Investing in your home is one of the best things that you can do for yourself and your family. When you are looking to sell your home, the added improvements will mean more value in your home and more money that your home will be worth. When home buyers look for homes, most people want a turn-key home and one that features the amenities that will keep them in the home for a long time.
Bob Villa did a recent article on the best ways to add improvement to your home's value in 2018. There are many informative and helpful tips, enjoy!
Older Americans are choosing to remain at home longer, a trend known as “aging in place.” This means that the demand for accessible homes is on the rise. If someone in your family would benefit from an accessibility upgrade—think wider doorways and hallways, lever-style doorknobs, or flush or recessed thresholds—this is a good year to do it. Not only will you improve the quality of life for a family member with disabilities, you could also realize a 68 percent return on your investment.
Enhanced outdoor living and entertaining spaces rank at the top of many a home buyer’s wish list, so if you’ve been dreaming about a new deck, this is a good year to make those dreams come true. Well-designed decks are top selling points, and you could recoup 65 percent of the money you spend on a new composite deck. Wood decks, such as cedar or redwood, are even more popular, netting homeowners a 71 percent ROI.
Year after year, one remodeling project consistently nets homeowners the biggest return on their investment: adding attic insulation. Houses lose the greatest amount of heat through the roof, making additional attic insulation an investment in energy savings as well as home value. The average cost to insulate an attic with fiberglass insulation runs about $1,300, but the project increases resale value as much as $1,400, which means that you could recoup as much as 105 percent of the project's cost when it's time to sell.
Master Suite Addition-
Many of today’s brand-new homes feature elaborate master suites, so if you have just a tiny bathroom off your master bedroom, it may be time for an update. A master suite addition is a pricey project, running $100,000 to $250,000, or more, but it could net from 65 percent to 80 percent ROI. Trending master suite amenities include his-and-her walk-in closets, separate bathing and changing areas, and smart-home functionality.
Entry Door Upgrade-
If your home's shabby, worn entry door is a visual downer, pencil in a new steel entry door at the top of your remodeling list. Not only will a new entry door freshen up your home’s facade, but you’ll also recoup a whopping 90 percent of your investment if you then sell your house. Solid wood entry doors are as beautiful as steel, but a steel door offers the most security and the best ROI.
Minor Kitchen Renovation-
The kitchen is one of the most expensive rooms to fully remodel, but a minor renovation can look almost as good, and it comes with an 80 percent ROI. A minor renovation involves replacing cabinet doors and drawer fronts, and refacing the existing cabinet base. Add new hardware, a countertop, and a sink for a dramatic new look. By contrast, a full remodel (complete tear-out and replacement), will net only a 65 percent return.
Minor Bathroom Renovation-
If your bathroom has seen better days, this is a good year to undertake minor renovations. Consider, for example, replacing a worn tub and adding a tile surround. Small upgrades like luxury vinyl flooring and a new sink and vanity won’t break the bank, and you could see a full 100 percent return on your investment. To get the most value for your bathroom remodeling dollars, choose inexpensive to mid-range fixtures; buying high-end fixtures doesn’t pay off.
For more home upgrading tips check out Bob Villa's website here.