If you’ve owned your home for a long time, or your home is more than ten years old, then there are home improvements you could likely do. However, when selling your home, you need to decide which ones will bring you a good return and which ones will just be throwing money away. Here are six home improvements that buyers not only love but will pay to have in a home.
If your bathrooms are dated, then you might want to consider a mid-range bathroom remodel. This would consist of:
A mid-range remodel of this type will cost around $3,000. Statistics show that you will earn $1.71 for every $1.00 spent on these home improvements as long as you keep the remodel moderate.
Adding fiberglass insulation to the attic is another renovation worth considering. According to 2016 data from Remodeling Magazine, the average investment for insulation is $1200. When a home sells, they get back $1,482, which is a return of 116.9%.
When you add a new front door to the entrance, or simply give it a fresh coat of paint, you will get a 96.6 return on your investment. If you want to go a bit further and invest in stone, you can see a return of almost 93%. Having a beautiful front entrance also enhances the curb appeal, which will help your house sell faster.
Home buyers love a beautiful kitchen. That is why it is important to make your kitchen look as appealing as possible. Despite wanting a new kitchen, a major remodel will not provide much of a return. That is why you should look for small things you can do in the kitchen to make it look more modern. Some things to consider include:
Statistics show that a homeowner will recoup 83.1% of small kitchen home improvements
The cost of an average garage door is about $1650. The return on investment for a new garage door is 91.5%. However, a new garage door also improves curb appeal, which can raise the value of the home and help it sell faster. If you can’t replace the door, consider repainting or restaining it.
The actual cost of engineered siding, on average, is about $14,000. Although it only produces a 78.6% return on investment, once again, it drastically improves curb appeal. Although difficult to put a dollar value on curb appeal, real estate agents know that when a home looks nice from the outside, buyers are more likely to go inside and make an offer.
As you can see, there are some home improvements that pay off. Before you begin renovations, give us a call. We can help you decide which projects make the most sense given your specific market.