Top 6 Improvements to Protect Your Home’s Value
As a homeowner, it’s helpful to know where your money will go the furthest when it comes time to sell. The fashion zeitgeist is continuously changing, and what looked hip a decade ago may diminish your home’s resale value today.
The trick lies in investing where you’ll get the greatest returns. Consider the following ways to protect — and boost — your home’s value:
1. Remodel the Bathroom
A bathroom remodeling yields an average of 102% return on resale. Paint the walls, replace or refinish the tub, and remove clunky shower doors to open up space. Apply a fresh bead of caulk around all watertight joints. Change your light fixtures and consider retiling the floor if it looks dated.
You can probably do lots of landscaping work yourself if cash is tight — a pair of pruning shears goes a long way. Whatever you choose to do, know that landscaping tends to pay off with a 100% return on resale.
One way to increase curb appeal is having a splash of color near the street. Then vary the colors and heights of your plants near the house. Keep plants from touching the house, as this can attract pests and raise a red flag to potential buyers.
3. Invest in a Kitchen Makeover
The kitchen is another vulnerable spot for aging quickly. Doing a $15,000 kitchen remodel tends to yield a nearly 100% return on investment. That includes sanding and painting up to 30 feet of cabinets, as well as replacing the sink, countertops, flooring, and range.
4. Replace Your Exterior Siding
Let’s talk about vinyl siding. It is cheaper, but that’s about it. To many buyers, vinyl is synonymous with a lower-quality building. At the very least, replace your vinyl siding if it has cracks or the color has faded. This tends to grant a 95.5% return on investment.
However, consider that fiber-cement siding lasts longer, looks better, and earns an average of 103.6% on resale. Even though it costs more, it is likely to earn you money when it’s time to sell.
5. Add a Deck or Patio
A deck increases the livable square footage of your house for dramatically less money than a home addition. A deck made from pressure-treated wood tends to return 90% of its cost upon sale. Decorate with mature potted plants, outdoor furniture, and lighting.
6. Replace Old Windows
A fresh set of windows will not only make your house pop, but it will address a common concern among buyers. Windows are one of the few moving parts of houses and they take a lot of wear. Replacement windows tend to recoup 89.6% of their costs and will reduce the amount of time your house is on the market.
“Top 15 Home Updates That Pay Off.” HGTV, www.hgtv.com/design/real-estate/top-home-updates-that-pay-off-pictures.