Top Home Renovations that will help increase the price of your Home!
Selling your home can be a daunting process, and deciding what renovations to undertake to get the best return on investment can be a challenge. Choosing between upgrading your furnace or redoing your kitchen, gutting your bathroom or adding another one, or replacing your roof or buying new appliances can be confusing. On the other hand, minor inexpensive upgrades that make a significant difference in your home’s value may be more desirable.
Here are some of the best renovations that you can undertake to prepare your home for the market:
Painting is a simple, fast, and affordable way to make your home more attractive to buyers. A fresh coat of paint in neutral colors can add more than 100% of the cost to the list price of your home.
Replacing your garage doors can give your home a much-needed facelift and increase its curb appeal, making it more attractive to potential buyers. With a 98% return, this simple upgrade can give you the most bang for your buck.
A simple upgrade to your entry door, again in neutral colors, can have a significant impact on a potential buyer’s first impression of your home. With a 91% return, it is a smart and affordable way to make your home more attractive.
Additional Square Footage:
Adding an additional room or two is an effective way to make your home more appealing to buyers, particularly if it is on the smaller side. According to a 2005 study by the National Association of Realtors, every 1,000 square feet added to a home increased its sale price by 30% or more. You can expect a 70% to 80% return on investment for this renovation.
Most families want multiple bathrooms, so adding an additional bathroom is often a wise investment. If your home has one less bathroom than the average home in your area, this can be a deterrent to potential buyers. This renovation typically has a 60% return on investment.
Minor Kitchen Remodel:
A minor kitchen remodel can be an effective way to update your kitchen and make it more appealing to buyers without breaking the bank. With an 81% return on investment, updating countertops, cabinets, flooring, and fixtures can make a significant difference in the sale price of your home.
Women love beautiful kitchens and bathrooms, so remodeling your bathroom can be a smart investment. Although adding a bathroom might make more sense, remodeling the ones that need it most might be more affordable. This renovation typically has a 70% return on investment.
A new roof can add value to your home by providing buyers with the assurance that your home is in good condition. While this renovation has a lower return on investment of around 68%, a worn-out or leaking roof can deter buyers and make your home sit on the market for a long time.
Adding a Deck:
A deck can add valuable outdoor living space to your home, making it more attractive to buyers. If you don’t have a deck already, adding one can give you a return on investment of around 70%.
these renovations can help you get the most out of your home sale. It’s essential to consider your budget and research the renovations that will give you the highest return on investment. By investing in the right renovations, you can make your home more attractive to buyers, sell it faster, and maximize your profits.
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