Want to increase the value of your home? These 5 upgrades can increase your resale price
For one particular San Antonio family, making great strides on their 3,100-square-foot home, built in the 1970’s, is to be expected in today’s market.
Over the years, this family has refinanced several times and remodeled with a number of improvements.
The family bought their “forever home” in the 1990’s, and have completed several renovations, including a $ 125,000 master suite addition which was an extension to the family room, new stucco outside the home, and new windows. The couple, who live on a street full of custom homes, also added a $ 95,000 swimming pool and land renovation. They also renovated the office, bathroom, and living room for $ 45,000.
Earlier this year, Zonda Media released its 2021 expenditure compared to Value Report, citing the trend of external improvement projects that offer the highest return on investment (ROI). In addition to the small kitchen renovations, outdoor home renovations represent 11 of the top 12 earnings. Significantly, the placement of the veneer stones, the display of the stones, and the installation of the garage doors raise the list price.
Whether you have just closed your home, are planning to sell, or intend to stay longer, here are some improvements that bring high profits to your investment.
1. Curb Appeal
The fate of most homes for sale is determined by the walk from the car to the front door. Take time and money to make the exterior inviting.
Enhance your floral design with bright flowers, a variety of shrubs, and clean walkways. If you do not do this, buyers will be move on to the next house for sale.
Green grass, healthy grass, and the right combination of flower beds returns an estimated 267% of the cost of upkeep at the time of sale.
2. Replace the garage doors
When homeowners are looking for paid projects, experts say new garage doors are raising the listing price.
The new $500 garage door can add $5,000 to your sales price in the right place.
Home buyers notice a broken garage door. The installation of the garage door restored its value by 93.8%, according to Cost vs. Value report.
3. Upgrade the kitchen
This is the center of the house where families cook, eat, gather and share. A renovated kitchen can add up to $ 100,000 to the value of a home. Owners can expect to return 72.2% of their investment in kitchen renovations, according to Cost vs. Value report.
4. Replace the siding
Another way to keep your home warm in winter and cool in summer is to install siding.
“The exterior of your home is important to keep the hot air out from the summer and cold and rainy in the winter.
Siding replacement also reduces energy costs, which has a significant impact on the value of a home when you decide to sell it. The report shows both fiber cement, 69.4%, and vinyl siding, 68.3%, retain their maximum value.
5. Redesign the bathroom
The refinement of any kind is intimidating, especially when it comes to toilets, the sanctuary of the house which should include form, functionality, and luxury touches.
Think of white, chrome or nickel-style tiles, shower and white bathtub, and well-functioning toilets and new plumbing. A renovated bathroom can add up to $ 50,000 to the value of your home with a dream renovation with high-quality additions. The upscale bath remodel is home to 54.8% of homeowners’ sales price, the report said.
Making the necessary improvements at home pays off in the end.
Consider adding value to your home as a savings account. The more you improve, the more likely you are to save money, and hopefully make a profit.