Which Home Improvements Actually Pay Off?
When it comes the time to sell your home, there are at least dozens of things that need to be taken into account in order to get the best price possible. Among others, one of the biggest dilemmas every home owner has is whether they should sell the house as it is or invest in home improvement and increase the value of the property. And it turns out to be rightfully so since not all home improvements have a positive investment/price increase ratio. Therefore, before you decide on a particular home improvement, check which of them actually pay off.
Now, the kitchen is an area where practically any improvement has a potential of adding value to your home. However, the most expensive improvements do not necessarily have the best return on investment ratio. Having this in mind, work on a tight budget and concentrate on areas such as replacing dated appliances, updating cabinet hardware and countertops, as well as refreshing the walls and making sure everything in the kitchen is presentable and fully functional. Having a kitchen like that will not go unnoticed by any of the potential buyers.
Improving energy efficiency
Energy efficiency is one of the major topics in housing these days. And it will continue to be so, being among top ten environmental issues. Depending on the area you live in and the target customer group, energy efficiency improvements range from adding new or improving the existing insulation to air sealing and installing solar cells. Insulation improvements will benefit all homes and add value, while more complex improvements such as solar collectors and living walls are more suitable for upper middle and high class environments in order to actually pay off.
The bathroom is right next to the kitchen when it comes to making an impression on the potential buyers. And, just like it is the case with the kitchen, everything needs to be perfectly functional and representative. If your tub, toilet and sink are such, replacing them with a more modern version does not guarantee it will pay off in the end. Instead, focus on more cosmetic improvements such as improving the vanity surface and replacing faucets, shower heads and tiles. These changes will be clearly visible, make your bathroom shine and make an impression.
If you are blessed with having a front yard, you are among those home owners that can immediately impress the visitors. As we all know it, making a good first impression often proves to be essential when the desired price and actual sale are concerned. This means that your front yard deserves all the attention it can get. Start by making sure you keep it in perfect shape at all times. Next, having a roofed sitting area will be a great addition, universally appreciated by all buyers. Flower beds are always welcomed and do not require too much investment. Finally, a perfectly trimmed lawn is a sure win. All these improvements will demand more work than financials. But, rest assured they will be well worth the effort.
Adding space is surely something that will add value, as well. However, adding a completely new room will take more than it will provide. Repurposing is the right answer. Turning your basement and/or attic into a dedicated room is something all respectable home builders advocate. Having an extra bedroom will move your house to a higher category, while dedicated entertainment rooms, studies or guest rooms will surely be appreciated by anyone looking for a new home. Plus, you will get to use them in the meantime, which is a pure bonus altogether.
House entrance and facade
To continue the positive impact you made with the front yard, the entrance and facade need to be exemplary, too. If there are any surface, structural or functional issues, resolve them first. Then, move on to applying a fresh layer of paint, making sure the colors you use create a compact atmosphere. A neutral palette is always the most universally appealing choice. Lastly, investing in the front door and window hardware that radiates elegance and class will always add value.
To sum up, home improvements do pay off as long as you do not break the bank regarding your budget, which depends on the expected price range for the property and the target group of potential buyers. On top of that, having an improved property will make your life more pleasant while you still reside there.