Renovating your home may help increase its market value. However, not all remodeling jobs offer the same type of return. If you don't do your research ahead of time, you could spend thousands of dollars on improvements that buyers simply won't pay for. What are some of the best improvements that you can make to you home to increase its value?
Add New Windows and Siding
Adding new windows or putting new siding on a house can help protect it against the elements. You will notice fewer drafts and less water seeping in through the windows or through the exterior of the home. Making these improvements may also reduce the odds that your home will be overrun by pests.
Put a Fireplace in the Living Room
Fireplaces are both nice to look at and play a key role in keeping your home comfortable. Buyers will love that they have a place where the family can come together to play games, read books or just spend quality time together. Buyers will also appreciate the fact that they have an easy way to stay warm during the winter without the need to turn up the thermostat.
Finish Your Attic or Basement
If you talk to a realtor before you choose to make improvements to your home, they will tell you that finishing an attic or basement offers the best return on investment. Some realtors, like Liz Carter & Team Realty Inc., know that you get additional square footage that you can list when you go to sell the property. As most homes are priced by the square foot, this could translate into tens of thousands of dollars in extra revenue when you sell your property. Furthermore, finishing a basement or attic allows you to show beautiful pictures to sellers who may be convinced to buy your home the second that they see them.
Upgrade the Bathroom or Kitchen
The bathroom and kitchen are two of the most important rooms in any home. Therefore, they should be on the top of your list to update when the time comes to update your house. Heated floors in a bathroom and stainless steel appliances in a kitchen are two ways that you can renovate with ROI in mind.
Making updates to a home can be a great way to both increase its value and make it better suited to your needs. By focusing on improvements that buyers are willing to pay more for, you stand a better chance of making some or all of your upfront investment back when you sell the property.