The Top 5 Home Improvements That Increase the Value of Your Home
Meta description: The five most popular investments for homes in terms of return on investment are replacing garage doors, replacing wood with composite decking, remodeling kitchens and basements, and installing new siding.
Many homeowners think that making improvements to their home is a waste of money – a decision that they will never make again. But some improvements can actually increase the value of your home if you plan to sell it.
But that’s not really how it works in practice. If you spend money to improve your home, it will increase the value of your property when you come to sell it – sometimes by more than the amount you spent! Whitney Homes has everything you need to increase the value of your home by making improvements to it.
Here are the top five things you can do to increase the value of your home.
#1: Updated Garage Door
Buyers understand that garage doors are nothing more than an expensive hassle. They continually fail because of the complicated gears and motors that they contain.
There are some people who just get excited when they see a new door being installed in their garage. They get very excited because they think that they will get a huge discount for doing this. Many buyers are thrilled to be able to buy a new garage door as soon as they move in. They are excited to save money by not having to call a repair team out within a month. Installing a new garage door can cost you less than $2,000. In fact, you could get back nearly 100 percent of the money you paid. That means that the real price (if you do wind up selling your home) of a $1,500 door could be as little as $20.
#2: Wood Deck
Wooden or composite decking is becoming more popular as it is taking market share from traditional patios. Homeowners enjoy having guests for dinner or having a picnic in the back garden while they survey the land. It’s a great idea, and guests really enjoy sitting on the decking in their back gardens, looking over the garden.
But a deck is worth more than just looking good. This is why, like garage doors, a good investment can deliver impressive returns.
What you get back depends on the property you purchase and the location. However, you could get back up to 83 percent.
#3: Kitchen Remodel
When buyers are buying a new property, the kitchen is often a big deal. They either love it or hate it! It’s either they love their kitchen or they hate it.
People didn’t think that a huge kitchen remodel was worthwhile; estate agents recommended doing a small refresh when selling a house. Estate agents generally suggest that homeowners save money elsewhere or, at least, that they do a quick renovation.
But new research suggests that some kitchen remodeling may actually be worthwhile. Remodeling Magazine found that homeowners can expect to recoup 63% to 82 percent of the costs of their kitchen renovations when they sell.
#4: Remodel The Basement
Basements don’t get much love from a lot of modern homeowners because they are too dark and smelly. There are many reasons why basements are unappealing – high radon levels and general murky conditions make them unattractive – except that they could be used for storage.
If you look at return-on-investment statistics, investing in a basement is like investing in a luxury car. If you finish a basement renovation, it can be worth almost double the money that you invested. That’s not that bad.
#5: Exterior Siding
You might want to consider investing in new siding. Installing new siding on the outside of your house can boost the curb appeal of your property by about 30 percent, encouraging potential buyers to spend more money!
The average cost of adding siding to your home is around $12 per square foot. However, the results are very impressive; they are estimated to be in the region of 75 percent.
Find out how you can sell your house at a higher price and increase its value by visiting our website!