4 Home Improvements With High Return on Investment
Popular features that many home buyers look for in a home include a modern kitchen, at least two bathrooms, a back yard deck, and an attached garage. Depending on how old a house is and how many times it's been modernized, home improvements could make a big difference before selling a house. Making the following improvements can boost your home's value while also helping it sell faster.
A kitchen remodel makes a house that is already in good condition look that much better. Modern home buyers look for kitchens with open layouts, stone or engineered stone countertops, and natural wood cabinets. Home buyers also look for features like energy-efficient appliances.
Homeowners who are unable to afford a major kitchen remodel can still update the look of their existing kitchen by painting the walls, refinishing the cabinets, or making another cosmetic change that can make their kitchen look new and well-maintained.
Many home buyers like outdoor spaces that are good for entertaining. Deck installation is a high-ROI home improvement because it's relatively low cost and high value.
Homeowners who would like to maximize how much money their deck installation is worth can do so by using relatively low-cost materials (standard pressure-treated wood instead of engineered wood, for example). It's important to work with a contractor who will install the deck properly and to code. If the deck is not permitted or installed to code, it could reduce the home's value when the time comes to sell.
Homes with one bathroom were common decades ago, but modern homes almost always have two or more bathrooms. If a home has only one bathroom, it will appeal to a much smaller range of buyers and may take longer to sell.
Adding even a half bathroom can help with resale value. It's important for homeowners to work with contractors to make the bathroom installation as low-cost as possible while still ensuring the installation is high quality. To achieve this, homeowners may put the bathroom in a location where plumbing already exists, like in a closet near a laundry room. This is a less-expensive option than adding a new room on to the house and will require less plumbing.
Attached Garage Installation
A detached garage can be an inconvenience for homeowners, so many home buyers look first for homes that have attached garages. Homeowners with an unattached garage without power should consider converting that garage into a shed and then installing an attached garage to their house, if possible. Garage installation can be costly, but it can also pay off. Installing a modern garage can increase a home's value by as much as $20,000.
Work With a Reputable Contractor
Working with a reputable contractor is important for any home improvement. To find the right contractor, check their license and references. Meet with all contractors in person and sign a contract to ensure everyone is on the same page. Following these tips, you should be able to have a successful home improvement project that increases your home's value.