Top 10 Ways to Improve Your Home’s Resale Value

1

Paint or Vinyl Siding

Improving the appearance of your home can pay off more than the actual cost of the improvement. New paint and siding can greatly improve the curb appeal of your home, making it much more likely that buyers will be interested in looking at the place. Enhancing your curb appeal can also give the impression that the house is well-maintained. New siding can be a significant investment, but buyers appreciate knowing that it’s an expense they won’t have to deal with for a while. If you can’t afford to install new siding or paint, consider making an investment of time into improving your landscaping.  Mowing the grass and trimming back shrubs costs virtually nothing, and it can improve the appearance of your home by a lot.

2

Garage Door

While this may seem like a relatively minor thing, garage doors can pay back at least 87% of their installation cost when it comes time to sell your home. That’s why investing in a higher-end door can be a good choice if you have to replace your door anyway. In particular, buyers are interested in doors that have windows and those that come with extra insulation. Carriage-style doors are also very popular. Be sure to point out the lower energy costs when it’s time to sell the house.

3

New Flooring

With so much focus on allergens, many people are opting for homes with no carpet. That makes it worth the investment in new wood, vinyl plank, or tile flooring. In fact, it’s estimated that new flooring returns an average of 91% of its installation cost. If you’re thinking of replacing your flooring, spend a lot of time researching your options. It’s possible for flooring to look very similar, but have wildly different price options.  If you’re thinking about selling in the near future, talk to a realtor about what type of flooring will enhance the value of your home the most. Very expensive flooring in a moderately-priced home will do very little to increase its value, while cheap flooring in a more expensive home can actually lower the expected selling price.

4

Insulation

On the surface, it may seem that insulation doesn’t add a lot of value to a home.  After all, buyers seem to be much more interested in the kitchen or bedrooms than what type of foam is in the attic. Good insulation, however, can dramatically lower the energy cost of a home, which is a big selling point in many markets. It also protects the plumbing and wiring in a home, extending the life of these items. Buyers also appreciate the fact that this major construction work is already done, giving them one less thing to worry about. Because of this, higher quality insulation will recoup

5

Painting, Refinishing, and Cleaning

All three of these improvements are relatively low-cost, yet they return their cost or more when it comes time to sell.  Peeling paint and dirt can be serious turn-offs to potential buyers who see these items as taking a lot of effort to fix. With paint, stick to high quality finishes in neutral colors. Buyers need to be able to see their furniture and belongings in your rooms, and a “statement” color can seriously detract from that. Take your time and do it right; uneven lines and brush strokes are just another thing that buyers will have to fix. Cleaning your home is similar, make sure the place looks ready to show. Consider hiring professional cleaners before you start to show the home; it will be a lot easier to maintain the work they do than do it yourself.

6

Roof

This can be an expensive item to replace, but a new roof is estimated to return about 105% of what was spent on it. Because roofs have to be replaced on schedule, the age of a roof is one of the first items that home buyers ask about. Since every roof is rated by how many years it will last, it’s possible to know exactly when an older roof will need to be replaced, and to calculate the value left in a newer roof.  Newer roofs also help to lower insurance costs for potential buyers. This means that many buyers are willing to pay more for a home with a newer roof.  At a particular premium are metal roofs that dramatically lower insurance costs and last for decades.

7

Adding an In-Law Suite

These areas usually include a bathroom, small sitting area, and a kitchenette.  With so many  older Americans wanting to age at home, these suites are becoming very popular among potential buyers.

8

Small Bathroom Remodel

Bathroom remodels that cost less than $5000 tend to return at least that much when it comes time to sell.This price range usually allows homeowners to update sinks and tubs, but typically doesn’t allow

9

Additional Bedrooms

Building an additional bedroom costs between $10,000 and $15,000, and it can return that much or more when it’s time to sell. Be sure to hire an architect can ensure that the addition matches the look of

10

Adding an Outdoor Room

Screen rooms and enclosed lanais are all becoming popular.  Most cost less than $10,000 to install, and they’re a selling feature for home buyers who are looking for additional space to entertain. Focus on creating a space with a lot of natural light.