Want to make home renovations that increase the value of your property? You’re certainly not the first person who needed a little guidance in this area. And you certainly won’t be the last. Thankfully, boosting your home’s value isn’t as difficult as you might assume. In fact, it’s pretty cut and dry. Up next, we’ll uncover three relatively easy ways to make your living space worth more money.
1) Get a new garage door
As home renovations that increase the value go, few are more worthwhile than replacing a problematic garage door. All things considered, new garage doors are relatively cheap, costing just under $4,000 on average. But when it comes time to sell your house, having an up-to-date, fully operational garage door will increase your home’s resale value tremendously. The average Return on Investment (ROI) for a new garage door is 93.8%. So, at this rate, if you spent exactly $4,000 on the door, your home’s value would increase by $7,752. The difference between what you paid for the door and the increase in value would be $3,752, which is your ROI. Sound good to you?
2) Remodel your bathroom
This renovation is a bit more involved than replacing a garage door, but the added value it gives your home makes it so worth it. Let’s be honest: If there’s one room in the house where you’re bound to spend at least some time every single day, it’s the bathroom. So why not have it looking as fresh and trendy as possible? Start by painting the bathroom and replacing the cabinets and then add some accessories such as new mirrors and light fixtures. By the time you’re done, the bathroom will look as good as new. And, the best part of all – if you’re planning to sell – is that your ROI is likely be somewhere in the neighborhood of 60%.
3) Replace some windows
Simply put: Windows aren’t cheap to replace. So, if you really want to impress a prospective homebuyer, it’s nice to be able to show them that the windows in the house are relatively new. This way, the thought of having to replace windows not long after move-in doesn’t deter them from moving forward on a purchase. Of course, if you want to get the biggest bang for your buck, though, try windows that are energy-efficient. Sure, they might cost a bit more on the front end, but you’ll reap the benefit when it comes time to sell. This is likely to be particularly true if your homebuyer is fairly young. Millennials, especially, tend to prefer homes that are eco-friendly. So the more eco-friendly your abode, the better your ROI. When it comes to replacing windows, the average ROI is just under 70%. Not bad. Not bad at all.
Now that we’ve looked at three home renovations that increase the value of a property, are you ready for an upgrade? Perhaps you have some questions you would like to get answered before you begin your home improvement project. Contact us and let us know what’s on your mind. We would be happy to speak with you and share some additional renovation ideas. We look forward to connecting when you’re ready. And we hope that is soon!