Remodeling your home is a serious undertaking. However, when you are looking to remodel to help your chances of selling, this brings in just another level of complexity. Homeowners are facing higher interest rates for buyers, meaning there are fewer buyers than in the previous couple of years. With that said, it is important that homeowners choose wisely what they do to their homes. They need to understand what to do to get the most out of it. Particular renovations pack a more powerful punch than others. But what ones would that be? We thought it was important to go over the various renovations to see the best investment before placing your home on the market.
Home Upgrades
When it comes to giving your home the upgrades that it needs, you want to go with projects that you can recoup the most cost with when looking to improve your home’s value. These are things such as a garage door replacement or a minor kitchen remodel. These two things have a 91% and 71% ROI. (1) Other remodeling projects you should consider are vinyl window replacement, a deck addition, and adding a steel entry door. (1) These small items carry more than a 50% ROI.
While those are great suggestions, there are certainly other places that you can look to add more value to your home. Refinishing your hardwood floors is one of them. It is said that if you were to refinish your hardwood flooring, you could be looking at a 147% ROI. (2)That’s right. You actually will make more money by redoing your floors before you place the home up for sale. Furthermore, if you install new wood flooring, you could be looking at a 118% ROI. (2) That’s not too shabby.
Kitchen Remodels and the ROI
If you plan to stay in your home for some time, you might want to consider a kitchen remodel. While a kitchen remodels will not get you 100% or more back on your investment, it does certainly help move the property should you ever want to sell down the road. In fact, 58% of people who purchase a home do so because they love the kitchen. (3) While you are not going to get the most ROI from your kitchen, it will certainly help sell your home down the road. Furthermore, while you still are living in the home, you can enjoy your kitchen just that much more.
Things to Do with the Exterior of your Home
We have been focusing on the home’s inside home, but the curb appeal and exterior are other places that you can certainly cash in. Pressure washing the exterior of your home is something that is simple enough that even a homeowner could attempt. This will give the home a nice clean new look and can bring in 40-110% ROI, which is not too shabby. You could take this one step further and repaint the home’s exterior of the home. This will also bring in an excellent ROI of 60-100%. (4) This is something that many homeowners don’t think about when looking at ways to improve the value of their homes. While what you do on the inside is important, it is just as important to take care of the exterior as well.
Another quick pick me up is giving the front door some love. The front door is one of the first things people notice when they drive up to the home. Be sure that it is clean and presentable. You might even want to hire a pro to install a new door that has a better overall look for the style of your home. A new door can bring as much as 80-140% ROI. (4)
Roof Repairs
Maybe the roof isn’t actually leaking. But, there are some discolored tiles, and it looks dingy and dirty. This can be a turnoff for some home buyers. Roofs can be professionally cleaned with a pressure washer, and in some cases, that’s all that is needed. However, if it is at the end of its lifespan, it might make more sense to replace it. This can be costly, but it will pay out in the long run as it is said there is a 50-100% ROI for a new roof. (4) Furthermore, if you plan to stay in the home for any length of time, a new roof can give you peace of mind that you have nothing to worry about for years to come.
Attic Bedroom Conversion
Do you have attic space that isn’t being utilized to its highest potential? This is an area where you can get quite a bit of ROI. In fact, it’s looking to be around 93%. (5) Having space that isn’t properly utilized can turn off potential buyers. Take the time to look at your home and see if you have a three-season porch or attic space that could be transformed into s of living space.
Call Exceptional Exteriors and Renovations
When it comes to renovating your home in a manner that makes sense for selling later, we can help. We have worked with homeowners and real estate investors to transform their homes into something amazing. With all the work that you put in, you should expect a healthy payout in return. From small projects such as replacing a garage door or entry door to a complete kitchen renovation, Exceptional Exteriors and Renovations is happy to help.
When it comes to adding value to your home, not all renovations are created equal. If you are looking to improve the home’s value so that you can sell in the near or distant future, we can help. We understand the differences in the ROIs for the various renovations. We will take the time to discuss the different areas of interest you might have and help guide you on ways that will improve the value without breaking the bank.
Whether you are looking for ideas or have ideas of what you’d like to do, you can count on Exceptional Exteriors and Renovations to help. Our team of experts has been providing quality renovations for over 25 years. Contact us today to find out more.
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