As you prepare to sell your home, you may want to complete a bunch of home improvements in hopes of increasing your home’s list price. However, not all improvement projects are worth the time and investment. For example, while you may feel that the addition of a luxury master suite will create a real estate bidding war, it’s essential to remove personal opinions from the home improvement equation.
Resources, like Remodeling Magazine’s 2020 Cost vs. Value Value-adding home improvement data can provide vital information to ensure your home improvement projects deliver a significant return on investment. Remodeling Magazine’s report compares 22 projects in more than 100 US markets to detail the average cost of the job and the project’s overall sale value. You should be aware that the cost of work compared to cost recovered can vary significantly across the country (may vary by country). region and by city).
To help you cut through the confusion so you can focus your time and resources on the right projects, we’ve created this top five list on how to increase home value.
Top 5 Most Valuable Home Improvements
Think about the first impression potential homebuyers see when they visit your home. Enhancing your curb appeal with stone cladding helps your home stand out from others on the market. The name can be misleading as the stone cladding is not a natural stone. Stone cladding is made from “fake” stone. According to cultured stonea leading manufacturer of stone veneers with over 50 years in the industry, manufactured stone veneers often costs a third to a half what natural stone does for the same project. When the the manufactured stone is installed correctlysellers can expect an impressive return on investment at a 95% overall national average.
The national projected overall cost of adding stone veneer to the home improvement list is $9,357, with a recovered cost of $8,943. This translates to a 95.6% return on investment.
Experts do not recommend that you try a DIY stone cladding project as it incorrect installation can lead to water damage inside the home and the possibility of mold growth.
To inspire you, Pinterest has examples of stone cladding for all types, sizes and styles of home.
Not all garage doors are the same. While garage doors can be considered utilitarian, an upgraded garage door is a great example of home improvements that add value. What does the exterior of your home convey to potential buyers? Is it a cookie-cutter replica of all the other houses in your neighborhood? Updating your garage door adds character to help your home stand out from the competition.
the approximate cost to replace a 16-foot-by-7-foot garage door and rails with a striking new door with glass windows in the top panel, galvanized steel hardware, and a lifetime warranty is estimated at $3,695 with a resale value of $3,491. The result? A national average of 94.5% recovered cost.
While it may be tempting to save by choosing to do some home improvements, you should leave garage door installation to the professionals. If you opt to try removing your existing garage doors and installing your new and improved set of doors, investigate whether the warranty is voided on new garage door installations on your own.
Garage doors can add personality to your homefrom artisan and farmhouse styles to minimalist looks.
The kitchen is the heart of the house. When choosing home improvements, many homeowners gravitate toward kitchen upgrades. However, there are levels of investment in a kitchen remodel and, unfortunately, some may not be worth it. Major projects like adding a gourmet kitchen with custom cabinetry, commercial-grade appliances, and new flooring only provide a 53.9% average return on investment. In contrast, an estimated return on investment for a minor kitchen remodel in the US it is 77.6%.
Smaller, more manageable kitchen remodels will provide a greater payoff. Cosmetic upgrades like painting the walls, trim, trim, and ceiling are inexpensive upgrades. Opt for kitchen cabinet resurfacing and new hardware instead of an expensive complete teardown. Replacing old appliances with energy-efficient models is another selling point that will be a boon to prospective homebuyers.
Take to the Internet for remodeling inspiration and advice.
Four. Replace your liner
Old, shabby siding can make a bad first impression. The good news is that both vinyl and fiber cement siding replacement provide solid cost-value. based on Remodeling Magazine’s 2020 Cost vs. Value study, a fiber cement siding replacement will cost more than vinyl, but the return on investment will be slightly higher. Leave siding removal and replacement to the professionals, especially for two- and three-story homes.
High-density fiber cement productsalso know as Hardie Sheathingare sustainable, non-combustible, resistant to mold and mildew, and provide an average of 77.6% cost versus value return on investment. Fiber cement siding is five times thicker than vinyl siding. By comparison, vinyl siding, a lightweight plastic compound, provides a 74.7% average return on investment. While vinyl siding is easy to install, inexpensive, and requires little maintenance, it’s important to consider the plastic materials in vinyl siding. emit harmful chemicals.
the average job becauset for a Hardie board fee is $17,008. Vinyl siding replacement costs about $14,359, on average.
Once you’ve decided on a fiber cement or vinyl replacement, your next task will be choose the color and style of the lining.
Home efficiency is an important factor for new and existing homeowners. If your window seals have seen better days, your energy costs can skyrocket. The new vinyl windows provide additional benefits such as improved energy efficiency, noise reduction and UV light protection to prevent carpet and wall paint from fading. While you may want to do a DIY window replacement to save on home renovation costs, improper installation can lead to unnecessary mishaps.
If your home has older single-pane windows, now is the time to assess whether a vinyl double sash window replacement project it’s in your home improvement budget. On average, you will see a 72.3% the return on investment and the average cost of the job is $17,641.
In today’s window market, there is a wide variety of window optionsfrom traditional styles with transoms to clean modern windows that exude minimalism.
How to increase home value with the right improvements
There are so many factors to evaluate when preparing your home for sale. The ultimate goal is to increase the value of your home. Take advantage of resources like Remodeling Magazine’s 2020 Cost vs. Value data to choose the right projects that will have the highest return on investment.
Drill down to your geographic region, city, and even neighborhood to compare. Taking these important steps will guide you on how to increase the value of your home.
The bottom line
Preparing your home for sale requires a lot of planning. Set a realistic budget for home improvements and work with your real estate agent to determine which investments will positively impact your home’s list price. Once the improvements have been made, make sure your real estate agent includes these improvements when you market your home to attract a larger audience.
What things add value to a house?
The top five remodeling projects that offer the highest return on investment are replacing your home’s garage door, windows, and siding (either vinyl or fiber cement), adding stone siding, and completing a minor home improvement. kitchen.
What improvement projects should I focus on before I put my house on the market?
Once you’ve set your home improvement budget, research the cost versus value value-adding home improvement companies in your area.
How do I choose the right home improvement project?
Taking your own personal preference out of the equation is essential to choosing the right home improvement project. The ultimate goal is to update what will attract the most potential buyers. Focus on offering what buyers in your area are looking for in a home purchase.