We all want to make improvements to our houses every once in a while, but which of these improvements will actually add value to your home? The right improvements will create enjoyment for your family as well as boost marketability (if and when you decide to sell).
Before you make any home improvements, think about which will give you a high Return on Investment (ROI)? ROI is the value added to the property after the cost. This is important because it is possible to lose money by making the wrong upgrades and improvements.
Other important questions to ask yourself before making any home improvements should be:
- How long do I plan to keep my home?
- What do I keep wishing my home had?
- Will these home improvements be attractive to buyers?
- Will these improvements increase the equity in my home?
Start Outside
One project you can start on is your curb appeal, or improvements that deal with the home’s exterior. You don’t need to break the bank to make a good impression on the outside.
A front door replacement or update has a great ROI. Front doors add value and attraction to a home, from the buyer’s perspective. The same goes for garage door replacements.
Still on the topic of curb appeal, it doesn’t take much to spruce up your yard. Get creative! Outdoor entertaining features such as fire pits, bars, outdoor lights, and gathering areas add appeal to your yard. Even pretty plants and/or flowers in just the right spots can turn your yard into something the buyer will covet.
Elaborate fountains or lawn art may be something you love – but if you spend an unreasonable amount of money on them, don’t expect to see that reflected in your home’s value.
Window replacements may be the most efficient use of your improvement budget, as it accounts for one of the highest ROIs. Replacing your windows increases curb appeal, value, and efficiency. This is one of the few home improvements that check all three of those boxes.
Inside Improvements
As for the inside of your home, your kitchen is a great place to start making upgrades that can add value to your home. The common belief is that kitchens and bathrooms sell houses.
A kitchen remodel can include new appliances, cabinets, and/or countertops. Keep in mind what is energy efficient and popular when remodeling your kitchen. Professional grade appliances, stainless steel, and granite countertops will be big sellers when showing off the house.
Simple, streamlined designs are the most appealing. Show your personality with removable items such as wall hangings or dinnerware instead of tile or fixtures. Keep in mind that storage and counter space are two of the most sought after things when it comes to a kitchen.
Keep up with Maintenace
Updates and maintenance, however basic, can add the most value to your home. Don’t forget to keep your paint fresh, fix any leaks or rot in your home, and get rid of any mold you may come across. These chores keep your home in good shape over time until you are ready to sell.
If you have any questions about other home Improvements to Enjoy and Add Value or need help buying/selling a home, let’s schedule a meeting! Contact me and we can work something out!
Diane Waschenko
(914) 447-5847