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Thursday, 21 November 2019
Agent Resource Center
Agent Resource Center

Home Improvements: Home Renovations That Actually Pay Off

Written by Posted On Saturday, 14 September 2019 21:15

Thinking of making some home improvements to add value to your home? Make sure to put your money in the right place. Read on to learn where to invest and avoid.

Thinking of doing some home improvements on your property?

Many homeowners remodel their homes to keep it in good shape, beautify their surroundings, and increase the value of their home.

What's important to know is which upgrades deliver more return on investment when it's time to sell. Some home improvements can be expensive and don't make much difference in the bottom line when you list your home for sale.

In this article, you'll discover the best home improvements that give you a better ROI. 

 

Replacing Vinyl Siding

One of the best home improvements to increase the value of your home is replacing vinyl siding. According to Consumer Affairs, putting up new vinyl siding can recoup 85% of its cost.

One of the common mistakes homeowners and investors make is thinking that renovating a kitchen will be more profitable than putting up siding.

The truth is, siding is considered a basic necessity. And even when a home has a beautifully transformed kitchen, if the siding is shabby, the buyers might not get past the front door.

 

Repair the Roof and Windows

Another eyesore buyers might not dismiss is a roof with broken and cracked shingles. They might not be able to notice upfront, but after inspection, it's a major turnoff that could make them cancel the contract.

Even when investors and homeowners agree to take the cost of repairing the roof off of the sale price, buyers often turn it down. Who wants to live with hammering and banging until the roof is repaired?

Another home improvement that matters to buyers is windows. When windows display cracks, are broken or are missing screens, it can dissuade the interested buyer from the sale.

 

The Basics Matter

When basic necessities such as roofs and windows are in need of repair, buyers won't be able to look past a basic necessity like a broken roof. 

The basics are important to buyers. They assume the plumbing works, the windows are in good condition, and the roof doesn't leak. 

 

The 411 on Kitchen Remodels

It's no secret that a beautiful kitchen remodel can increase the selling price and make the home more attractive to buyers. But you need to consider other factors. 

Yes, a home with an open concept kitchen and granite or quartz countertops looks gorgeous. But if you only have one bathroom and the other homes for sale in the neighborhood have two or more, you better install a bathroom.

One way to find this out is to check real estate comparisons. You can do a search on Zillow to learn this information.

 

Best Advice for Bathroom Remodels

An ensuite bathroom with a jet stream tub. A steam shower and brand new his-and-her sinks. These are some of the smartest home improvement projects for your home or investment property.

But keep in mind the value of your property, the value of other homes in the neighborhood, and the growth of the housing market.

If you're in a hurry to sell, and the market isn't moving, a bathroom remodel can't guarantee a quick sale.

But when market conditions are right, a new bathroom can boost the resale value. Just don't expect a 100% return on your investment says San Francisco Home Guides.

 

The Gist of Kitchens and Bathroom Remodeling 

In booming housing markets, putting your money into a bathroom or kitchen remodel is a wise investment. Some of these current markets include Washington, Chicago, DC, San Diego, and Atlanta.

 

Best Projects for a Bathroom Reno

Keep these remodeling considerations in mind when doing a bathroom remodel:

Walk-in showers are the newest trend. People prefer them to a big bathtub that is also a big job to clean.

It makes sense. Most people take showers every day. They don't want to lose square footage on something they don't use that often.

It's best when the space allows room for both. But if you only have room for one, spend the money on adding a walk-in shower if you're concerned about ROI. Opt for a large walk-in shower with a handheld rain shower head.

Or a hot commodity (literally) are floor-to-ceiling steam showers. Guests find these showers in upscale hotels and spas around the world. And having one in your personal bathroom at home is the epitome of luxury.

 

Keep the Charm of An Older Home

But one thing to note: if you live in an older home such as a Victorian, you might want to keep its character and charm intact. 

Stores like Home Depot and other hardware stores sell old-fashioned looking fixtures that would complement a bathroom design in an older home. Or who knows? You may be able to dig up an antique fixture!

 

Best Projects for Kitchen Remodels

When it comes to home improvements in the kitchen, there are a few items to consider when upgrading. First off, all-wood cabinets.

People who prefer modern style and nature-inspired decor will appreciate all-wood kitchen cabinets. Consider leaving them natural with a sealer or staining them to coordinate with the color of the kitchen floor.

Another coveted trend is stone. Both on the floors and the countertops. Today, manufacturers make a wide variety of stone options from granite to quartz to natural stone for kitchens.

Last but not least: appliances and fixtures. Stainless steel makes a popular choice for refrigerators and stoves. A great touch-- add kitchen fixtures and faucets made with the same finish.

 

The Takeaway on Home Improvements that Boost ROI 

Now you know how to spend your money like a boss when you're considering home improvements.

Investing your dollars in the right home remodeling projects can provide many years of delight and a better sale price when it's time to move.

Our website provides news, tips, and educational content for the real estate industry. Explore our blog to read more helpful articles.

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