Which Home Improvements Are Worth the Investment? By Zack Bobo Want to put your home on the market but know it needs some updating first? Some renovations can be helpful, while others may steer potential buyers away. With renovations, the goal should always be to make your home more functional and aesthetically pleasing to your prospective buyers without breaking the bank. Here are some home improvement tips that are proven to have the greatest ROI (return on investment): Curb Appeal Updates Just as a prospective buyer would, start with the outside of your home. Curb appeal sells. Surveys show that one of the best ways to spruce up the exterior of your home is to replace your aged and worn front door. After all, it is one of the first things people will see when they come to your house. You can purchase a new steel entry door for around $250. If you want to go a step further, painting your new door with a bright, welcoming color will add to your homes curb appeal. Updating locks and doorknobs are worthy additions to your new door as well. Light landscaping upgrades are also worth the investment. Trim any overgrown shrubbery and add fresh mulch to areas that look bare or worn. Be sure the entry path to your home is clean and clear. Replace any broken or sunken pavers and stones, and do away with any weeds, debris, or clutter. Adding a couple of potted plants or flowers next your door will make the entrance seem more welcoming to house hunters. Recovering the money spent on updates at the time of closing is generally everyones first consideration. Studies show that one of the best improvements with the greatest ROI is replacing garage doors. The study revealed that the cost for an upscale garage door replacement was $3,611, and the estimated value at resale was $3,520. This is a 97.5% ROI, which far surpasses the 66% average for other remodeling projects. Minor Interior Updates An affordable and necessary improvement to your homes interior is a fresh coat of paint. Freshly painted walls are an instant update for any house. When preparing to sell your home, you should always stick to a light, neutral color. Some popular options are gray, white, light beige, or greige. Next, scrutinize your fixtures. Nothing dates a home more than old lighting, ceiling fans, etc. Replacing these items is an excellent and affordable way to give your home an instant face-lift. Kitchen Updates A kitchen truly is the heart of the home. Many buyers will instantly decide whether they love or dislike a house after seeing this room. Kitchen remodels have a huge price range, with minimal remodeling projects starting at a few thousand dollars to mid-range remodels costing more than $25,000. It has been repeatedly proven that minor kitchen updates yield the greatest return when selling your home. First, paint your existing cabinets if they are structurally sound. If your cabinets are damaged or do not function properly, consider replacing cabinet faces. Updating cabinet hardware is absolutely worth the time and money. Another great addition is updated, matching appliances. If your budget allows, granite or quartz countertops and tile backsplashes are an affordable, worthwhile addition to your kitchen. Bathroom Updates After kitchens, bathrooms are a close second in terms of selling points to most home buyers. Minimal improvements such as re-grouting tile; reapplying caulking around tubs, showers, and toilets; and replacing hardware, light fixtures, and mirrors are always smart upgrades to make. Installing a more modern toilet will keep your home from appearing outdated. A slightly more expensive improvement to consider is converting a standard tub into a tile shower, which can cost around $4,000, but studies show you are likely to recoup 85% of the money spent when you sell your home. Energy Efficiency Updates Adding insulation to your attic can be an important update. Many older homes are not well insulated compared to newer homes. This can result in excessively high power bills, which will certainly be a huge negative for potential home buyers. Installing a digital thermostat can also help keep utility costs down. Most modern thermostats can be set to adjust heating and cooling temperatures throughout the day, and some can even be adjusted remotely. If considering a remodel prior to listing your home for sale, its a good idea to consult with a real estate professional for helpful insight and tips regarding your home and its greatest potential value.
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