Are you thinking about selling your home, but worried about how much it’ll sell for on the market? There’s one sure way to increase your home’s market value: Make a home improvement that counts. Home improvements can be an exciting undertaking with a great return on investment. If, and only if, you carefully consider what improvements your home needs. We have 8 ways for you to boost your home’s value.
#1 Remodel the Kitchen.
If you've ever contemplated remodeling your kitchen, now is the time to get to work. This is one of the most valuable remodels you can make to a home. According to Better Homes & Gardens, upgrading a kitchen can lead to a 52% return when you sell your house.
Before you start, make sure to research how to approach the project. There are plenty of books and resources online that'll help you navigate the steps, and guarantee your hard work doesn't go to waste. The last thing any homeowner wants is for a buyer's inspector to find some major flaw. Here’s how you can avoid that:
- Keep everything up to code.
- Hire a pro for the big jobs (like electrical or plumbing).
- Don’t cut corners. Ever.
#2 Remodel the Bathroom
Remodeling the bathroom is a great DIY project! You can do a lot of the jobs yourself which will help you cut labor costs big time. You can also complete the project in stages, so you don't have to use all your savings at once. If your tub isn't badly damaged or outdated, you can probably get away with these simple upgrades:
- Replacing the flooring.
- Upgrading the fixtures.
- Installing a new vanity cabinet.
This will cost much less than gutting the entire space. The truth is that even major projects are simple enough to do yourself without hiring anyone else. You can enlist the help of YouTube videos and handyman apps to guide you.
#3 Add or Improve Closet Space.
Home buyers are looking for houses that have great storage and closet space! You can make your house more attractive and appealing by either:
- Adding new closet space; or
- Improving existing closet space.
Closet renovations can be made in any part of the home, including existing rooms, hallways, and under stairs. Try to use awkward spaces to your advantage when thinking about where you could install a new closet.
It's always a good idea to plan before you start a major renovation project. Make sure you are not installing new closets where they will block windows or doors, and make sure you consider what type of closet materials work best with your home design scheme.
#4 Install a New Roof.
You’ll never regret installing a new roof if you decide to sell your home later. A new roof protects your home from the elements and will last for many years (when done right, of course). Plus, it can modestly increase the value of your home and save money on your energy bill.
A new roof adds curb appeal to a home and makes it more likely to sell. It's no small investment at around $12,000 to $15,000 to hire someone to install a new one. But, the extra effort and money you spend may be worth it since buyers consider a new roof a major selling point.
#5 Paint the Exterior
This is a simple one! A fresh coat of exterior paint adds curb appeal and makes your home look clean and brand new inside and out. According to homelight.com, painting your home on the outside can increase your return on investment (ROI) by 51%. It's a relatively simple way to upgrade your home and give it a new appeal.
#6 Add New Flooring
New flooring can increase your home's value and make it easier to maintain and clean. Most home buyers prefer hardwood flooring, but we recommend you consider laminate wood flooring or tile because it’s a more cost-effective solution.
Vinyl and linoleum can also be used as alternatives to wood and tile, even though they are less expensive (as low as 50 cents per square foot) because they are durable and easy to clean.
Pro Tip: If you're looking for the best return on investment, choose hardwood flooring.
#7 Finish the Basement
One underrated home improvement worth considering is finishing your basement. If you're lucky enough to have a basement in your home, it's likely an unfinished area. We tend to use our basements as storage space or somewhere to do the laundry.
An option that could prove beneficial would be to finish an unfinished basement into a living space. You can easily add between 200 and 500 square feet to your existing residence, without paying for the expense of adding to the footprint of your home.
#8 Install a Deck
If you're looking to increase the value of your home, a deck is often the best value for your money. Decks are relatively inexpensive to install, though not always easy. For this reason, if you don't have any prior experience with building or construction work, call in some help. However, if you have the skills and comfortability to take on DIY projects, adding a deck yourself is an attainable project. Remember that a good design is key when planning for your new deck addition.
The Bottom Line
It's important to spend your money where it will count when it comes to home improvements. To make a wise investment, choose projects that not only give you the greatest return on your money now, but also when it comes time to sell your home.
Get your home market-ready by hiring UKAN! We talked about giving your kitchen cabinets or closet space a facelift. Our specialty is giving your home a fresh feel by installing new cabinet and cupboard doors. Contact us today!