Did any of your home upgrades pay off when it came time to sell? There are many things you can change and remodel in your home, but these 7 key home improvements are guaranteed to increase the value of your home.
1. Remodeling the Kitchen
The kitchen is usually the first room in the house that needs updating. After all, the kitchen is the heart of the home and kitchen remodeling continues to have the highest budget allocation.
For many families, this room is where everyone gathers around or entertains their guests. For this reason, you can expect to recoup 60%-120% of investments from remodeling a kitchen, as long as you stay within your budget.
2. Adding a Bathroom
You can never go wrong with having more than one restroom in your home. This is why you can recoup 80%-130% of investments from adding another bathroom. Most homebuyers will use any room with underutilized space or take an extra room to upgrade it into a master bathroom.
3. Reinventing a Room
This home improvement can be the most expensive upgrade to a house. Adding more square footage to your home can easily accumulate costs but it can bring you a 50%-83% return on investment.
4. Adding Energy-Efficient Windows
Energy-efficient home improvements not only recoups 60%-90% of investment costs, but it can also reduce energy taxes as well! When you replace your windows or doors with energy-efficient models, you can receive a tax credit and 10% of costs, up to $200 per window.
5. Adding a Deck
Outdoor living spaces, otherwise known as staycations, can significantly increase the value of your home. As more homeowners are adding decks and patios to their backyards, it instantly becomes more appealing to prospective buyers when the house is for sale.
6. Energy-Efficient Insulation
It’s about time everyone has basic insulation installed, otherwise the cost to live in and maintain an unmodified home can be a burden. Most potential buyers make sure to include this home improvement into their reports.
One way to ensure your house is well insulated is with the right masonry. Bricklaying and renovations done by Walter’s Masonry of Illinois has worked on many homes and buildings in the Chicago and Northern suburbs that ensure reduced life-cycle costs and protection from the chilly Chicago climate.
7. Basic Updates
Making basic updates to your home is a no-brainer. Making small improvements such as fixing a leaking roof, replacing rotting wood and keeping paint fresh will always add the most value to your home. A solid and safe home is always appealing to homebuyers.
So if you plan to remodel or make improvements to your home, remember that even the smallest of projects can make a big difference to the value of your home. Also, focus on making your home safe and energy-efficient because it guarantees lower energy costs in the future.
It’s amazing how much value energy-efficient windows can add to your home!
This is some great information, and I appreciate your point that adding a bathroom recoups 80%-130% of the cost. My husband and I are going to be moving next year, so we’re starting to look at projects we can do to improve our home’s value. Having another bathroom would be convenient for our family, and since it would almost pay for itself when we sell, we’ll definitely look into that. Thanks for the great post!