Home renovations will boost your home value but can cost a fortune. The worst part is you will not make as much profit as you are hoping for from resale. Therefore, get into DIY renovations and save money so you will be making much more of a profit in the end. Here are the top 15 home improvements plus tips on how to create more value at resale.
1) Minor Bathroom Improvements
Improvements such as replacing your tub, tile surrounding, toilet, and sink are key improvements. The average return at resale is 102 percent. However, it can get quite pricey. Therefore, try some DIY tips such as getting rid of old caulk with CAULK-BE-GONE and re-caulking your tub. More tips are removing old wallpaper & applying fresh paint or replacing shower doors or removing them to add the look of more space.
Landscaping is another necessity, with an average return on resale for landscape is 100 percent, but paying for a landscaper and designer is not worth it. Instead, your local garden centers often offer design services for free and you can also ask your neighbors for tips & opinions. To catch people’s eyes, try adding a bit of color to the front of the house with some vivid plants & flowers. Also, a walkway or fountain adds a great value to your property.
3) Minor Kitchen Renovations
Resale from a kitchen remodel is on average, 98.5 percent. Therefore, do minor renovations instead of a whole new layout. To bypass all the expenses of replacing everything, you can place recessed lights 3’ to 5’ apart from center and 18” from cabinets to light up the countertops. You can also sand and paint existing cabinets to enliven your kitchen.
4) Exterior Improvements
Return at resale for exterior improvements is 95.5 percent on average. In order to make a greater value try doing some easy improvements yourself such as removing old awnings from windows and doors, swapping rusting railings for real wood, or giving your porch a charming look by adding a pergola & columns. If your house was painted before 1978, it may be a good idea to test for lead before sanding or scraping.
5) Attic Bedroom Alteration
The attic bedroom conversion has an average return at resale of 93.5 percent. To save money while renovating, add more insulation in your attic to lower the utility bill. You could even add a solar-powered attic fan if it will be an efficient way of saving on cooling costs. Also, make sure the foil vapor barrier is installed near the ceiling to prevent moisture from coming through.
6) Major Bathroom Remodel
A major bathroom remodel is very expensive and only gets you an average of 93.2 percent on return at resale. To get a greater value, start with the floors by replacing them with fresh ceramic or stone tile for a guaranteed pay off. Another tip is to replace the vanity countertop for a fresh new look.
7) Major Kitchen Renovations
In order to make the most of your money, you should budget 10 to 15 percent of your home’s value remodeling the kitchen. By removing over counter cabinets and creating an eating bar, your kitchen will appear larger. If you need new granite, local granite dealers that sell remnants can be a great and cheap option. Also, repainting is never a bad option.
8) Deck, Patio, or Porch Addition
Small improvements make the biggest impacts in the end. You can create an eye-appeal to your house with fancy pots for plants on your porch, patio, and deck. Make sure your porch railings are safe & appealing and hide unattractive air conditioning units with a wooden trellis to boost your profit margin. Another great improvement is giving a courtyard a charming entry with an inviting gate.
9) Remodeling the Basement
You can get on average a 90.1 percent return at resale for basement improvements. You must always fix the flooding issues first. To do so, you can add French drains or bigger gutters. When finishing walls, remember to keep drywall panels a half-inch apart from the concrete floors so they do not absorb moisture. For a wet bar, purchase 10 linear feet of cabinets, a laminate countertop, a stainless-steel drop-in bar sink, and an under-counter refrigerator.
10) Replace Windows
When replacing windows, you will get around 89.6 percent back from resale. Also, replacing windows does not pay off much in all hot climates. To create more value, big city window replacements will do the trick. There is even low-e glass that reflects heat, if that is an issue at your home, but for maximum efficiency, add argon gas inside the pane to avoid heat & cold transference in the window.
11) Family Room Addition
The most value from family room additions happen in high-cost Western markets. There is an average of 83 percent return at resale. Sunrooms count as the home’s square footage count only if it is heated and cooled year-round. However, it adds value mainly in upscale neighborhoods.
12) Bonus Room Updates
Converting a bonus room into a home office can be pricey and will bring in an average of 72.8 percent at resale. The best option when selling is to decorate these rooms to please the customers. To increase value, add more electric outlets and kitchen cabinets or bookshelves with glass doors.
13) Living Room Improvements – Décor
Decor is needed to add value but can be costly. Some ideas are adding crown molding that complements the window trip and floorboards. You can even make the room feel larger and contemporary by shifting the furniture away from the walls. To make the room more appealing you could place the furniture around a feature you want people to notice such as a fireplace.
14) Bedroom Updates
Swap old lighting fixtures for a small chandelier for a romantic touch. Repair dry wall by using as little joint compound as possible to make it easier to sand the surfaces later. Also, hardwood floors are becoming increasing popular. Replace worn up carpet with fresh hardwood.
15) Living Room Updates – Walls & Floors
Brighten up the living room with some fresh light, neutral colored paint. Also, update the trim with fresh paint and caulk any open seams between the molding & ceiling and baseboards & walls. Hire a pro to sand your hardwood floors and save money by doing your own staining & sealing.
Increase the value of your home this year by trying some of these renovations. With many cheap and new tips, you are sure to find something that will help update your home. Fall in love with the stunning new look and feel of your home.