The American housing market is finally picking up some steam. There are many new buyers entering the market.
If you plan on selling your home in the near future, you are probably wondering: Which upgrades will deliver the biggest ROI? What will sell my house above the asking price? How can I sell my home quickly?
Luckily, you don’t have to add a whole new wing to your house to boost its value. A few small upgrades here and there can double the value of your home. Here are some of the best improvements you can make to add significant value to your property:
Your old, single-paned windows can cause a variety of issues. They may look nice, but their charm comes at a cost. They are extremely inefficient insulators, which translates to a higher-cost for air conditioning in the summer and higher heating costs during the winter.
On top of allowing heat to easily pass through, old windows don’t do a good job of muffling sound. If you live in a high traffic area, or have a barking dog in your yard, this can be an issue. Homeowners are usually used to this, so they don’t mind, but potential buyers will certainly notice it.
The best thing to do would be to swap your old windows with ones that have an Energy Star rating. New windows can add significant value to your home, yet they are an affordable and cost-efficient upgrade.
According to the U.S. Department of Energy, you can reduce heat loss through windows by up to 50% just by installing storm windows. If you want to see what type of windows will work best for your climate and geography, check out this Efficient Windows Collective’s rundown.
The kitchen is the heart of every home, so it’s no news that a kitchen upgrade can double the value of your property. But, you don’t have to go crazy for it to work. You don’t need a commercial-grade gas stove or a $3,000 vent to impress potential buyers.
Most homeowners appreciate the simpler pleasures: contemporary cabinet finishes, decent quality appliances, and, naturally, a good layout. Just a minor kitchen remodel can recoup 81.1% of the initial cost, according to this 2018 Cost vs Value Report.
So, instead of splurging all of your savings on a new kitchen, you can update the cabin faces, put in an energy-efficient fridge, and replace the faucet and sink. But, if you are really adamant about doing a major kitchen remodel, make sure to consider the local market, home value, and your budget.
Easy upgrades such as updated hardware or a new toilet can add value to your home, but why not go a step further? The average home buyer is in search of a bathroom that evokes an indulging experience.
The bathroom has become an experiential space; we don’t see it just as a utilitarian corner of a house anymore. The best way to tap into this new trend is to install a steam shower. A house that has a steam shower can sell for up to 30.7 % above the expected price, according to Zillow.
Refinish or Install Hardwood Floors
A durable and beautiful hardwood floor will stand up to heavy abuse and foot traffic for decades, while adding rich tones to the décor and improving the looks of the interior. Hardwood floors are popular among homebuyers because they are durable, gorgeous, and easy to clean.
But, if you already have a hardwood floor, it is a good idea to spruce it up a bit before you put your house up for sale. Refinished hardwood floors can recoup 100% of their cost, according to the National Association of Realtors.
Add a Patio or Deck
Due to the ongoing coronavirus pandemic and worldwide lockdowns, staycations are becoming increasingly popular. Outdoor living areas are already a big perk, and they will become even more desirable.
One of the best and most unique ways to make your yard more inviting is to add a patio or deck to it. The average national cost of a yard patio is around $54,100. As seen in the 2018 Cost vs Value Report, you can recoup 82.8% of the cost after a deck addition.
Fancy railings, built-in seatings, new deck paint, pendant lights, or spotlights can really go far. Outdoor heaters are generally inexpensive and they can really cozy up your patio.
When pairing homebuyers with the right home, the number of bedrooms is key. A bit of extra room is always appreciated, especially among families. According to Zillow’s 2018 consumer housing trend reports, 63% of homebuyers are interested in having a guest or spare room.
Remodeled basements can be very attractive to potential buyers. To add a magical extra room to your home, you can convert an under-loved or unused area of your home into an attractive living space.
If you already have enough bedrooms in your home, you can style an extra room as a cozy home theater, crafting area, or a game room. The more versatile your home is, the more appealing it will be to potential buyers.
Kevin has gone through an extensive home renovation with his son, which he has both
thoroughly enjoyed, and dreaded every morning. He is now the proud owner of half his dream house (the other half has been waiting for spring). You can read more of Kevin’s work on PlainHelp.