A lot of home improvement projects do not add value to your house especially when the market is down. In fact, there are projects that can reduce the asking price. Conversely, there are projects that can enhance the value of your property.
In here, you will learn which projects you should invest in. See the tips below; to learn the home improvement projects that can enhance the value of your home.
1. Indoor Systems
Prepare your home for buyers by repairing and improving major systems like the heater and cooler. Make all the necessary upgrades, replacements or repairs on all the major systems before doing other improvements. Other major systems include plumbing, heating, sewer and electrical systems, etc. Older homes may need big improvement on their plumbing and wirings. In addition, old roofing should be replaced with new ones.
Buyers will make sure that these systems are in great working condition by using a home inspector. They do not wish to go through the trouble of spending money on repairs and replacements in the near future.
2. Remodelling the Kitchen
As most people see the kitchen as the heart of the home, improvement on this area often pays off. You can get a huge return of investment on kitchen remodelling alone but make sure not to go overboard. Never make your kitchen more attractive than the rest of your house.
3. Additional Bathroom
There are buyers who consider the kitchen the focal point when choosing a home, and there are buyers who consider the bathroom as more essential. As this is the case, adding a bathroom or even just a tiny bathroom, can add value to your home according to experts at National Association of Home Builders or NAHB.
If your home only has one bathroom, then you can get back a huge part of your investment by adding another one. To find the right area to build your extra bathroom, take a look at any extra rooms or less used spaces in your home. You can use the spaces where your closets are located or spaces under the stairs. A full bathroom with a shower or bathtub would require at least 35 square feet, while a half bath room would require at least 18 square feet.
4. Adding Energy-Efficient Windows
A lot of buyers prefer homes that are energy efficient. Many get discouraged with homes having old single-pane windows. Making your home energy efficient, will make buyers think that buying your home will allow them to save money in the long run.
5. Boost Curb Appeal
Curb appeal is what attracts potential buyers to go inside your home. Ignoring the importance of enhancing curb appeal is a mistake many home sellers make. If you have enough budget, and your landscaping needs a lot of work, then consider getting professionals to do landscaping.
If you do not want to spend a lot on curb appeal then you can just remove debris, trim shrubs and trees. Take note, a bad curb appeal can result to a significant drop in the value of your home.
6. Basic Updates
The basic updates are the ones that can add the highest value to your home. Make sure to apply fresh paint, repair the roof, replace rooting wood walls and fences, and remove any dirt that you find. These basic updates can prevent deterioration on your home. Buyers prefer safe, healthy and solid homes and they will make an effort to find signs that the home is not properly maintained.
Regularly replace the electric wiring, repaint the exterior and interior and replace the plumbing in your home. These projects can keep your home in tip-top shape so when you decide to sell your home, buyers will see the efforts made in maintaining it.
A very important thing to remember when it comes to any home improvement project is not to overspend and go overboard. Partially, the value of your home is determined by the value of similar homes in your neighbourhood, so make sure that you do not make improvements that will make your home’s value highly over the average value of the similar homes in your area.
