Wednesday, August 12, 2020 / by Jenny Carroll
Contributed by Matt Lee
Are you thinking about selling your house? If you’re like most people, your goal is to sell your house for the highest price possible. The most straightforward way to do that is to focus on doing projects that increase your home’s value.
There are several renovations and remodeling projects out there, so it can be challenging to know which projects are worth your effort. Some investments don’t payout in the long run. However, there are several that have been proven to increase property value every single time.
What are those projects? Let’s take a look at all the ways you can increase your home’s value before you sell it.
Inside the House
Several projects inside the house can go a long way towards boosting your home’s value and make it much easier to sell. Here are some of the top projects for inside the home:
Revamp the Kitchen and Bathroom –. Most realtors will tell you that people either sign the dotted line or pass, because of the kitchen and bathrooms. So, if you do nothing else, be sure to revamp these two rooms. To make these rooms shine, upgrade the countertops to a material like quartz. There are numerous quartz counter colors, so it’s a breeze to fit quartz into any motif. Redo the cabinets and go with wood for the material. Then, if possible, upgrade the sinks, showers, and baths, too.
Go with Hardwood Floors – Ninety percent of realtors surveyed say that homes with hardwood floors sell faster than those with any other flooring type! So, consider upgrading your flooring to hardwood. If you already have wood flooring, make sure it’s in top shape. Repair any broken boards and give it a good polish before listing.
Add Aging in Place Modifications – “Aging in place” homes have become a massive trend in the real estate market. More seniors hope to age in their homes rather than having to move into a retirement community, so consider adding modifications that would allow a senior to age comfortably in your home. These include things like adding lowes handrails for outdoor steps, choosing easier to open doorknobs, lowering cabinet heights, choosing rocker plate light switches, and installing non-slip flooring into wet rooms.
Add More Square Footage – The value of a home is often calculated based on square footage. It’s a simple math equation. If you add square footage, the value of your home increases. You can add a second floor, increase the size of the kitchen or laundry room, or even add a mother-in-law suite. Just be sure to get any permits before you add additional square footage.
Outside the House
Just like inside the home, there are several projects outside the home that can contribute to your property value. Here are some tried-and-true projects to increase your home’s ticket price:
Redo The Roof – If you haven’t redone your roof in a while, consider putting this fix on the list. A new roof can help you close the deal. Plus, new roofs can boost value by around $12,000. You can do this for relatively cheap, too. Go with composite shingles, and you can give your home’s exterior a facelift without having to spend a fortune.
Upgrade the Siding – The siding impacts the overall look of your home’s exterior. If your siding is in a poor state, consider upgrading it. Siding upgrades can be costly, but they have a fantastic ROI. On average, redoing the siding provides an average ROI of 84.3%. In other words, you can expect to recoup 84.3% of what you spend on the siding in the sale of your home. There are several siding material options, so you can find one that fits within your budget.
Put Some Attention on the Backyard – Backyards have always been a hot commodity. However, now they’ve moved from the “would be nice” list and entered into the “must-have” list for many home buyers. If you have a backyard, be sure to put some attention into it. Consider adding a porch, landscaping, and making the backyard a place where prospective buyers can see themselves relaxing and entertaining.
Boost the Curb Appeal – Look at your house from the curb. How does it look? If your home isn’t immediately appealing, then you need to put some attention into boosting the curb appeal. Landscape, get a new garage door, redo your gravel driveway, paint the front door a bold color, add interesting light fixtures. Ultimately, do whatever you need to do to ensure that people don’t put your house in the “no pile” before they’ve even walked inside.
Get the Most for Your House
Take the time to increase your home’s value before you list it. While it might seem like a lot of work, it will pay off for you in the long run. Set a budget and stay focused on projects that will help you sell your property quickly and for the most money possible.
The above projects are all proven ways to increase the value of your home. Take inventory of which projects your house needs, and get started!
Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.