In order to make sure a home remodeling project is worth your while, it’s a great idea to weigh the upfront cost of the investment with how much the project will increase your property’s value. Luckily, there are many remodeling projects, both large and small, that can lead to serious increases in property value.
Finish an Existing Basement
Finishing an unfinished basement will likely add serious square footage of livable space to your home, leading to you being able to ask a higher price when it is time to put your home on the market. The basement is a great place to add amenities that will add value to homebuyers, including a gym, movie room, or open living space.
Landscaping & Curb Appeal
First impressions are everything, so tending to the landscaping and paint of the home is essential! In fact, the National Association of Realtors says that landscaping projects boast a one hundred percent return on investment. Tending to chipped paint is also a must, as is ensuring you’ve addressed problems with asphalt roof shingles or the exterior trim of your home. A fresh paint job could be just what your home needs.
Update your Appliances and Fixtures
Updating fixtures and door handles, knobs, and faucets is a quick and somewhat inexpensive way to dress up your home. Furthermore, switching to stainless steel appliances is a great way to up the class and aesthetic value of your kitchen and attract prospective buyers.
Install or Refinish Hardwood Floors
The National Association of Realtors also states that refinishing hardwood floors brings a one hundred percent return, so this one is also a no brainer! Especially in higher-end homes, all carpet flooring should be replaced with hardwood to match the rest of the style of the home.
Replace the Roof
Replacing the roof also recovered 150% of its cost when it comes time to sell, so this is another great investment if your roof clearly appears to be well worn. Replacing the roof is also a great time to determine if your siding needs to be replaced, as tending to these matters on the exterior of the home increases curb appeal and makes a great first impression.
Install Energy-Efficient Windows
Energy Star rated windows are an important factor for prospective home buyers. Replacing the windows with energy-efficient ones as well as making sure the doors and windows have proper insulation will lower an energy bill and help the environment at the same time. The trend towards energy-efficient windows and appliances has only been growing, and we expect this trend to continue.
Turn a Shower into a Walk-In
Higher-end home buyers prefer to have a standing tub and a master bath shower. If space permits, this is a great upgrade that will attract buyers who are looking at high-end homes. Some homeowners are even opting out of baths altogether in favor of a larger and more luxurious walk-in shower that includes a bench.
There is a remodeling project within everyone’s budget! Whether you are ready to take on a large or small project, these are fixes that will undoubtedly increase your property value when it comes time to sell. These updates will also likely improve your quality of living in the home in the interim!
Corey Tyner is a writer and business owner who helps sell your house fast. He is the founder of Cash land buyers Arizona and Austin Fast Sell Home Buyers. As one of the top real estate investors in Arizona with over a decade of experience, his work has been featured on Bigger Pockets, Real Estate Agent Magazine, and several other mainstream real estate investor publications.