Home Improvement Projects that will Increase the Value of Your Home
It may seem easy to put your home on the market as-is. However, it can be very beneficial to perform some simple home improvement projects before doing so. While some houses may require renovations in order to sell, others may not need them, but will still benefit from an update. When considering home renovations, it is important to think about which will add the most value for a potential buyer. These are the home improvements with the highest ROI.
1. HOME IMPROVEMENT IN THE KITCHEN
The kitchen is often one of the first rooms a home buyer will see. Thus, it is important to have a good first impression. While a full kitchen remodel can be costly, there are simple improvements anyone can make to increase the home’s appeal. Something as simple as changing out the cabinet pulls for more modern ones can change the appearance of the whole kitchen, and make it look more contemporary. Additionally, simply painting or staining the kitchen cabinets another color can significantly update a kitchen at a minimal cost. All of this can be done without replacing significant portions of the kitchen. This includes entire cabinetry, expensive appliances, and intricate backsplashes.
Another upgrade that can add a lot of value to the kitchen is installing new granite countertops. Granite is a huge selling point with consumers, comes in a number of styles, and ranges in price from $40 to $100 per square foot. To put the cost into perspective, the average granite counter costs about $3,500 to install while an entire kitchen remodel usually costs over $20,000.
2. SIMPLE CHANGES TO THE BATHROOM
Another easy area to completely overhaul with simple changes is the bathroom. Changing out a colored toilet and counter for a neutral one can completely modernize a bathroom space. A shower or bathtub made of acrylic can easily be refinished match any changes you make to the bathroom. Cabinetry and countertops can be interchangeably switched out, and a standalone kitchen sink or toilet can be upgraded if it needs to be. A bathroom remodel is a simple way to help the house feel both modern, clean, and well taken care of.
3. MAKING SPACE
If you are selling your home, the last thing you is for it to feel cluttered and claustrophobic. Making space in your home is a very easy way to make every space feel more appealing and open. Getting rid of excess decorations, furniture, and other items in the home opens it up. It can also help to give the buyer the impression that rooms are larger than they are. Additionally, knocking down a wall between two spaces is a great way to open the whole floor of the house. Open floor plan kitchens have become extremely popular, and can increase the value of a home by a noticeable amount.
4. ADDING A FRESH COAT OF PAINT
Changing the coat of paint in a room can transform the entire look and feel of it. Repainting a dark room with a light color can completely open it up. Like wise, changing sterile white walls to be a softer tone can make it feel more cozy. As homes age, colors often go out of style. A fresh coat of paint can help an outdated room feel fresh and modern. Plus, bold-colored rooms may not sit with some buyers. If you have rooms in your house that stand-out, it is a good idea to paint them a neutral color. This is so that you do not deter prospective purchasers with bold color choices. In addition, putting a fresh coat of paint or staining just the moldings in a room can help the house appear to be younger and cleaner than ever before.
5. FLOORING HOMING IMPROVEMENT TIPS
One easy way to improve your home is to make changes to the flooring and carpeting. The most simple and inexpensive way to do this is to purchase new area rugs throughout your home. Additionally, a quick gloss over fading hardwood flooring can restore years of shine. While all-new flooring can be costly, fixing worn areas can help restore the house, and make the flooring look brand new. Removing stained carpeting, scratched hardwood, and cracked tile can help the home not only look fresh, but well taken care of. It is also smart to replace outdated flooring in rooms, like old kitchen tiles, either with new ones or a form of laminate or hardwood. If the entire house has a form of outdated or worn flooring, it may be smart to redo it all, as a potential buyer may see this as a distasteful or costly entry to homeownership.
6. REPLACING PORTIONS OF SIDING
While most people will spend the majority of their time on the inside of their home, exterior appearance is also very important. Nobody wants to live in a home that looks run-down, dilapidated, or not well-kept. As a home ages, siding tends to fade and come unbuttoned from the rest of the house. Rather than replacing the siding on the entire house, replacing worn or fading portions can help keep appearances without reducing profit. Another home improvement recommendation is simply power-washing the side of the house can make the color of the siding pop, and reduce the appearance of aging on the house.
7. REDOING THE ENTRY-WAY
The very first impression of any home is the front entry-way. It sets the tone for the rest of the home, whether it is bold and large, glass, or a classic wooden style. The average ROI for an entry-way redo is very high at about 80.3%, making it a very popular way to quickly refurbish your home. At an average cost of $1,800, a new front steel or wooden door can accent your home perfectly, and add a great deal of curb appeal. By adding a new door it is possible to draw in buyers both in-person and online.
Specializing in luxury properties and condominiums, John T. Wanninger is a professional in Minnesota real estate, notably his dealings with Edina real estate. Wanninger leads the JTW Partners group at Lake Sotheby’s International Realty.
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