Choosing the best home improvements for resale is not easy. The upgrades that are important for you may not appeal to buyers or increase the ROI of your house. So, what to do?
In today’s article, we will talk about home renovations to increase home value.
First, let us start with the most important question: ‘Is it better to sell a house as it is or fix it up?’ The answer in most cases is ‘Yes.’ There are buyers who hunt for a fixer-upper. However, even those buyers look for a house with good structural elements.
Therefore, even if you skip cosmetic upgrades, a house with a great structure will have a better resale.
Now, let us get to the main topic and talk about the best home improvements for resale.
Is it worth updating the kitchen to sell a house?
Is it worth renovating the bathroom before selling it?
How do you know what renovations have the best resale value?
Research. Take a look at the market around you.
Real estate is local. To make a decision look at what’s in trend around you.
What are the other houses (for sale) in the area offering?
For instance, if the houses next to you are offering a fully upgraded kitchen, then that’s what you must focus on.
We know… a kitchen upgrade is a big project, and you must be wondering which projects to start. This is where the stats come in. A little research will reveal invaluable data to help you choose the home renovations to increase home value.
For instance, major expensive kitchen remodeling pays 59 percent. While minor kitchen upgrades pay 81 percent in resale.
This is confusing, we hear you. We have rounded a list of the best home improvements for resale for you. With each option, there is an ROI value (from remodeling.hw.net) to give you an idea. The values may vary with time and place.
Best Home Improvements for Resale & Better ROI
1. Upgrading the Exterior of Your House
(More than 90% ROI)
There are a lot of changes in the real estate market, but there is something that stays the same. And, that is the curb appeal of your house.
No one will be interested in viewing a house if they don’t like how it looks from inside. So, upgrading the exterior of your house is very important.
There are a few things that you can do:
- Paint the exterior of the house. A fresh coat of paint can uplift the look of your house. 1 gallon paint usually covers 400 sq. ft.
- The next thing is to get a new garage door. It pays around 98%.
- The entry door plays an important role in appealing a buyer. Replace your existing door with a great quality steel door. (91%)
- Add manufactured stone veneer can also add value to your house. (97%)
2. Roof Replacement
(68.4% ROI)
If your house is more than a decade old, and your roof needs a replacement, it is better to do it now. We cannot tell you how many times we walked away from a house just because the idea of replacing a roof was so unwelcoming.
Roof replacement, therefore, is an essential improvement and is very important for the resale of your house.
It not only increases the cost you recover but also increases the chances of your property selling fast.
3. Kitchen Upgrade
(98.5% ROI)
A kitchen is probably the most important place that buyers look at. However, a kitchen may need major to minor upgrades.
So, here is what you can do. Upgrade your kitchen and make the necessary cosmetic changes.
- The kitchen cabinets set the mood of the whole kitchen. Give your kitchen cabinets a new look by refacing or repainting kitchen cabinets. This is a trend that has a universal appeal (and demand). So, replacing cabinet doors in New York is as important as refacing kitchen cabinet doors Orlando.
- Changing an old sink and fixtures can also be a great improvement for the house.
- If the appliances in your kitchen are too outdated, you should replace them to give your kitchen a whole new look.
- Paint and change lights to give your kitchen a bright look. If you have a kitchen island, adding chandelier lights on top of it can be a great upgrade.
Nothing appeals to buyers more than upgraded appliances. A few cosmetic fixes and upgrades can give your kitchen a trendy, updated look.
4.Bathroom Renovation
(102% ROI)
When upgrading a bathroom, you can go as crazy as you like. People love luxurious bathrooms. But instead of doing major upgrades, you can make your bathroom look great with budget bathroom upgrades.
Before you start, take a look at your bathroom. If it looks too old, you must start by removing any signs of damage.
- Change wall colors, remove and treat any damages.
- Upgrade bathroom fixtures.
- Replace bathroom cabinets.
- Add new lights.
- Upgrade your vanity and sink.
- If the toilet looks okay, replace the seat.
- Re-caulk your bathtub.
Upgrading the bathroom is one of the best home improvements for resale. If you do it smartly, you can make sure that buyers will love it.
5. Hardwood Flooring
(91% ROI)
If your house has carpet on the ground floor, it can be a profiting investment to upgrade the flooring.
Hardwood floors can be a great addition to your house. It is so in the trend that most buyers will prefer a house with hardwood flooring.
For resale especially, new hardwood flooring has a great recoup.
6. HVAC Replacement
(71% ROI)
Honestly, we haven’t met a buyer who doesn’t ask about the HVAC.
Most buyers will ask the dates your HVAC was installed. If you replaced it a few years ago, then you can skip this step.
Otherwise, replacing an HVAC and getting a tankless water heater should be on your list of home renovations to increase home value.
(90% ROI)
Another home improvement project to hook your buyers is to give them a surprise space. You know that basement you thought you will upgrade, now is the time to do that.
The same is true for the attic. Convert your basement into a guest suite. Adding a bathroom will give you a more than 50% ROI. Or, you can make it a living room or a family room.
Likewise, upgrade your attic into an extra bedroom.
Wrapping up…
To get the maximum profit on your house, you should get the best home improvements for resale. Trends come and go. What appealed you as a buyer years ago may no longer be in trend.
Therefore, getting home renovations to increase home value will help you generate more profit. And, who knows, once you upgrade, you will fall in love with your house again!
So, what home improvements do you plan to do for your house? We will love hearing your picks.