While there are an almost unlimited number of upgrades and improvements you can do to your home, not all of them will necessarily increase the value of your home. Very few home improvements will actually recoup the total cost of the improvement, but some can come close. In some cases, however, certain some “upgrades” can even decrease the value of your home. Even when upgrades and improvements do not make a change in the monetary value of your home, they can still make your home easier or more difficult to sell. If you’re looking to invest your home improvement dollars in projects that will actually increase the value of your home, there are a number of things to consider.
Increasing the security of your home with upgrades like a steel front door can provide anof anywhere from 86% to 123%. While you’re at it, you can install a new smart lock, which may not increase the resale value, but is a fairly simple and inexpensive feature that can significantly increase the appeal of your home to buyers. Not only can it boost your home’s appeal to buyers, but it can also make home showings far easier when it comes time to sell. Millennials in particular are looking for more connected features in the home and since Millennials will soon account for almost 75% of new home buyers, it’s worthwhile to consider what they are looking for when making and upgrades.
Kitchen and bath remodels can provide one of the biggest ROI’s of all home improvements, but only if they are done well. Avoid the uber expensive high end commercial appliances and stick with mid-grade items instead. Also go for mid-grade materials and try refacing kitchen cabinets instead of a total replacement. Simply replacing bath hardware can give your bath a fresh, modern look, as can replacing your vanity with a pedestal sink.
Another great way to add value to your home is to convert unused space into usable space. This can include finishing a basement, or turning an attic into a bedroom. These upgrades only provide a good ROI if they are up to code, however, so if you’re going to do them, be sure they are done right.
Don’t forget about the landscaping in the front and backyard. You caneasily with a nice display of flowers and shrubbery and a freshly mowed lawn. A little work goes a long way when it comes to cleaning up planter beds and in the backyard such as broken sprinkler heads.
There are a number of different systems in your home that keep it operating smoothly and provide safe shelter. These include things like the HVAC system, plumbing and electrical, septic and even the roof, siding or gutters. While a new master bath might be more appealing to you,are more concerned with how long the roof is going to last than they are with how great the soaking tub looks. Before you sink money into luxury upgrades, be sure that all the less sexy maintenance is done and all the basic systems are up to snuff. A home buyer is far more likely to be interested in a home with a new roof and an outdated bath then they are a home with a leaky roof and a shiny new .