If you are updating a house for sale, especially your own you need to look into ways you can raise your homes property value. Raising the property value will help you to sell your house for a higher cost, thus covering expenses used on the renovations and hopefully reaching the goal selling price. When looking at a house there may be several large projects you would like to tackle to improve its look and efficiency. However, this may not be possible. You want to choose a few renovations that are guaranteed to provide large returns on investment. If you are still having trouble deciding which renovations to do, here are a few ideas:
One advantage of owning a house is having yard space. Nothing enhances a yard like a wood deck. In this example from HGTV, they show the benefits of adding a 16-by-20-foot deck, including a railing system with pressure-treated wood posts, railings, and balusters. They explain that this project can hold more than 82 percent of its resale value.
This makes the deck a great investment for someone looking to liven up the backyard and entice buyers. Not only will it assist in selling the house, but in the time you still occupy the space you can enjoy this amazing deck. We could all use a bit more time outside, and what a comfortable way to do it- right in your backyard.
Before you embark on a major kitchen overhaul, consider a minor one. In another example from HGTV it was put forth that a $12,198 investment could recoup about 81 percent of its cost. Included in their remodel was 30 linear feet of cabinets. Cabinet boxes are left in place but updated, they replaced the countertops with new laminate.
You could also include updating appliances to energy-efficient models. You can give or take what you would like to include in your kitchen remodel based off your budget, but know that almost any update will help. Kitchens can be considered a focal point for home buyers and putting a little extra attention here can pay off big time.
Window and Door Replacements
Curb Appeal is extremely important when it comes to selling your home. Your buyers want to envision themselves opening their door for their family on the holidays or waving goodbye out the front door to their children on the school bus. They certainly will not be able to create this visual if the exterior of the house is outdated or in need of maintenance.
While windows and doors can be put off for a long time, replacements can cause the value of your home to increase substantially. A fiberglass front door replacement can also still provide the beauty of your old wooden door through good cast and paint jobs. Fiberglass doors will also have on average, an 82.3% return on investment by providing you that more secure entryway and adding to the value of your home.
After years of opening and closing, window fans and air conditioners, older wooden and aluminum window frames take a reasonable amount of wear and tear. Replacement windows can last 15 to 20 years on average with proper maintenance and offer at least a return of at least 70% on the investment, making this a great home improvement.
For a cost-efficient option that requires a low level of upkeep, a vinyl or fiberglass window frame is recommended. Wood frames can provide beauty however they require cleaning, possible wood refinishing and much more that may be too much for busy homeowners.
In today’s market, a bath remodel is a sure-fire investment, often returning more than 100 percent of the cost. In Baltimore, for instance, a $9,400 bathroom remodel recouped 182 percent of its cost at resale, according to Remodeling’s 2004 study. Kitchens and baths are the areas in a home that will call to the buyer the most. Imagining themselves and their families living in these spaces, feeling comfortable and at home.
When remodeling the bathroom think traditional: all-wood cabinets, commercial-look appliances, natural wood or stone floors and stone countertops. Perhaps consider a focal point of a large walk-in shower or tub to add character to the space. Another idea for upgrading the bathrooms in your home is to add a new one.
Don’t use all the money remodeling a single bathroom if it’s the only one you’ve got. Your money could be better spent adding a second bath. Many people love the charm of older homes but a number of older homes lack a sufficient number of bathrooms. So if you’ve got a four-bedroom, one-bath home, it’s certainly going to pay to add a second bathroom.
Attention to The Exterior
Want a fresh perspective on the value of your home? Walk across the street, turn around and look at your home from an outside perspective. Make a list of ways to enhance the exterior of your home. If you have a nice curvy walkway, accentuate it with flowers or lanterns. When looking at the exterior of the yard, many buyers look for a well kept property. A well-manicured lawn with a few nice flowering plants can also add to the curb appeal of your home immediately.
If the first thing a visitor sees is your big wide garage, try to guide their eyes into a beautiful front yard, or paint your front door red to guide the eye there. Maybe repaint shutters if you have them or clean out the gutters. These tiny changes can make the value of your home skyrocket.
With these ideas, we hope you are able to increase the value of your property. With the proper time and investment capital available you can turn your house into a home of your buyer’s dreams!