There are some home improvements that everyone knows won’t increase the value of your home. That indoor saltwater pool, for instance, or installing a rock climbing wall or a built-in karaoke stage. You’ll want to think, not in terms of your own passions in life (come on, you know you’d be belting out “Dancing Queen” on that stage!), but about the kinds of upgrades that any homeowner will appreciate.
It may surprise you which upgrades are most likely to increase the value of your home, putting some money back in your pocket. Here are a few to consider for you your house:
A new garage door: This is a relatively small investment, but it adds up to big curb appeal for your home and gives it an updated, fresh look. You might spend around $1,700, but it averages around $1,345 in resale value.
A minor kitchen upgrade: A full kitchen remodel can be disruptive to your daily life, as well as giving your wallet a pretty mean kick, so think about a minor upgrade instead. A minor kitchen remodel has an average cost of $20,830 and has an average return of $16,699 putting 89.4% back in your pocket.
Manufactured stone veneer: Give the front of your dwelling a new, natural look and see your home’s value increase as a result. Similar to a minor kitchen remodel, adding manufactured stone veneer offers a return of 89.4%.
Siding replacement: You’ll spend an average of $14,518 on new siding, but you’ll recoup 76.4% of the cost when you sell. In addition, new siding will increase the chances that a potential buyer will get out of their car to come and look inside.
New windows: Potential home buyers and appraisers alike are planning to check out your windows, and you’ll enjoy using them until you sell, so think about replacing your windows with new vinyl or wood versions.
Universal design: With baby boomers in retirement years, many home buyers are looking for homes that allow them to age in the comfort of their own space. Adding wheelchair mobility features and handrails for safety provide a recoup rate of 68.4%.
A new roof: A roof provides a 68.8% recoup rate, and it’s another upgrade that encourages potential home buyers to come on in and see what else the home has to offer. Choose a color that will appeal to the most possible tastes and aim for good quality.
Increasing the value of your home should always be included in your planning, whether you have plans to sell soon, or you hope to stay in your house for a while. To find out more upgrades that bring a good return on the investment, contact us at Dani Beyer Real Estate.