If you’re selling your home, it is a smart idea to renovate a few rooms. You need to do the renovations and upgrades that are likely to appeal to your potential buyers. This means avoiding “lipstick” and mascara fixes that cover up major problems with the house.
1. Renovations That Add The Most Value To Your Home
Here are some relatively small home improvements that will immediately increase the value of your home even if you don’t have the budget for larger remodeling projects.
Although outdoor structures such as decks, fire pits, and swimming pools can add a lot to the enjoyment and usable space of our homes, do they really increase our home’s resale value?
Yes, in some cases. Others, however, will not. Due to the high cost of construction and maintenance, it is unlikely that you will ever be able to recoup your investment in, for example, a new pool or garage.
Fences: A new fence can increase privacy and keep your children safe. You can also increase curb appeal by installing a fence. It can also have a positive effect on your home’s value.
Deck: Although a deck isn’t a cheap investment it can pay off. Your home buyer will feel like the home has more space then it actually does. You can expect to see up to 80% of the cost of the deck in the home’s new value, depending on its size and scope, and a big increase in the appeal of the home to potential buyers.
Fire Pit: A fire pit is a great way to make your yard more usable in cooler months. A fire pit is inexpensive, and potential buyers can wee the benefit from this.
Swimming pool: Although pools can be great for entertaining guests and enjoying the outdoors, there won’t be a financial return once you consider all the costs associated with maintaining them. If you are looking to increase your property’s value, it is not worth the effort.
A Complete Bathroom Remodel
The most popular home improvements are kitchen and bathroom renovations. You can expect to return 75% of your investment. You can get a lot for your money by replacing an old vanity, plumbing, and lighting fixtures, or installing a tile floor. This will give your bathroom a modern, updated look.
You will need to change the flooring, vanity, bathtub, and toilet if you’re considering a complete bathroom remodel. You can make your home more energy-efficient by making updates that will improve its resale value.
Replacing Old Windows
The appearance of your home can be improved by installing new windows. Additionally, replacing old windows with more energy-efficient ones can help homeowners save significant money on heating and cooling. Potential buyers can be turned off by drafty windows.
Attic insulation can save you money and reduce your monthly energy costs. Potential home buyers will find this attractive. They will flag any ice dams when they approach your home.
There are many options for insulation materials. However, whether you use batt, blown in insulation, foam board or spray foam, it is important to have enough R-Value or insulating value to prevent cool air from entering.
How can you tell if it’s time to replace your roof? Look up. Are your shingles curled, bent, or missing? This is a sign that it’s time for re-shingling.
2. Budget Friendly Renovations That Pack A Big Punch
Consider solar panels
Although buyers may be reluctant to have solar panels installed, they will be more attracted to homes with them already installed. Solar panels are a great way to get your utilities costs under control. They let you produce your own electricity, and reduce your energy bills considerably. Less well-known are solar hot water systems. These systems can be very effective in reducing your natural gas consumption. They can make all the hot water you need around the house, and can even be used for home heating. Of course, the more sun shine you have, the more effective a solar panel system will be. However, even at mid-latitudes like Chicago, solar panels can be a worthwhile home renovation investment that will pay off while you own your home, and attract buyers when the home is put up for sale.
Smart Home Technology
Smart devices include smart locks, smart thermostats, smart thermostats, and water leak detectors. This is a simple upgrade, and market research shows that home buyers want smart devices in their homes for energy management, security and convenience.
One home upgrade that is relatively inexpensive and has great benefits is installing a smart thermostat. A smart thermostat improves the efficiency of your AC and since your AC accounts for the majority of your energy costs it can significantly lower your Peoples Gas utility bill.
3. Tips On Sticking To Your Home Renovation Budget
Bathrooms, kitchens, and decks are the biggest investments in your home. If you do your job right, you will get your money back.Kitchen remodeling is one of the most important upgrades you can make to increase your home’s value. Learn more about Upgrading your Kitchen to Increase Your Home’s Value.