Many homeowners are choosing to renovate and remodel their homes with the hope of increasing their resale value. However, the returns of some of these projects are not very significant.
Some of the projects don’t even bring any returns, and some can even have a negative effect on a home’s value. These happen when a homeowner focuses on the wrong upgrades.
The secret to increasing the resale value of any home is knowing which upgrades will bring the highest value. Below are some of them.
Kitchen Remodel
Remodeling the kitchen is one of the best ways to increase the resale value of your home. Some of the most common kitchen remodeling projects include:
- Adding a kitchen island
- Upgrading the faucets
- Adding more storage space
- Updating the lighting fixtures
- Installing tile, laminate, or wood flooring
- Adding new countertops and cabinetry
Remodeling the kitchen can look like an expensive project, but it’s worth it.
Bathrooms Upgrade
Upgrading the bathrooms is also an effective way of increasing the resale value of a home. It’s easy to upgrade an outdated bathroom to make it more functional and stylish. First, focus on functional issues, then go to cosmetics. Are there leakages? Or are some areas damaged? Work on them first. After that, you can now go to luxury updates such as:
- Adding a steam shower and jacuzzi tub in the master bathroom
- Installing double sinks
- Adding more storage areas
- Upgrading the vanities
- Installing heated floors
Deck Addition
Adding a deck is also a good way of boosting the resale value of a home, and this is for some good reasons. Decks increase the utilizable space of a home and also increase its curb appeal.
Decks are available in different materials. Wooden decks are a favorite to most people. Composite decks are also good, although more expensive than wooden ones. They are also of higher quality and are easy to maintain.
However, you should evaluate some factors before building a deck. For example, a deck might not add a lot of value in homes located in areas with long and harsh winters. This is because people living there don’t get to spend a lot of time outdoors.
Gutters Replacement
Gutters affect on resale value too. It’s crucial that you replace your gutters before calling appraisers to value your home if they are not in good condition. If you don’t, they can detract a significant amount of cash from the resale value.
Anyone looking for a house to buy will go for a house with good quality gutter systems such as the K-guard gutter system that collects rainwater, protects the building and enhances the curb appeal of a house.
Energy Efficiency Improvement
Does your home have drafty windows and doors? Or is the insulation wanting? Then you need to make it energy efficient before selling it. You can start by replacing high-energy-consuming appliances with those that consume less energy. These may include dishwashers, dryers, and refrigerators. Below are some of the energy efficiency projects you can undertake:
- Installing solar systems
- Replacing old windows
- Improving insulation
Before you decide which energy efficiency projects to undertake, you can do a home energy audit.
Landscape Improvement
Improving the landscape is an inexpensive way of increasing the value of a home, and you can even do it instead of involving a professional. A well-done landscape enhances the aesthetic characteristics of a home.
Some of the landscaping improvements include:
- Planting trees
- Removing dead trees
- Planting flowers on flower beds and baskets
- Reseeding the lawn
Exterior Painting Touchup
Touching up on the exterior painting is a cost-effective way of increasing the value of a home since you only work on the flaking areas. If someone walks into your home and starts negotiating for the prices, they expect to get a presentable and ready-to-move-in home.
If the exterior paint is faded, potential customers might not even want to check out the interior of the home. Some may consider buying it and offer lower prices. You can paint the exterior if you have the expertise or involve a professional painter.
Upgrading a home may look like a very expensive project, but it’s worth it when done properly. Some projects such as remodeling the kitchen, building a deck, and upgrading the bathrooms are expensive, while some like landscaping and touching on the exterior paint coat are quite affordable.
Just consider your budget and the value you intend to get after selling your home to identify the most suitable upgrades.
