Upgrades To Increase Home Value
Most home buyers are going to take the basic functions of a house for granted when they’re looking for a new place to live. Before you build a new deck that’s perfect for hosting backyard get-togethers, you better make sure your roof is in good shape and there are no surprising leaks in your basement after heavy rain.
When it comes to the top improvements to sell your house, you might get the most bang for your buck with a kitchen remodeling project. In upscale neighborhoods, for example, luxury kitchen and bathroom remodels can sometimes return over 100% of investment. Knowing the wants and desires of home-buyers looking at your neighborhood will help you decide what renovations add value to a home in your area.
The condition of the rest of your home also plays a role in ROI. A marble bathroom in a home with a musty basement simply doesn’t makes sense. Count on a modest kitchen upgrade as a project with the most reliable ROI. When you upgrade your kitchen to the tune of around $15,000, you can expect a return when it’s time to sell of just shy of 93%. This is definitely one home improvement project you can enjoy for years before it’s time to sell.
Coming in just behind this at 92.8% is new exterior siding. While it may not be as glamorous as an updated kitchen, new siding really changes the look of your home. Curb appeal also carries a big impact for buyers. New siding can refresh the look of your entire house and helps encourage potential buyers to come inside. 3. Replacing an old or damaged roof provides great ROI, and so does updating doors and windows. These projects earn homeowners 80% of more of their initial investment when it’s time to sell.
The ROI Home Improvements Brings You
Home additions can be excellent for adding value, too. Typically with every 1,000 square feet you add to your home, the value increases by around 30%. This is especially true if you live in an area with a hot housing market. Consider a sunroom, an attached or detached garage, or an extra bedroom.
If houses in your neighborhood have more bathrooms than yours, a bathroom addition can offer the best ROI with an average of 86.4%. (Other additions usually come in at about 70-85%.)
If you’re ready to invest in your home, the projects in this list are a great jumping off point to ensure your home improvements are money well spent.
Now is the perfect time to consider additions that add value to your house. Let our expert team help you with your Terre Haute home improvement projects this season. Give us a call for a free estimate, and let us know if you’d like to discuss financing options.