Thinking about making home improvements? Which improvements can give you the best return on investment? Which are the most desired by potential buyers and what is the market looking for? Here are some key home improvements that will provide value to your home and give you the highest return of investment.
Home Improvement # 1 – Replace your garage door
Your curb appeal is a big attraction to buyers when looking for a home. A new garage door practically pays for itself as soon as its replaced. With so many options out there for garage door upgrades, as long as you reuse the existing motorized opener, you can recoup your cost right away. Not only is it a good financial investment, it also gives your home a well needed face lift.
Home Improvement # 2 – Kitchen & Bathroom Fixtures
One of the quickest, most inexpensive upgrades that make a huge impact on buyers is replacing the fixtures in the kitchen and in the bathrooms. Replacing new drawer knobs, pulls, and facets in a matching style, can really increase the value of your home. Try brushed nickel and matted type stainless steel for a contemporary-style or a bronze if you have more of a classic style home.
Home Improvement # 3 – Open up your floor plan
Opening up your floor plan by knocking out a wall creates a spacious inviting home to live in. It also helps creates additional natural light which every buyer is looking for. In 2020 and the future, the open concept floor plan is every home owners and investors dream. But before you go knocking down walls, talk to a certified contractor to make sure the structural support of your home is intact.
Home Improvement # 4 – Touch up your exterior paint
If you are able to paint the entire house go for it, if its not in your budget, then touch ups around the exterior can make a big difference. Touch up any chips or spots that are visible and pressure wash the home to remove any dirt or grime. Make sure you paint the trim of your home and focus your attention around the front door. The first impression of your home from a buyer or a guest perspective is very important. Have a strong paint game!
Home Improvement # 5 – Redo the Roof
According the NAR redoing your roof is one of the strongest ways to have a ROI for your home. In the top three major concerns when a buyer is looking for a home is the roof. Find a licensed roofer and replace your roof if it is showing signs of decay. Texas trends are showing that the age of the roof and the quality of it, is major deciding factor with buyers.
Home Improvement # 6 – Improve your window game
Getting energy efficient windows can really improve the value in your home. Upgrade to home energy star rated windows as they are one of the most wanted features by millennials a.k.a. future & present buyers. When a home has older windows, it ages the property by many years. Triple pane insulated glass or low insulated glass are highly desired amongst investors and are enjoyable to look out.
Home Improvement # 7 - Installing a smart thermostat
With modern day technology taking hold, upgraded tech homes are hitting the market in record numbers. One way to increase your home value, without breaking the bank, is installing a smart thermostat. Not only is it energy efficient for your cooling and heating system but the programmable thermostat is becoming expected with new home owners.
Home Improvement # 8 – Upgrades in the bathroom
With 90% of guests visiting your bathroom at least once during a visit, upgraded bathrooms have strong appeal to most people. Replace the old toilets and low flow fixtures with new ones. Not only are they energy efficient but they use less water which saves you money. Buyer trends also show that people prefer walk-in showers over bathtubs. Upgrade your shower and bathroom and see the investment return to you tenfold.
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