When putting a house on the market, every homeowner wants to get the best price for their property. However, with a variety of options to choose from, it might be hard to tell which home improvement projects add the most value.
Below you’ll find a list of seven solutions that will turn your home into a luxurious place and attract the best offers when the time comes to sell.
Upgrading insulation
In order to make your home more appealing to potential buyers, you’ve got to make sure you cover the basics first. Homes that require more energy to run translate to increased monthly expenses, which is a big turn-off for buyers.
Homebuyers look for homes that are optimized for living and cost less to maintain, which is exactly why you should consider investing in insulation. Inspect your home for areas that leak air and add caulk or insulation where needed. Installing programmable thermostats as well as light bulbs will also help retrofit an energy-inefficient home and help save hundreds, if not thousands on monthly utility bills each year.
Kitchen remodeling
Often considered to be the heart of the home, the kitchen is one of the rooms where we spend the majority of our days – prepping food, packing lunches, and eating together with our families. Therefore, it makes sense that you’d want to make it as appealing as possible to potential buyers.
Invest in quality, energy-efficient appliances, and choose a soothing color palette that looks fresh and modern. Wine fridges and warming drawers can make any kitchen look extra luxe, while plenty of storage and a pantry are modern kitchen must-haves. Now, the costs of kitchen remodel can run from just a couple of thousands to up to $75,000. However, given how the ROI on these projects can go up to 120%, kitchen remodeling is considered a wise investment.
Patio addition
As staycations continue to rise in popularity, more home buyers are looking for appealing outdoor spaces where they can spend their holidays, placing decks and patios high up on their list of priorities. When you consider how a deck or patio addition can translate to 80% (and higher) return on investment, it’s definitely an investment worth considering.
High-quality polished concrete is one of the most cost-effective flooring options for a patio, with durability and low-maintenance being two features that make it particularly popular among homeowners. Using only high-quality materials and hiring reliable contractors you can trust will help maximize your returns and add significant value to your home.
Bathroom addition
The number of bathrooms in a home plays an important role in how potential buyers perceive your home, especially individuals with larger families. Adding another bathroom is an easy way to boost your home’s value and appeal to a wider range of buyers at the same time.
Depending on how much you invest, you can expect to recoup anywhere from 80 to 130% of the costs that come with bathroom addition. Think about whether you have enough space for a full-bath or half-bath, and look for rooms and spaces that you don’t usually use (e.g. closets, spare rooms, understairs storage space, etc.) to build an additional bathroom.
Attic or basement conversion
Converting underutilized spaces in your home such as attic and basement is also a great way to add value to your home and convince a buyer to purchase your property. It’s also a cheaper alternative to building out while also maximizing your square footage.
That being said, attic/basement conversions can be quite pricey investments, with ROI ranging from 60 to 70%. However, additional rooms both above and below ground levels can make for great playrooms, bedrooms, home offices and theaters, and present some extra square footage many buyers could use, thus increasing your chances of selling your home faster.
Installing underfloor heating
This is one of those high-end features many home buyers are looking for these days, especially those who are on the lookout for clean, streamlined, minimalist interiors. Installing underfloor heating eliminates the need for radiators, which translates to additional space and walls free of heating devices.
What’s more, heating your home from the floor up translates to even distribution of heat while also resulting in less monthly energy usage. Moreover, an in-floor heating system delivers comfort and luxury, and listing it as one of your property’s features may help attract more buyers and result in higher offers.
Installing triple-glazed windows
How energy-efficient your home is will largely affect its selling price, and consequently, how long it sits on the market. Single-pane windows are one of the things that are a major no-no for many home buyers due to their inefficiency and heat loss that comes as a result.
On the other hand, investing in triple-glazed windows means improving the energy-efficiency of your home, not to mention the added security and the amount of money you’ll be saving on heating and cooling costs by updating your windows. You can recoup anywhere from 60 to 90% of your investments, so upgrading to triple glazing is something home sellers should definitely keep in mind.
When preparing your house for sale, it pays to know which projects and features are worth investing in. The tips above will give a boost to your home’s resale value and help you sell faster and for more money.
