14 Home Upgrades That Can Boost Your Property Value
To maintain a profitable home that brings in the most money during a sale, we must keep up to date on our furnishings and appliances. Putting money into a well-loved home might come across as exhausting and expensive, but part of owning a home comes with the return investment. You must spend money to earn money. Let’s discuss some home upgrades that will increase the property value.
1. Redo Kitchen
Revamping the space where we spend time cooking or spreading out kids’ homework on the table can greatly increase the home’s value. Kallista suggests a kitchen upgrade can increase the home’s value between $20,000 and $80,000, depending on the amount put into the redo. Kitchen revamps include adding new furniture like a kitchen island, installing new appliances, painting the room a new color, and redoing the countertops, to name a few.
2. Add a Deck
Layer blocks of wood in the backyard for a relaxing hangout space, otherwise known as a deck. Some families add decks to their houses when they install a pool, or they just feel like having a dedicated lounge space away from the bustle of neighbors. Decks are useful in most states, although sunnier states gain more value than colder, northern climates. Therefore, a return value on a deck addition depends on the location. Expect anywhere from 40% to 50% return investment on the outdoor space.
3. Replace Roof
When discussing places to live, the saying, “At least I have a roof over my head,” pops up occasionally. On a base level, that saying means you have somewhere to live. If we dig a little deeper, we find that a roof’s quality affects a home’s price. Roofs protect us from the elements, like rain, snow, sleet, hail, or wind, and sun. Changing from cheaper material to durable, long-lasting material boosts the property value. After installing a new roof, the property value can jump up $15,000.
4. Up the Technology
We live in a technologically advanced world. Self-driving cars stay in their lanes, robots take orders, and homes may rely on technologically sound security systems. Things like smart locks, smart fridges, and smart thermostats no longer live inside sci-fi movies. Other appliances like climate-controlled vents, electronic lights, and app-operated garage systems add around 5% to the property value.
5. Replace Garage Door
Often, the first thing a potential buyer sees is the garage. The holding place for cars and storage juts out of many driveways. So, make sure the door works and is clean. According to a report published in the 2023 Cost vs. Value report by Remodeling by JLC, garage door replacements offer a whopping return investment of 102%.
6. Finish the Basement
Two kinds of basements exist. 1. Any cellar with pipes, plywood, or concrete visible or a simple painted concrete room without visible walls is an unfinished basement. 2. A cellar with flooring, furniture, non exposed pipes, working utilities, and visible walls indicates a finished basement. Finishing a basement can add a 70% to 75% return investment.
7. Paint
A simple way to increase the property value by a few thousand dollars is to paint over years of minor dents, off-colored spots, and patchy paint jobs. Brighten up the house with a fresh batch of paint and give it a spiffy makeover. An article on Zillow breaks down the best paint colors to increase the property value, mentioning the popularity of darker colors as opposed to lighter whites.
8. Replace Windows
A family friend recently received a quote to replace all their horizontal framed windows with a vertical-style frame. The quote reached $50,000, which initially deterred them until they read about the high average return investment of 85%.
9. Replace Doors
Aside from garage doors, a front door serves as one of a house’s first impressions. A bold, sturdy steel door invites homeowners into the home, while a crumbling wooden door might turn away interested buyers. Swapping out the front and back doors averages a return investment of 74.9%.
10. Replace Appliances
No one wants to buy a house with outdated appliances. A house with an old stove, a scratched-up bathtub, and a crumbling floor always loses against the house with bright, new appliances. According to KitchenAid, investing in these new features can increase a home’s value between 3% and 7%.
11. Replace a Sliding Door
We have the front door, the back door, and oftentimes, a sliding door that leads to the outdoors somewhere in a house. Perhaps the sliding door opens up to a deck or a patio behind the house, or you’ve installed a sliding door to prioritize safety, as these doors increase security measures. Inserting or replacing a sliding door gives a return investment between 80% and 88%, depending on the materials used.
12. Remodel Bathroom
Tidy up the washroom with a new toilet, freshly painted walls, new flooring, new lighting, updated plumbing measurements, refurbished cabinets, or a fan. HGTV states a remodeled bathroom yields one of the highest return investments (around 73%) and adds an immense amount of money to a home’s property value.
13. Convert AC Units
I toured an apartment the other day with wall AC units. The landlord quoted the price for the wall unit, yet he mentioned the plan to upgrade the AC to a central AC system, which brought the rent up by $100. For a home, replacing the AC could increase the home value by 5% to 7%, with a return investment of 30%.
14. Add a Room
Have you always dreamed of living in a three-bedroom house instead of the current two-bedroom situation? Or have you always wanted a second bathroom? Tacking on another room in a house drives up the price of the house between 15% and 20%. More space means more people.
Want to Drive Forever? Here Are The 11 Most Reliable Cars To Get
Looking for a car that will last you forever? You’re in the right place! In this article, we’re diving into the 16 most reliable car brands that stand the test of time. We all want a dependable car that won’t leave us stranded.
Want to Drive Forever? Here Are The 11 Most Reliable Cars To Get
The 12 Affordable Items That Everyone Should Stock Away In Their Home
Have you ever considered the simple, inexpensive items that can make a huge difference in your daily life? A few items can be much more helpful than expensive gadgets or appliances. Most of us are unaware of these cheap yet practical items that can make our lives easier. In this article, we will discuss 12 items everyone should have at home. These products are affordable, readily available, and can be used on a daily basis.
The 12 Affordable Items That Everyone Should Stock Away In Their Home
Costly Surprises: 10 Expenses You Didn’t Expect When Selling Your Home!
Selling a house is a big decision, and it can bring a lot of unexpected expenses. You might be ready to pack up and move on, but it’s essential to understand what you’re getting into before you do.
Costly Surprises: 10 Expenses You Didn’t Expect When Selling Your Home!
