Did you know that 65% of U.S. homeowners believe the value of their home will continue to rise over the next 10 years?
Do you feel like you’re part of that 65%?
If not, then it might be time to make improvements to increase the value of your home.
But some improvements are more valuable than others. So it’s important you understand where to focus your efforts.
Make Improvements with the Highest Return on Investment
There are certain things potential buyers are looking for, and certain things they’d rather avoid.
We’ll take a look at five “fixes” that’ll actually add value to your home:
1. Upgrade the Kitchen
An upgrade doesn’t necessarily mean a complete remodel though.
If you have an older Arts & Crafts style home, for instance, buyers may be turned off by a sleek and modernized new kitchen. So choose carefully.
You could even do a mini-remodel. Change the paint color. Put in a new backsplash. Switch out the really old appliances for something newer.
And if space allows, consider a rolling island to add some pizazz.
2. Make Your Home Smarter
More and more buyers are interested in safety-enhancing technology in their homes.
This can be anything from thermostats, fire detectors, and carbon monoxide detectors, to security cameras, door locks, and lighting features.
Even if they don’t add value, they will add appeal.
And because you can usually install these devices yourself for less than $1,000, there’s a solid return on investment.
3. Add a Bathroom
This is particularly pertinent if you only have one bathroom.
If it seems like too much of an expense, you should know that you can recoup a large part if not ALL of your investment by adding a bathroom.
Don’t have the money upfront?
Consider taking out a loan through builder financing. It will be well worth it since the return on investment is so strong.
4. Boost Your Curb Appeal
The way your home looks from the street is the equivalent of making a good first impression.
If your home doesn’t look welcoming on the outside, buyers are less likely to want to come inside.
Similar to the idea of upgrading your kitchen though, be careful not to take on a huge landscaping makeover. A highly manicured landscape means extra maintenance for a potential buyer.
So just be sure your landscaping looks well-maintained. Plant some flowers to add some color. Or maybe give your front door a fresh coat of paint.
5. Add a Deck
With people taking fewer vacations and opting instead for staycations, buyers are embracing outdoor living spaces now more than ever.
So adding a deck is one of the remodel/addition options that has a huge return on investment. And that’s a good thing – given the high cost of building a deck.
But when the time comes to sell your house, it’ll be a worthwhile asset. And at least you can enjoy it in the meantime!
Make Your House Shine
When it comes to increasing the value of your home, you want to make improvements that will be worth your time, effort and money. We hope the above tips helped clarify some of those for you.
And if you’re looking for more great information on topics relating to your house and home, keep checking back with us. We’re always adding new information.