Home improvement projects can increase the value of your home, but they could also devalue your home as well. Buyers typically focus on kitchens, bathrooms, and master suites when purchasing a home. You don’t have to completely remodel to sell or increase the value in your home. You want to keep your costs down to avoid spending so much money that it doesn’t get you any return on investment.
It doesn’t matter if you have a newer home, condo, or maintained a fixer-upper, the key to getting the best return on your investment depends on the home improvements you decided to invest time and money in too. Below are five unexpected home improvements to help increase resale value:
1. Give it More Curb Appeal
Your exterior and landscaping are your chance to make an excellent first impression. The exterior of your home needs to make a prospective buyer want to walk through the front door by making sure the landscape is maintained and that your driveway is maintained. If your driveway is starting to show signs of wear and tear, look into asphalt resurfacing costs to freshen up the exterior of your home. You want to dress up the curb appeal of your home, which can help in increasing the resale value on your property.
2. Going Back to Basics Can Go A Long Way
Sometimes simple updates add the most value to your home, such as fresh paint, fixing roofs that are leaking, replacing wood that rots, and getting rid of any mold you find. These types of updates and maintenance keep your home from deteriorating over time. Potential buyers want to make sure they are purchasing a safe, healthy, and stable home and look to see if a house has been well cared for. Refresh your kitchen and walls by looking at new colors to pain cupboards, a fresh new color can completely change a home, and modern colors can go a long way in updating a kitchen, living room, or bedroom.
3. Creating a New Room
Redesign an existing space in your home to save money, finish a basement, or convert an attic to a bedroom, or add an apartment over a garage, which can be used as rental income. Before removing walls and rafters, it’s essential to think about what potential buyers would use the space for:
- Multipurpose rooms have more appeal to potential buyers
- Attic spaces work well for craft rooms or game rooms, or playrooms for kids
- Second living rooms are usually set up in finished basement, along with extra bedrooms, or games room
4. Establish a More Energy Efficient Home
With a significant focus being on conserving resources, add energy-efficient features to your home can have a high impact on increasing your home value. Things to consider when you are looking at renovations for a more energy-efficient home are double-paned windows, and enhanced attic upgrades, even the addition of LED lightbulbs through the house can help with energy efficiency and help with increasing resale value.
5. Modernizing Exterior Doors
Replace your existing entry door with steel doors, which will increase the resale value on your home because potential buyers appreciate a low maintenance and cold-blocking door. As well as, replacing exterior doors consider replacing your garage door. A new garage door can give your exterior a facelift and increase your return on investment.
One of the most terrible things you could do when it comes to home improvements is starting a project without having and research or significant details in order, such as cost, time, materials, and design, as realistically as possible from start to finish. Even if you are not planning on doing any major renovation projects, it is still wise to set aside money for repair costs. You need to be sure that when you are considering making home improvements, if it something that will increase the value of your home when you decided to sell. The most valuable home renovations are the ones that will increase your home worth and give you a better resale value.