While some home upgrades are purely personal, like adding a wine cellar or a Christmas package wrapping room, others will actually help increase the value of your home. The right home upgrade can make all the difference in how much your home is worth. Check out below for some great ideas.
Replace the Windows
Poorly insulated, drafty, or cheap windows can bring down the value of a home like nothing else. Today’s discerning home buyers expect double or triple pane windows with elements like Argon gas, low-e coatings, and all the other elements that make good-quality windows look good and function well. According to money.com, homeowners who replace the windows in their homes get a 73% return on investment when they end up selling their home.
Replace the Roof
A damaged or faulty roof is one of the biggest reasons that homeowners have to hand over money to buyers during the buying process. Inspections frequently turn up issues with cracked shingles, holes, old tiles and all the other roof damage that can put your house at risk. A faulty roof not only makes the outside of the house look bad, but it also raises the risk for damage inside your house.
Do a Minor Bathroom Renovation
Bathroom renos can often take quite a bit of money. If you don’t have a lot of money, you can still do a renovation that not only looks good but offers a great return on your investment. Doing something like replacing old, dingy tile or adding a new bathtub can completely change how the bathroom looks. If your tile floor has seen better days, consider replacing it with high-end vinyl flooring or adding a heating element. With small changes like these, you could see as much as a 100% return on your investment when you sell, making these moves a good choice.
Do a Little Kitchen Reno as Well
The same way that a small bathroom renovation can make a huge difference is the same way that a small kitchen renovation can make a huge difference. Like a bathroom, a full kitchen reno can cost well over $100,000, something that you may or may not have. If you have it, go for it. If you don’t have it, you can still make small changes that will make a huge difference and how your kitchen is perceived by buyers. When we say “small kitchen renovation”, we’re talking about things like replacing the cabinet doors, replacing the apron on a farmhouse sink or redoing your countertops. One of the easiest things that you can do that will make it look like you have a brand new kitchen is to replace your sink and faucet. Simply upgrading those two elements can create a visual transformation that is a sight to behold. Small changes like these can result in a more that 80% return on investment, according to Nerdwallet.
Replace Your Front Door
There’s nothing like a shabby, broken-down front door to negatively influence a potential buyer’s opinion of your home. No matter how good the inside of your house looks, that shabby front door will always be the first impression. The buyer may even go so far as to assume that because the front door is shabby, the rest of the home is secretly shabby, even if it looks good! It’s in your best interest to replace that front door as soon as you can. Buying a good front door will not only make your home look good, but it will give you as much as an 85% return on investment, according to Consumer Affairs.
By following the above home reno tips, you’ll not only be enjoying the way your home looks. You’ll also feel confident that you’ve increased the value of your home as well.