Are you thinking about selling your home? If so, home upgrades can be extremely helpful in getting a higher price for your property. Moreover, home upgrades make a home more energy-efficient, which is a big selling point for potential buyers. Here are six of the top home upgrades that can improve your home value, along with some considerations.
Replacing your windows is one of the top upgrades that can increase the value of your home. Besides making your home look more updated and attractive to buyers, window replacements can save you money now. This is because their tight seal prevents air from leaking, which saves you money on energy costs.
What’s more, paying less for energy bills is important to people interested in buying your home. Just remember that the value of replacing your windows depends on several factors, such as the type of window frame as well as the real estate market in your area.
Front Door Replacement
According to an article published in Remodeling Magazine, the most valuable home upgrade is replacing the front door. In fact, in the Pacific region of the United States, a steel entry door replacement can recoup about 74.9 percent of the cost spent on this home improvement. Probably the reason why a front door replacement is so important is that it gives buyers their first impression of your home’s overall appearance.
Garage Door Replacement
Another one of the top home upgrades for increasing the resale value of a home is a new garage door. The average cost recoup for a garage door replacement in 2019 for California homeowners is 95.7 percent. When you replace an outdated garage door, you’re giving potential buyers a more positive first impression of your home. Consider how your garage door takes up about one-third of the exterior of your home, occupying a large visual space.
Furthermore, a garage door upgrade gives a high return on investment (ROI) as it offers other benefits, including savings on energy bills and increased safety. These are some of the main benefits most buyers are looking for in a home.
Remodeling your kitchen can increase your home value by as much as ten to fifteen percent. As a result, you can recover your remodeling investment. However, it’s best to keep the cost around 10 to 15 percent of your home value.
Upgrading your cabinets can vastly improve the look of a kitchen. Also, replacing your old countertops for more modern materials, such as marble stone or even concrete, is another important kitchen remodel. Adding skylights to a kitchen ceiling can also increase home value. This is a great way to bring in natural light.
In addition to your kitchen, it’s your bathroom that buyers examine the most. The average bathroom remodel cost last year was a little less than $21,000 in the San Francisco Bay Area. This number is more likely to reach almost $24,000 for a “down to the studs” remodel. But consider that you may be able to recoup about 75.3 percent of this cost from your California home’s resale value.
Most people prefer more than one bathroom. Thus, if you only have one bathroom, consider adding another one. Doing so can increase the value of your home. An additional bathroom can increase your home’s square footage and make your home more appealing for buyers.
Cracked, faded or damaged siding can easily turn off buyers. By upgrading old, worn-out siding, you can improve your curb appeal, which can entice more buyers to come inside your house. New siding is also cost-effective since it helps in cutting energy bills. As for recouping what you have to spend on new siding, consider that you can get back as much as 84.3 percent of your investment for replacing your California siding.
Other Considerations for Improving Home Value
- Outdoor renovations that can enhance curb appeal and increase home value. They include improvements to the front yard and landscape.
- If you have an unfinished basement, think about refinishing it.
- If possible, convert your attic into an office, craft room or small bedroom.
- Examine your walls to see if they need to be repainted, considering that fresh paint makes a huge difference in how a room appears.
- Replace old appliances with ones that are more energy-efficient.
Are you considering downsizing or upsizing but aren’t sure how to sell your home so that you can buy a new one? Maybe you’re a first-time buyer. Contact us and find out more about how we can help you.