Home Improvements That Increase Your Home’s Value
Homeowners try to upgrade their home with resale value in mind. However, not all home improvements will yield added value to the property. Which improvements will give you the best return on investment so you can strategize on what to do before you list your house?
Improvements That Will Increase Your Home Value
There are several renovations that will increase the value of your home. Anytime you are adding square footage, bathrooms or bedrooms you will see a definite increase in home value.
Some other examples of projects that yield a return on investment:
• Upgrading flooring
• Putting in newer appliances
• Updating kitchens and bathrooms
While doing these renovations keep these tips in mind:
- To retain value, do not upgrade beyond the price point of your neighborhood.
- Stray away from any upgrades that are very personal. Keep styles neutral and appealing to a variety of tastes.
- Not all renovations are crucial to selling your home. You house does not need to be completely updated in order to list.
Improvements that Don’t Increase Your Home’ Value
There is nothing more frustrating than sinking your hard-earned money into home upgrades and then later learn that it did not increase your home’s value. Thousands of homeowners find themselves in this situation every year. They believe that the $10,000 investment of a new roof and gutters will increase the value of their home, when sadly it doesn’t. Home maintenance is something that is done to keep the house from losing value, however, it does not increase value.
Some examples of improvements that do not necessarily increase home value:
• Replacing a furnace
• Power washing the exterior
• New plumbing system
• New HVAC unit
Although these improvements do not usually result in an increased list price, they are still worthwhile. A home that is properly maintained with updated systems will show better and sell quicker than a home that is not. Additionally, buyers won’t be seeking extra concessions from you to go toward various necessary upgrades.
Let’s talk about it!
Contact me today to talk about your home improvement plans. I am happy to help consult you every step of the way.
Consider which home upgrades will give you the best return on investments and allow your house to show well. As you prepare to sell your house, make a list of the most lucrative upgrades that will appeal to buyers and maintenance that needs to be addressed. A careful plan keeping resale value in mind can help you net the best profit on your home sale.
Let’s talk about the market now in your area, your real estate goals, and whether or not this is a good time for you to list and sell your home. Whether you are considering selling soon - or in the distant future… call, text, or email anytime. I’m always here to help! Thank you,
Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.
www.JensRealty.com / 206-550-1676 / jen@jensrealty.com
More info:
Flooring - Here's a great article about the differences between Vinyl Plank vs Engineered Hardwood Flooring. Which do you prefer? https://floorcritics.com/vinyl-plank-vs-engineered-hardwoo…/
Appliances - Researching your options? Here is a link to Consumer Reports https://www.consumerreports.org/appliances/
