Today we’re talking renovations that add value to your home for resale and some inexpensive ways you can upgrade.
According to Remodeling Magazine, the top home maintenance projects to recoup your investment are:
Insulating your attic and replacing your garage door, front door, and the windows. Insulating your attic and replacing your front door will each typically recoup more than 100-percent of their cost. Replacing a new garage door recoups 92% and replacing those windows will get you about 91%. However, before spiffing up your house, your first priority needs to be addressing the basics: repairing pipe leaks, leaks in windows, and inspecting your furnace/septic system.
Here are some other projects that add the most resale value:
- Your kitchen. People love seeing modern conveniences and styles. Especially in older homes, kitchen improvements usually add value.
- Closely behind the kitchen is the bathrooms. Again, modernizing older styles or appliances usually yields a good return.
- Everyone knows having a strong curb appeal is key. If people drive by your home and aren’t impressed…they’re not even going inside. Investing 4 or 5 hundred dollars in landscaping, can bring a return of four times that.
- And finally: your roof and windows. Yeah, they’re expensive to replace, and buyers expect them to be in good condition. That means replacing them won’t dramatically increase the value, but…not replacing them will likely significantly decrease it.
Here are some cheap, easy, and fast ideas to help out those areas of high resale value:
- Paint keeps your home looking like it’s in tip-top shape – making the old dog new again. Focus on high-traffic areas, like the kitchen and bathrooms. Also take a look at the the exterior. It’s not really inexpensive… but if the paint is peeling, cracking and looking quite sad – dishing out money for a fresh coat is worth the cost.
- In the bathroom: replace frosted glass with clear glass, clean the grout, apply fresh caulk, update doorknobs and cabinet pulls, and replace faucets.
- Hardwood floors are super desirable… and there’s a chance they’re hiding under your wall-to-wall carpeting..or a couple layers of it. Just pull up a small corner of the carpeting in an inconspicuous area and check the condition of the floor. If there is hardwood underneath, you can remove the carpet and restore the original hardwood floors, which is actually much more cost-effective than replacing the carpet or installing new floors.
You don’t have to do a total house remodel to get a bang for your buck. In fact, the big expensive remodels likely won’t get you a high resale value. So just make some small, logical changes to help increase the value of your home.