Most everyone knows that renovating bathrooms and kitchens sell homes. Gleaming floors and slabs of attractive granite top the list of what most homeowners want. However, do they rank high enough in terms of providing you the best ROI (return on investment)?
Home remodeling experts offer a bit of insight on how much it costs for the average home renovation and how to boost home equity. Some upgrades are more obvious than others. But, what’s the one sneaky and unexpected upgrade that can give you the most bang for your buck? A new front door tops the list over a new kitchen as well as other obvious upgrades. Here are four sneaky ways to increase the overall value of your home.
1. Go Green
If repairs and maintenance are on your home’s to-do list, put your money where it counts—go green. If your HVAC system is old and worn, invest in a new and more efficient model. Another green upgrade would be installing a new solar-powered water heater that will let you save as much as 85% on your utility bills.
2. New Windows
Nobody wants to face the fact that they need new windows. But, many people are unaware of the huge impact it has on home value since it’s mostly a functional upgrade rather than a visual one. Amazingly though, spending around $10,000 on new windows can yield as much as 80 percent regarding ROI.
3. Install a Security System
Having the ability to illustrate how key sensors protect the windows and doors along with how you use carbon monoxide sensors, smoke detectors, and flood warning systems generates a strong sense of security and safety for many prospective homebuyers and business owners alike. Therefore, these security features such as those from Arpel Security Systems will not only make your home or business much safer, but increase the value of it as well.
4. The Front Door
A new front door is the number one sneaky way to improve your home and add value according to experts. On average, over 96 percent of what you spend on a new door adds value back into to the home. Keep in mind it has to be a quality door that suits the existing architecture of the home as well as aesthetically pleasing to the eye. Better yet, sometimes just repainting the front door in a different high-impact color and updating the hardware can have the same effect as buying a new one, in which case you would likely get a 100-percent-plus return on your investment.
These smart but sneaky upgrades are necessary in order to boost the potential equity in your home. This is especially true if you’re trying to get it market-ready.
About the author: Anica Oaks is a freelance writer and web enthusiast from San Francisco. Read more of her published works here.