Which home improvements make you the most money when you sell?
Home improvements can be a great investment when you are selling your home, but what ones should you choose? Everyone wants to do the right thing and make their house stand out from the rest, but not everyone knows how to do that.
Here is a list of home improvements that will give the biggest return on your investment:
Adding a Deck
A deck can increase the value of your home up to 12% when you are ready to sell. If your house isn’t perfect, adding a deck will give it that final touch.
It’s true – adding a deck to your home is one of the best ways to increase the overall value of your house. When you are ready to sell, anyone looking to buy will see that you have put some time and energy into making your home more appealing.
You’ve worked hard for the money you are putting into the new deck. You want to make sure that it is worth it in the end. So instead of randomly choosing what materials you want your deck made out of, you ask yourself – what will add the most value to my home when I go to sell?
The answer is simple – wood. Deck materials make up a huge portion of your overall deck cost, and much like real estate, “wood” comes in many different categories. The two main types of wood include pressure-treated wood and cedar.
Cedar is a great choice when it comes to adding value to your home. It’s the ideal material for a deck, and one of the best reasons is its durability; cedar resists decay and staining, which makes it an expensive yet long-lasting option.
If you opt for pressure-treated wood rather than cedar, you will see a decrease in value. Although it is less expensive, the overall quality of the deck – and your home – will be reduced.
If you want to increase the value of your home when selling, consider adding a deck today!
Replacing Your Roof
The roof of your home is the first thing people notice, and it can make or break your sale. If you are looking to sell your home, replacing an aging roof will increase its overall value by up to 10%.
If your roof is already ten years old or more, it is likely high time to consider a replacement. If you keep living in the home as you prepare for sale, make sure the weather can be predicted well enough into the future that there won’t be any repairs required before going on the market.
Replacing an older roof with a modern, high-quality shingle can add about $5,000 to the value of your home when you put it up for sale. If there is evidence of any leaks or other damage to the roof, expect this figure to increase by another $2,500-$3,500 in repairs costs.
Your choice of colors and materials will also play a role in selling your home, especially if you are looking to sell quickly.
Sellers should look for shingle colors that complement the exterior of the house and materials that indicate quality, strength, and longevity. Fiber cement shingles are an increasingly popular choice because they look great on any home while reducing noise from rain or hail.
The estimate of $5,000 to $8,500 is just an average and will differ depending on the size and style of your home. However, it will definitely be less than the $10,000-$15,000 that it would cost if you wait to replace the roof until after selling. If your roof was built before 1978, it will definitely need to be replaced.
Replacing your roof is one of the most cost-effective home improvements that you can make. By choosing materials and colors that match or exceed those found in neighboring homes, you can increase the value of your house immediately. Not only does this mean more money in your pocket when you go to sell, but also the freedom to make more changes to your home in the future.
Replacing Old Kitchen Cabinets
Replacing Old Kitchen Cabinets is a home improvement that will increase the value of your home when you go to sell. In addition, it is an inexpensive renovation, usually costing less than $10,000.
In general, renovations that affect the kitchen and bathrooms give you the greatest return on investment when selling a house. Therefore, if you want to make a low-cost improvement that will help increase the value of your house, replacing old kitchen cabinets with newer and more modern ones is a great option.
Kitchens are at the center of many homes, and buyers often use them to determine if they really want to buy a house or not. If you have dated kitchen cabinets with doors that do not open completely, or that have scratches or other imperfections, then you should think about replacing them. However, even if your cabinets are in good condition but are twenty years old or more, it is still a great idea to replace them with new ones. This will give your kitchen a modern look and feel that makes buyers take notice.
Instead of replacing all your cabinets, you can also just replace the doors of your existing cabinets with new ones. If you do not want to spend a lot of money on a full renovation but still want a modern look in your kitchen, this is a great option.
Another way that you can give your kitchen a more modern appearance without replacing the cabinets is to change out the knobs and other hardware on them. If you have old handles that are brass or silver, replace them with new chrome handles. This small change will completely update the look of your cabinets without costing very much money.
If you want to increase the value of your house when selling it, replacing kitchen cabinets is one of the best home improvements that you can make. It is an inexpensive renovation that will not take too much time or money, but it can give your kitchen a completely new look. This small change will increase the value of your house and help you sell it more quickly than if you had left the cabinets alone.
Kitchen remodels in general can bring in big bucks when you go to sell. If you don’t have the time or money for this one, just adding new appliances is an easy way to add value to your property!
Update Outdated Bathroom Fixtures
You never want to update everything in your home when you go to sell it. However, there are some updates that make good sense and can add a significant amount of money when you sell. Replacing old bathroom fixtures is one of those updates.
Newer, updated fixtures can greatly affect the final sale price of your home. Replacing the look of your bathroom with new, updated fixtures can increase the value by up to seventeen percent.
Replacing old faucets, toilets, or bathtubs with brand-new, updated designs will make your bathroom more attractive to potential buyers and add value to your home for when it comes time to sell.
After you update the faucets, toilets, and bathtubs in your bathrooms, you should consider replacing the showerheads and sink aerators as well. Installing new showerheads and sink aerators is an inexpensive way to update your bathroom and make a small difference in how it looks. This too will add value to your home when you go to sell.
Replace Outdated Countertops
If you’re looking to improve your home before you put it up for sale, one of the smallest updates that can yield some impressive results is replacing outdated countertops.
If you’re not sure what’s old and what’s new in the realm of kitchen counters, take a look at our list below.
Granite or marble countertops are beautiful, but these classic materials are definitely on the top of the “old” list. If your home doesn’t include newer countertops like quartz, concrete, or butcher block, your home buyer will likely choose to upgrade them along with other kitchen updates.
On the other hand, new counter materials can add value to your home if you’re planning to stay in the house long-term. There are many new counter materials on the market, but some of our favorites include quartz, which is strong and elegant for a great price; concrete, which offers durability and unique patterns; and butcher block, which adds warmth to your kitchen with its woodsy tone.
Flooring Renovations
Flooring is definitely one of the most important room renovations you can do to your home. While it’s not an overly expensive renovation, floorings will increase your home value more than any other improvement.
When you go to sell a house, everyone knows the three things that a buyer will first check: Kitchen, Bathroom, and Flooring. After all, these are the areas where you spend most of your time while at home.
Here are some examples of flooring renovations that will give you the biggest return on your investment when it comes time to sell your house:
One of the simplest ways to improve your floors is to replace old carpet with new high-quality tiles. It’s also one of the quickest renovations to do. If you’re thinking about putting your house on the market, then even a cheap carpet replacement will give you a greater return than a new bathroom or kitchen renovation.
One great option is engineered wood. It’s a solid flooring made from different layers glued together to make it stronger and more durable than a standard wood floor. It’s also cheaper than hardwood, but it’s higher quality and has a more consistent color across the planks.
In addition to higher quality, engineered wood also offers a lot of design possibilities. You can get it with matching or contrasting grooves, add borders on one side of the planks, or add inlays or accent strips.
It’s also extremely easy to install, making it one of the easiest flooring renovations you could do if you want to increase your home value quickly.
If you’re looking for robust flooring that will give you options in any room, then the vinyl tile is an excellent choice. You can choose from many different colors and styles, and they’re easy to install. Vinyl tiles can also be a practical choice, as they’re water-resistant and don’t require the same maintenance as other flooring types.
If you’re going for hardwood flooring, then there are a few things that you should look into before starting the renovation. For example, engineered wood flooring is sturdier and easier to install than solid hardwood. You can get engineered wood in the same size planks, and it’s cheaper without losing any of the beauty of a solid hardwood floor.
Finishing Your Basement (lower level)
If you are considering finishing your basement here are some things to think about.
Finishing your basement is a very cost-effective way to increase the value of your home. It also adds value through extra living space and an opportunity for increased privacy.
The size of finished basements varies, but they can range from 300 sq ft to over 800 sq ft, depending on the square footage of your home.
Think about how much money you are spending to heat and cool that square footage during the year!
If you have a 200 sq ft basement, even at today’s low energy prices, you could save between $1,000 – $2,000 per year in utility bills by finishing it.
One thing owners commonly do is finish off the rough-in plumbing, or install new wall base molding to cover the wiring.
If you are planning on selling your home within two years of finishing your basement, it would be best to keep costs down and focus primarily on cosmetic changes.
A general rule of thumb is that if you are spending less than $5,000 on your basement you are not adding much value.
If you spend $5k – $10k you should definitely get a higher return than that when it comes time to sell the house.
As far as costs go, keep in mind that there are additional things to consider such as handicapped accessibility, finishing off a bathroom, and heating costs.
If you do plan on finishing off a bathroom, make sure to add a ventilation fan and new exhaust piping. This can be surprisingly expensive if not done properly.
In Conclusion
If you are planning on doing any home improvements, make sure that they fall into these categories in order to ensure the biggest return when you go to sell.
Once again, if you are thinking about selling your house soon, make sure to do any of these home improvements before putting it on the market. They can really help to increase your property value and get more money for your sale!