5 Improvements That Will Increase the Value of Your Property
The Top 5 Home Improvements That Increase the Value of Your Home
Meta description: The top five home investments based on return on investment are replacing garage doors, installing wood decking, kitchen remodeling, basement remodeling, and replacing the exterior siding.
Many homeowners view home improvements as sunk costs – things that will never be recouped.
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 are constantly breaking down, because of all the complicated gears and motors that they contain.
Buyers get carried away when they see a new door in the driveway. They think that buying a new door will mean saving money. 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. This is why, like garage doors, a good investment can deliver impressive returns.
What you get back depends on the property you purchase and the location. But you could receive huge profits from selling your property in some areas. You may get as much as 83 percent.
#3: Kitchen Remodel
When buyers are buying a new property, the kitchen is often a big deal. They either love it or hate it! When buying a new property, buyers typically love the kitchen—or they hate it.
Traditional estate agents wouldn’t recommend full kitchen remodels, because it was thought that selling the house would bring the most money to the seller. 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 a lot of modern homeowners because they are too dark and smelly. 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
Lastly, you may want to think about investing in exterior siding. A new siding on your home will increase the value of your home by about 75 percent. Installing new siding on the outside of your house can boost the curb appeal of your property by about 30 percent, encouraging potential buyers to spend more money!
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.
Visit our website today for more information about improving your home and boosting its value.
