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 today, it will increase the value of your home when you sell it. Will sometimes be worth more than the price you paid. Whitney Homes has everything you need to make a big impact on the value of your home!
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 cause nothing but trouble. 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. Installation of a new garage door can cost you less than $1,500, and still give you a good profit. 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
Decking made from wood or composite materials is becoming increasingly popular. It’s 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. Like garage doors, decking is very worthwhile and offers impressive returns.
What you get back depends on the kind of property you own and the size of your lot. But you could receive huge profits from selling your property in some areas. You may get as much as 83 percent.
#3: Kitchen Remodel
Kitchens are often an attractive feature for buyers when they look at new properties. 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 most modern homes. There are many things that make them unattractive, but when you consider the return on your investment, investing in them is a good idea. 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. New exterior siding can dramatically improve the look of your home, while encouraging buyers to spend more money to buy it.
It costs around $12 per square foot to add siding to your home. However, you could earn up to 75 percent of your investment. But, the average returns on investments in home improvement projects are around 75 percent.
Find out how you can sell your house at a higher price and increase its value by visiting our website!