Home improvement is one of those delightful endeavors that pays off. After all, who can put a price on the joy you receive from transforming your house into a more appealing, livable environment? Nonetheless, some projects have more to offer than others when it comes to boosting resale value. Let's start with projects that are within the skill level of the average person.
Adding Insulation to Your Attic
Sounds pretty boring, doesn't it? Yet no project offers a better return on investment (ROI) than this simple upgrade, according to remodeling experts. The average cost of adding fiberglass insulation to an attic is $1,343, while the average increase to your home's value is $1,446, for a 107 percent payback.
Repainting the Interior
Can adding a fresh coat of paint to the inside of your home help you to fetch a higher asking price? The answer is, "It depends." For example, painting your bathroom certain shades of blue can increase a home's appeal to the average buyer. On the other hand, using similar tones in your living room can have the reverse effect; odd but true. You should do a little research on how to choose colors that will show you more green.
Renewing the Landscape
The exterior of your home creates the first impression buyers will have of its value. So, yes, simple steps including planting flowers and mowing your grass can have a big effect on the asking price. It's easy to overdo this step; however, creating a layout that's fit for a king will make many prospects shake their heads and say, "Wow, that must take a lot of work to maintain!" So, when it comes to landscaping, the best advice is to keep it simple, according to Home & Garden TV.
Replacing old cabinets with new units is sure to please most prospects. But it may also saddle you with debt. A more affordable alternative is to paint or replace the existing doors and hardware yourself while leaving the essential structure untouched. As an added touch, you can find aftermarket products that will help you to better organize your cabinet's contents.
Now let's look at projects that are best left to the pros.
Kitchen Remodeling (Moderate to Extensive)
This may seem like a must-do; but, as with landscaping, a kitchen remodel that clashes with the home's character or dimensions will actually turn off many prospects. A good interior designer can provide expert advice on these matters.
Want to ruin your chances of selling your home? Leave roofing problems uncorrected. Not only will prospects turn around and leave, you might also end up with structural issues that affect your health and safety. You must keep your roof in good shape, simple as that. But roofing contractors vary in terms of experience and customer satisfaction. So always check references and reviews before entrusting a company with your money.
Americans love big houses. Adding a bedroom or family room will set you back big bucks, but it can also help to cash in when selling time comes around. As with kitchen upgrades and landscaping, though, the same qualifier applies. Make sure the addition harmonizes with the existing home or you could find yourself saddled with an expensive eyesore.
How Much to Ask?
Pricing a home is a complex topic that requires more space than we have here. A good rule of thumb is to get a pre-improvement estimate, then add the average ROI for the work you have completed. We recommend consulting a professional appraiser for the most accurate results.
Home improvements, when chosen wisely, are among the smartest investments you can make. So, do your homework, then get ready for benefits that will pay off both now and down the road.
Copyright © 2018, Seth Murphy, PAPA DIY. Article posted with permission.