April 2018

Tips to boost your resale know-how

One of the great benefits of owning your own home is that you can do whatever you want with it. If you want to paint your living room in zebra stripes, add trendy chandeliers in the dining area or install a sparkling pool in the backyard, no landlord can stop you!

But with great freedom comes great responsibility — at least if you're planning to sell your home someday. In that case, you may want to prioritize your home's resale value over your personal preferences when choosing home improvement projects.

Here are three tips to help you pick renovations that could really pay off when it comes time to hang up the "For Sale" sign:

1

Explore how in-home technology can influence buyers.
Access the Bank of America 2018 Homebuyer Insights Report® to find out how consumers are turning to technology in their everyday lives — including when buying a home.

2

Understand the demographics of your neighborhood.
If your neighborhood attracts tech-oriented, environmentally conscious millennials, how about installing a smart home lighting system and energy-efficient appliances?

3

Opt for simple, functional upgrades over designer fads.
Trends come and go, and what's hot today may leave a potential buyer cold a few years from now. Focus on renovations that will stand the test of time such as minor kitchen or bathroom remodels and "curb appeal" exterior projects.

 

The bottom line: All renovations are not created equal. To increase the chances that you'll get more for your home than what you originally paid, spend time researching your planned improvements carefully.

If you have questions about financing options for home renovations, let's talk.

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