Ready to improve your home but worried about investing money in investments that may never return? Here are some home improvements that experts say will pay off now and in the future:
1. Kitchen and bathroom remodeling
Kitchen and bathroom remodeling is a sound investment that often returns more than 100 percent of the cost. People spend a significant amount of time in kitchens and bathrooms, so you want them to be attractive and calming to you and future buyers. Buyers are beginning to expect updated kitchens and baths now more than ever. Upgrades to consider include: hardwood or tile flooring, granite countertops, new or upgraded cabinets, and stainless steel appliances. For the master bathroom, floor-to-ceiling showers are a hot commodity (literally). Sleek walk-in showers have replaced jetted tubs on shoppers’ wish lists, so if you have to choose one or the other, go with the shower. Keep in mind that if your home only has one bathroom, the improvement you’ll want to make is to add an additional bathroom. While buyers are still delighted with older homes that may only have one bathroom, functionality and practicality may be a concern. If you have a three- or four-bedroom home with one bathroom, adding a second bathroom will certainly be worth your while. For cheaper upgrades, try adding a tile backsplash, upgrading light fixtures, or replacing cabinet hardware and faucets.
2. Home maintenance
While not the most glamorous of home improvements, this is one of the most important. Buyers won’t be thrilled with their beautiful new kitchen if there’s a musty smell coming from the basement or the siding is rotting. One of the top priorities should be making sure your home is structurally sound inside and out. Essential home maintenance projects include repairing the roof, replacing siding, and fixing foundation water leaks, just to name a few.
3. Curb Appeal
Before you can get buyers in to see your interior upgrades, your home must be attractive on the outside. Updates can range from simple, like removing weeds, to more complex, like building a front porch to add interest and charm. You may also consider planting shrubs and flowers, power washing your driveway, painting the exterior, or adding walkways and extra parking space. If you have an outdoor space (deck, patio, or porch), arrange the area with comfortable seating and dining furniture. In short, your exterior should convey a welcoming feeling.
4. Paint
Paint is an affordable home improvement that can refresh any home. Paint makes a home look and feel younger and better cared for. When selecting paint colors, go toward warmer, more neutral tones to appeal to a broader range of buyers. Try textured or faux paint in a central space like the dining room for a distinctive and unique touch.
5. Add extra living space
According to a study by the National Association of Realtors, every 1,000 square feet added to a home can increase the sales price by 30 percent. This can include adding a sunroom, bathroom, attic bedroom, or even a deck for outdoor living and entertaining space. Or if your home has a foundation, you can take advantage of an entire additional living level. Basements are ideal for game rooms, guest suites, bars, or game areas. For some of the trendiest high-end real estate markets, there is a demand for the luxury of home theaters, wine cellars, and yoga rooms, but be sure to consider your real estate market and neighborhood before embarking on one of these upgrades.
6. Floors
The floor is one of the first things a prospective homebuyer will see (and feel underfoot). The most requested flooring option is hardwood flooring, which is a proven resale value booster. A classic like red oak is always a good choice, while trends are also moving towards exotic woods like bamboo and wider plank flooring. If you already have hardwood, restoring your floors is a great way to bring them back to their shine and shine. Tile is also a popular flooring solution for bathrooms, kitchens, mudrooms, and laundry rooms, and should replace any existing vinyl flooring. Lastly, the softness and comfort of rugs or rugs is perfect for bedrooms and play areas. If new flooring isn’t within the budget, be sure to clean your carpets before you put your home on the market.
When considering all your home improvements, be sure to keep a few key factors in mind. What you’ll get for your investment depends on how soon you sell after making improvements, the value of your home, the value of homes in your neighborhood, the real estate market you live in, and the quality of the project itself.
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