If you own a home and you want to successfully get back your investment from your property, dumping tons of money into improvements probably isn’t the way to go.
Some improvements may make a house look nicer, but won’t really add to the resale value of a home, especially when so many houses are selling for a fraction of what they cost.
Below is a list of several things that will help the resale value of a home.
Some of which are cost effective and others are more expensive long-term investments.
The first thing you want to do is increase the home’s curb appeal. The idea is to get people into the house and then wow them, but the important thing is to actually get potential buyers in the house. You can encourage interest with external improvements that either will or won’t cost you a lot. It just depends on how much ‘wow’ you want to have. Some curb tactics are just simple maintenance, such as grooming your garden/lawn, replacing gutters, damaged or discolored siding, and adding a fresh coat of paint to parts of the exterior. When you start talking about adding a new roof or privacy fence is when it starts to get costly. The extent of your roofing project will cause the price to vary. So if your home currently sports asphalt shingles, but you are interested in a more modern, sustainable material and have the budget to do so, consider upgrading to a metal roof or clay tiles. These improvements will add to the value of the home.
Bathroom and kitchen remodeling are important if the overall aesthetic of the property you’re investing in looks aging or run down. When a person is walking through a home, most don’t see the potential. They want to see themselves in a home and simply move in and start living. Other areas of your house may need a little work and while you’re getting the job done, don’t risk damage to your belongings. Use self-storage companies, like StorageMart, to keep it out of the way during the remodeling phase of your property. A house may have a ton of potential but spending a few thousand on updates can get you a huge return on your home’s value.
Replacing widows, doors, insulation, and other features are wonderful at both increasing a home’s curb appeal and efficiency. With climbing costs in heating and cooling it’s always a good bet to update the areas of a house that traditionally are most hard on your bills. Regardless if you plan on selling in the long or short-term, including these updates are always a good way to go. And of course – you need helpful DIY home tools!
The old saying always seems to hold true, something is only worth what another is willing to pay for it. Doesn’t matter what your house says it’s worth on paper, if you can’t get someone to spend that much, it’s just an arbitrary figure. Spend what you can afford, if you think it’s worth it. It just depends on how bad you want to sell the house, how much money you’re willing to invest, and what you think the return will be.