Thinking in the long run, we sometimes put off home improvement projects because we may think it won’t pay off and it will just be money spent without any return. In this article, you can read about some amazing projects you can do in your home that you will love and that will improve the value of your home, resulting in a worthwhile return and attracting more buyers when the time comes.
Attic Renovation
Haven’t we all dreamed of an amazing attic for our homes? We’d use it as relaxing retreat, a reading nook, or a stunning guest bedroom. Don’t be afraid to make it happen: renovating the attic is one of the projects that brings a high return later. If you’re looking for a smaller project, you could simply invest in fiberglass attic insulation: according to Remodeling Magazine’s 2016 data, the renovation can bring you more than 100% return on the investment. The recoup is around $1,482 on a $1,200 investment (national average), meaning a 116.9% return.
Entry Door Replacement
The front door is the first thing a person notices when entering a new house, and it’s no different for buyers. A worn or shabby door, one that is old with a bad painting job, or that just needs a few repairs, will create a bad first impression and it can easily make the potential buyer think less of the house. Updating the front door is one of the projects that can bring the highest return, according to U.S. News - up to 96.6% - and steel and fiberglass doors are the best options, according to Remodeling Magazine.
Garage Door Replacement
Following the same idea of the entry door, a working and good-looking garage door can make a great first impression. If you can replace the door, it will bring you a great return when selling the house, but if you’re not keen on making that investment, you can choose to get a good paint job to cover all those little stains and nicks, and it will draw in more buyers.
Bathroom Remodel
The bathrooms and the kitchen are the first rooms a buyer pays attention to in a house, and according to HGTV, it’s a sure-fire investment, often returning 100% of the cost (if not more). A mid-range remodel in the bathroom is the best choice - spending around $3,000 to replace the toilet, light fixtures and maybe add a new or double sink.
Minor Kitchen Updates
Alongside with bathroom remodel, updating the kitchen is one of the best home improvements you can make: investing in these rooms (although it can be more expensive) is more likely to pay for itself later. You don’t need to do a full redesign on the kitchen though: making minor updates such as painting, refinishing surfaces, and upgrading appliances, can do wonders. This “face-lift” will bring you a high return and will, without a doubt, make your house sell faster, since the kitchen is high on the priority list of most potential buyers.
Exterior Siding
Updating the exterior siding of your house is another home improvement that can bring you a high return. Even though it may not be a fun project to embark on, it may be difference between selling your house or watch it sit in the market for a year (while still paying mortgage). Another interesting idea to draw in more buyers and sell the house much faster is by adding manufactured stone veneer on the exposed foundation. Another option is to dress up the foundation by adding a few layers of siding which, besides looking incredible, can get you up to a 92.9% return according to Remodeling Magazine.
The key to spending less is spending it wisely, my father used to say, and there’s nothing better than making that money return later on. Thinking from a buyer’s perspective, it’s preferable to spend more and buy a house that is already in a great shape instead of buying a cheaper one with an attached $30k repair bill to it, having to go through a tiring renovation process just after moving. Analyze your area and your neighborhood, don’t follow trends that can soon change, and go for neutral colors and good quality materials. This way, you will improve the value of your house and see your investment return later.
Are you planning on selling your house in 2017? What repairs or updates are you going to make? Let us know in the comments below and don’t forget to check our Articles Page and Facebook page for more tips and ideas!
