work with is seen as an asset. People get a lot of use out of this space which is why they invest in new countertops and appliances when given the chance to renovate the space. Being able to prepare meals and do dishes with ease is something homeowners greatly appreciate.
Deck or Patio Build
A deck or patio adds additional space outdoors where people can connect with one another, enjoy the weather, grill, and throw parties. It’s a functional area outside the home that offers some protection against the elements, too. A covered deck or patio can be used year-round with minimal effort.
Your San Francisco real estate agent will explain just how important a backyard is in the city. Having a deck or patio on your property increases its value. It’s a selling point that buyers look for especially if they have children or pets.
Investing in Home Renovations
Now that you know which areas of the home to focus on while doing your renovations, you’ll be able to maximize the money that you put into remodeling by getting a higher return on investment when the property sells. All the repair work pays off because not only does your home look its best, it also functions better as a living space for other people, too.
San Francisco luxury real estate has certain qualities that make it desirable. Newly renovated homes are fresh and appealing to homebuyers. They see the work that has been put into maintaining the home and know they are getting their money’s worth when they buy the property.
A home is an investment that appreciates over time, especially in San Francisco. Knowing which home renovations to schedule and which to forgo altogether can make a huge difference when it comes to getting a return on your property. It won’t be money wasted when you sell your home for twice the amount you paid for it!
An experienced San Francisco real estate agent can guide you through the home selling process, providing guidance as to which renovations are the most important for your particular home. Danielle Lazier + Associates have a proven track record for getting home sellers the highest returns on their real estate investments. If you’re looking to sell — or buy — a San Francisco home, reach out to us today!