There are two reasons why people consider renovating their homes: either they want to make their houses more suited to their taste, or they want to increase the value of their homes in the resale market. More often than not, these two reasons go in hand in hand.
However, sometimes, the home renovations made to suit the home-owners’ taste do not necessarily increase the resale value but rather decrease it. When considering which home renovations are best suited to increase the resale value of your home, always go for the ones that increase your home’s worth in terms of the general taste of home buyers.
Here are seven such home renovations that will increase your home resale value.
1. Remodeling the Kitchen
Considered the heart of a home, the kitchen is one of the main things that home buyers scrutinize when they want to buy a house. Whether you decide to repaint the kitchen cabinets, replacing old appliances with energy-efficient ones, or fixing the sink, renovating the kitchen will definitely pay off.
However, when remodeling the kitchen, you should not go overboard. For example, making your kitchen deluxe with fancy countertops and oak wooden floors when the rest of your house is not as fancy will decrease the resale value rather than increase it. If you are doing a kitchen remodel and want to sell your house in the next three years, keep your potential buyers in mind.
2. Upgrading the Garage Door
It might seem like a minor renovation, but according to several remodeling magazines, upgrading or replacing your garage door can yield about 91.9 percent in recouped costs. And now, you might wonder what exactly does it mean to upgrade your garage door?
It is simple. Most potential house buyers want a garage that has a modern feel to it. When it comes to garage doors, they want one built with durable materials like steel, aluminum, and most preferably, wood composites.
Upgrading or replacing your garage door with ones made of these materials and then adding performance features like energy-saving glazing or insulation will therefore appeal to most potential buyers and increase the resale value of your home.
3. Adding a Deck
With more people opting to stay at home both for work and for vacations, decks and patios are becoming more desirable features for any home. But it is not just enough that you add any deck to your home. The deck has to be appealing, stylish, and modern to attract potential buyers.
Adding unique features to the deck like built-in seating, multiple stairs, or built-in flower pots can go a long way to make your deck more appealing. Also, because wood is always better when it comes to decks, you should consider building a deck made of wood or composite materials that have a wooden feel to them.
4. Manufactured Stone Exterior
A manufactured stone exterior is a man-made composite material shaped in molds that has the same look as real stone. When installed on the exterior of your home, it can instantly change the old and boring look of your curbs and pavements and instantly increase the value of your home.
And, apart from just increasing the resale value of your home, the manufactured stone exterior has a huge return on your investments. Adding it to a small part of your exterior like the front yard can greatly increase the general appeal of your home.
5. Adding a Bathroom
In Real Estate, the number of bathrooms in a house is one of the important things potential buyers consider when buying a house. Having one or two bathrooms is not enough for most buyers. If your home has one bathroom and you want to resale, you might want to consider adding the number of the bathrooms.
Fortunately, adding extra bathrooms in your house is not as complicated as it seems. First, you need to find an extra or an underutilized room. Then, you should figure out what kind of bathroom you want and if it will fit the amount of space in the extra room. A half-bath needs at least 18 square feet, a full bath 30 square feet, and a bathtub 35 square feet.
Once you have established what kind of bathroom(s) you want to be installed, you might also want to add extra features like rain showers, heated floors, mirror defoggers, or heated towel warmer rails to increase the bathroom appeal and attract more potential buyer.
6. Upgrading the Windows and Sidings
With more people valuing a natural flow of light in their homes, having the old, draft, single-planed windows can be a major downer for most buyers. If you still have those kinds of windows and siding, it is time to upgrade them into more modern ones.
You can do this by either installing energy-efficient windows that reduce your heating and cooling costs or by replacing your windows with low-energy vinyl ones. Also, upgrade your trim so that your siding matches your new windows.
7. Repainting and Fixing the Roof
Repainting the house and fixing the roof are the most basic updates should perhaps start with. These are some of the things potential buyers notice when they are considering buying your house. They reflect on the general state of your house.
You should therefore keep the paint fresh with regular repainting and ensure you check on the state of the roof more often.
When it comes to home renovations, many options might add value to your home. But if you want to have a quick property sale for your home, you should consider small projects that make your home more appealing while at the same time adding character and comfort.