The Top 5 Home Improvements That Increase the Value of Your Home
Meta description: The top five home investments based on return on investment are replacing garage doors, installing wood decking, kitchen remodeling, basement remodeling, and replacing the exterior siding.
Many homeowners think that making improvements to their home is a waste of money – a decision that they will never make again. But some improvements can actually increase the value of your home if you plan to sell it.
But that’s not really how it works in practice. If you spend money today, it will increase the value of your home when you sell it. Will sometimes be worth more than the price you paid. Whitney Homes has everything you need to increase the value of your home by making improvements to it.
Here are the top five things you can do to increase the value of your home.
#1: Updated Garage Door
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Buyers understand that garage doors are nothing more than an expensive hassle. They are constantly breaking down, because of all the complicated gears and motors that they contain.
Buyers get carried away when they see a new door in the driveway. They think that buying a new door will mean saving money. Many buyers are thrilled to be able to buy a new garage door as soon as they move in. They are excited to save money by not having to call a repair team out within a month. Installing a new garage door can cost you less than $2,000. In fact, you could get back nearly 100 percent of the money you paid. That means that the real price (if you do wind up selling your home) of a $1,500 door could be as little as $20.
#2: Wood Deck
Decking made from wood or composite materials is becoming increasingly popular. It’s taking market share from traditional patios. Homeowners like being able to entertain guests on a raised platform in their back garden while they view their land. It’s a great idea, and guests really enjoy sitting on the decking in their back gardens, looking over the garden.
But a deck is worth more than just looking good. This is why, like garage doors, a good investment can deliver impressive returns.
What you get back depends on the property you purchase and the location. However, you could get back up to 83 percent.
#3: Kitchen Remodel
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Kitchens are often an attractive feature for buyers when they look at new properties. They either love it or hate it! When buying a new property, buyers typically love the kitchen—or they hate it.
People didn’t think that a huge kitchen remodel was worthwhile; estate agents recommended doing a small refresh when selling a house. Estate agents generally suggest that homeowners save money elsewhere or, at least, that they do a quick renovation.
But new research suggests that some kitchen remodeling may actually be worthwhile. Remodeling magazine found that homeowners could expect to recoup 63 to 82 percent of their costs when they sell their homes.
#4: Remodel The Basement
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Basements don’t get much love from most modern homes. There are many things that make them unattractive, but when you consider the return on your investment, investing in them is a good idea. There are many reasons why basements are unappealing – high radon levels and general murky conditions make them unattractive – except that they could be used for storage.
If you look at return-on-investment statistics, investing in a basement is like investing in a luxury car. A well-finished basement renovation can give you back 75 percent of the money that you invested. That’s not bad.
#5: Exterior Siding
Lastly, you may want to think about investing in exterior siding. A new siding on your home will increase the value of your home by about 75 percent. Installing new siding on the outside of your house can boost the curb appeal of your property by about 30 percent, encouraging potential buyers to spend more money!
The average cost of adding siding to your home is around $12 per square foot. But, the average returns on investments in home improvement projects are around 75 percent.
Visit our website today for more information about improving your home and boosting its value.
