When you’re looking at living in your home for the long term, you might not care what return you’ll get on your dream kitchen or your gorgeous desk. However, if you plan to move in the near future, that return is very important. According to Investopedia, “the average home renovation returns just 65 percent at sales time – and that’s if the sale occurs soon after the project is complete.” Your goal is to spend a small amount on renovations and gain a lot in home value. Which home renovations will pay off by increasing the sale price of your home?
1. Make Your Home More Energy-Efficient
Investments in efficiency aren’t something that your buyers will write home about, but they provide you and the buyer with huge potential savings over the lifetime of the home. Insulating your attic won’t just save you energy: it also has a return that’s higher than 100 percent.
2. Add New Floors
If you have less-than-attractive floors, installing a long-lasting hardwood floor could be the home upgrade you need. Hardwood makes a home feel more like a luxury home, even if the other appliances and structures of the home are the same. Add hardwood and new paint, and you’ll feel like you have an entirely new home. Like most renovations, this one doesn’t always recoup its cost, but it can pay back up to 91 percent of the initial cost of the project. Stay away from engineered flooring and look at hardwoods like oak, which are almost universally loved.
3. Welcome People With Doors That Add Curb Appeal
Adding a new front door or garage doors can upgrade the look of your home and add a lot of curb appeal. You can choose traditional looks or go bold with a more decorative or brightly-painted door to complement the feel of your house. Curb appeal is important not only in your sale price but also in getting people interested enough to take a closer look at the home.
4. Upgrade the Basics
While staging and curb appeal will add value to your sale, what really matters to buyers are the basics. They want to know that basics have not been neglected. Most buyers are looking for low maintenance. They appreciate knowing that your gutters are clean and in good repair, your roof doesn’t leak, and the windows are energy-efficient.
Besides adding visual appeal, upgrading the basic features of your home can add to the sale price of your home. For example, according to HGTV, “siding replacement recouped 92.8 percent of its cost.”
Maintaining and renovating these aspects of your home might not be exciting, but they reassure your buyers and let them know that they won’t need to spend a lot on the necessities in the first months of owning the home.
5. Add Simple Upgrades to Larger Rooms
The kitchen makeover and the deluxe bathroom are both very attractive to buyers – and to your family before you sell the home. However, if you spend many thousands of dollars on these projects, chances are you won’t get your money back. These renovations are lovely but costly. If you’re upgrading for quick resale, focus on the fixtures instead. Upgrade things like paint, cabinet pulls and faucets instead of removing the entire countertop and buying new appliances.
At Harry Helmet, we’re proud to support families as they plan a move. Our gutter covers, seamless gutters, and roofing help make your home more valuable and simpler to maintain. Whether you’re renovating for your own enjoyment or you’re renovating in order to sell your home, we can help.