If you’re considering selling your home, making some updates will certainly add value. But which ones should you make and why? When it comes to home improvements, there are a couple factors you’ll want to consider: what are the most appealing to home buyers and cost vs return on investment.
In this post we’ll explore what home improvements add the most value to your home.
What Home Improvements Add the Most Value: Our Shortlist
Kitchen Remodel (Within Reason)
An updated kitchen adds the most value to your home. Generally speaking, buyers typically scrutinize the kitchen floor plan most when determining the value of a home and whether or not the sellers asking price is within reason. Since most buyers are looking for an upgraded kitchen, it behoves the seller to make sure the kitchen is appealing. However, a full kitchen remodel costs BIG money, and may not be able to increase your home value to eclipse your investment. However, there are some upgrades that should be considered. These include modernizing cabinets, upgrading appliances, updating a sink or faucet, and new flooring. Although an investment, these upgrades are nominal in comparison to a full kitchen upgrade.
Garage Door Replacement (No…Seriously)
Not the biggest crowd stopper on our list, but replacing your current garage door with a modern model can yield huge returns. Modern garage doors are made of steel and/or aluminum and are typically insulated which reduce energy costs. One study suggests, that having a modern garage door recoups 98.3% of its costs upon selling, making it truly a wise investment.
Adding a Deck
Let’s face it, within the last year, people are spending a lot more time at home and a lot more time outdoors. From hot tubs to large screen TVs, people are investing on brining more amenities into their homes for daily use. With that said, adding a deck to your home can yield as much as an 83% return on your investment. Most builders recommend a 16×20 foot deck; however, this obviously depends on the size of your home. Nevertheless, one thing most realtors and builders agree upon alike is that if you choose to add a deck that you highly consider adding a wooden deck over a composite deck. Composite decks and patio generally have a smaller return on investment.
It is estimated that the average return at resale on a bathroom renovation is 93%; thus, any investment you make into updating your bathrooms is wise. Speak with a design build construction firm to find out what options you have. If you want to keep it low key, start at the bottom and work your way up. Update old flooring, fresh paint & caulk, and new, modern fixtures. These can go a long way! Ultimately what you’re trying to achieve is a clean, modern look that looks very well kept and move-in ready for the buyer.
Need some assistance selling your home? Contact a realtor for Zukin Realty. For over 52 years, Zukin Realty has been West Chester’s premier real estate agency. With agents that are certified and specialize in home staging, you know your home is in good hands.