Home Improvement Projects That Will Boost Your Home’s Resale Value
If you're planning on selling your home in the future, it's crucial to think about ways to increase its resale value. Even small-scale improvements can make a big difference in the money you can get for your home.
10 Fixes to Improve the Value of Your Property
We'll provide tips and ideas on improving your home's resale value and making it more appealing to potential buyers. Whether you're working with a limited budget or have more room to invest in renovations, there are plenty of options.
You can help ensure you get the best possible price for your home when it's time to sell by doing these simple home fixes.
1. Install Insulation
Investing in high-quality insulation for a home is often overlooked, yet it can make all the difference. Superior insulation not only helps to reduce energy consumption and save money for the people living on a property, but it also protects the plumbing and wiring.
Insulation can be essential in attracting potential buyers, as it shows that important construction work has been taken care of before they even visit the property. Don't underestimate the value and appeal of making improvements to your home. This investment can pay for itself multiple times over a short period!
2. Improve Garage Door
A higher-quality garage door can be a wise investment choice when selling your home, as it can pay back at least 87% of the installation cost. Features like windows and extra insulation are desirable to buyers, as are carriage-style doors.
These features not only increase the appeal of the house but can also lead to lower energy costs. If you need to replace your garage door, it may be worth considering these options to increase the value of your home.
3. Incorporate an In-Law Suite
Incorporating an in-law suite into your home can be a great way to boost your home’s value while providing a comfortable living space for a family member or guest. An in-law suite is a separate living area built onto or connected to a single-family residence.
Incorporating an in-law suite into your existing home can bring many benefits, including increased resale value, rental income potential, and extra living space for guests or family members visiting from out of town.
Before taking on such a project, make sure that local zoning laws allow it and consider all costs associated with building such a structure before committing yourself financially. With careful planning and research, incorporating an in-law suite can be a beneficial decision short- and long-term.
4. Create an Outdoor Room
Homeowners across the country are turning to screen rooms and enclosed lanais as an affordable way to expand their living space. These unique features offer numerous possibilities for entertaining while still letting in natural light. For under $10,000, this creative solution is becoming increasingly sought-after by prospective buyers looking for an extra room with distinctive charm.
5. Replace Flooring
New flooring can increase the value of a home if you can make the right choices. The right upgrades can also make the house more attractive to potential buyers and help it sell quickly. Allergens in the home have made flooring a hot topic lately, leading many people to choose wood, vinyl plank, or tile options instead of carpet. Investing in new flooring can be worthwhile since it often returns an average of 91% of its installation cost upon sale.
6. Refinish or Apply a Fresh Coat of Paint
Color alone can transform a space, evoke an emotional response, and influence how one perceives their surroundings. Selecting the ideal paint hue is essential for creating inviting spaces that foster relaxation, helping your home stand out, or making potential buyers feel warmly welcome as soon as they enter.
A new coat of paint can be an easy and cost-effective way to makeover your home, increasing its value in the long run. Not only does painting reduce wear and tear over time, but it also boasts a potential ROI of thousands when selling. Investing in the interior or exterior painting is an excellent choice for those seeking to increase the value of their home with minimal effort.
7. Maintain Cleanliness
To increase the value of your home, making it cleaner and more presentable is a great place to start. By keeping up with tidying and organization throughout all areas of the residence, you can make sure that your property stands out from other homes on sale in the market.
An immaculate home can make a remarkable impression on prospective buyers, potentially increasing the value of your property and making it more competitive in an otherwise crowded market. From steam cleaning carpets to wiping down countertops, dedicating time towards thorough upkeep can result in significant appreciation when appraisers come knocking!
8. Install Vinyl Siding
Updating or adding siding is a simple way for homeowners to increase their home's resale value. This investment can contribute to the overall aesthetics and make it more attractive to potential buyers, potentially saving them energy costs. It is also likely to provide a good return on investment. With the right siding choice, homeowners can be confident they are making an informed decision with lasting results.
With vinyl siding, homeowners can transform their home's exterior using sophisticated textures, vibrant colors, and architectural trims designed to emulate natural materials. Vinyl sidings offer a range of conveniences around the installation, suitable for cemented walls or existing surfaces.
9. Replace the Roof
Are you planning on selling your home? A fresh roof may be the ace up your sleeve. Not only does it demonstrate to potential buyers that they won't have to worry about costly reroofing right after moving in, but often a new roof is enough incentive for them to put an offer on a property when competing with other homes. An updated rooftop will ensure you get maximum value out of such financial transactions.
When considering investing in a new roof for your home, it's vital to understand how it may affect the value of your home. If your current roof is nearing the end of its lifespan or experiencing leaks, replacement is likely a good decision.
However, choosing premium shingles may not necessarily result in a significant increase in home value. Factors such as the condition of your home and market conditions should be taken into account when evaluating the potential return on investment from this upgrade.
10. Redo Bathrooms
Bathrooms play a pivotal role for prospective homebuyers, and the Journal of Light Construction attests that renovating them can significantly boost a property's value. Investing in remodeling initiatives offers up to an impressive 58% return on investment - making it one of the most lucrative renovations available.
The National Association of REALTORS' Remodeling Impact Report claims that these remodel projects can provide an impressive return on investment, potentially reaching up to nearly three-quarters of the total expenditure when reselling.
Boost Your Home's Value with These Simple Upgrades
It is important to check the cost versus the potential return on investment before making home improvements. Also, be sure to examine the characteristics of your home and the current market conditions before proceeding. By carefully considering these factors, you can make informed decisions about which upgrades are most likely to increase the value of your home.
Lastly, if you are planning to sell your home shortly, it is a good idea to consult with a real estate agent to determine which improvements will significantly increase the value of your home. Boost your home’s value today!
