Seven home improvement projects that will add to your home’s value

Home remodeling spending has been on the rise in recent years now that the economy is recovering from the housing market crash. Many homeowners are seeing the value of investing money into their homes to make them easier to sale and to maximize how much they can get for it. Depending on the scope of the remodel, a homeowner might spend tens of thousands of dollars. Some projects make a good return on investment while other projects don’t. Since it’s a shame to invest money into your home that won’t actually raise its value very much, it’s important to think about those projects that have the best return on investment (ROI). Here are seven of them:

 

 

 

• Paint/replace front door. Installing a new front door or even simply repainting it is one of the easiest, least expensive home improvement projects that you can do to add to your home’s value. Not only will it add to your home’s value, but it’s likely to add even more than you spent so you can actually make a profit. A new or repainted front door also creates curb appeal which makes it easier to sell your home.
• Repair/repaint deck. While installing a new deck in your backyard doesn’t get you much of a return on your investment, repairing and repainting an existing one that has seen better days is a sound investment. A deck that’s in bad shape will make your home harder to sell so if you don’t want to invest money into fixing it up, you’re better off tearing it down completely than trying to sell it as is.
• Exterior coat of paint. Unless your home is relatively new and could get by with just a few touch-ups, you should plan on having the entire exterior of your home repainted. Though it might cost you couple thousand dollars or more, you can probably sell your home for more than others on the block that haven’t been freshly painted. Just remember to go with neutral colors which will be the easiest to sell.
• Repair/replace roof. An old, leaky roof is a huge turn off to prospective buyers so patch it up if it’s not too old or replace it if it is. If you’ll be selling soon, don’t worry about spending a lot on a premium roof material, a standard asphalt shingle roof should do fine.
• Power wash the exterior. Perhaps a new coat of paint isn’t necessary if your home is just really dirty. Paying a professional to power wash your home might cost you $1,000 but it will help you sell your home faster and will allow you to get a little more out of it as well.
• Energy efficient window replacement. Prospective buyers love all things energy efficient and that goes for new windows as well. It’s not a must if your windows are in relatively good shape but if they’re very drafty, might as well replace them with something that’s really going to cut heating/cooling costs.
• Update HVAC system. If your HVAC system is outdated, then upgrading to something more modern is going to be a huge selling point. If you don’t want to spend a fortune modernizing your old baseboard radiator system, you can always purchase baseboard radiator covers that snap on to give old radiators a sleeker, more modern look.

Source: Time

 

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