Things to Consider When Doing Home Renovations
The Importance Of Curb Appeal
Even in the most popular housing markets, curb appeal plays an essential role in marketing your home. If your home is unappealing on the outside, no one will want to see the inside — plain and simple. If someone will spend a large amount of money purchasing a property, the first thing that influences their decision is the exterior. This should be one of the most important aspects of any home improvement project.
Curb appeal is why siding replacements and other exterior projects are ranked so highly on our home improvements ROI list. Curb appeal is meant to create interest in your home, and in turn, drive those who are interested inside to see more. Any home improvement project that improves curb appeal will result in higher interest in your property, and a higher ROI once purchased.
Consider Your Area’s Trends
Trends are another interesting component to think about when updating or remodeling your home. This does not necessarily refer to home design trends, but instead any factors that are influencing the home buying market in your area. For example, people have become much more environmentally conscious in recent years. It this is true of your area, you may find that energy-efficient appliances and smart home features have a high ROI. Not only can these elements save homeowners on utility costs, but they are also increasingly desirable features. Research a few recently sold properties in your area through listing websites like Zillow or RedFin. These may provide you with more ideas on attractive home trends or renovations in your area.
Other Improvements To Make
Some valuable home improvement projects that are not at the top of the list may actually bring you a great ROI. If you are looking to see the greatest return on your investment, consider these changes.
Hardwood floors: Most buyers favor hardwood floors rather than carpet. If your carpet is in good condition, you can get away with skipping this home improvement project. However, if your carpets are outdated or you have pets, it will be worth the cost to spend the extra cash on installing new hardwood.
Exterior siding: Your home’s exterior greatly impacts the perceived value of the home. After all, the outside of the home will create a buyer’s first impression of the property. If your home’s siding isn’t up to date, replacing it with a durable material will increase curb appeal, and in turn, a higher ROI.
Smart Thermostats: Modern day buyers are attracted to smart appliances and energy-efficient homes. Smart thermostats allow homeowners to control their home’s electricity usage and even help lower their monthly electric bills. Spending a few hundred dollars on an upgraded smart thermostat can appeal to buyers and bring a great return on investment.
Decor: Staging the property with attractive decor helps buyers to visualize the potential of the space and in turn, increase the perceived value of the property. Invest in furniture and decorative pieces that can be reused in any property you plan to stage in the future, or remove any excess clutter or personal photos from the existing space. This helps potential buyers envision themselves in the home and imagine it as their own if they were to buy it.
Summary
If you plan to live in your home for five or more years, you should feel free to make upgrades that fit your preferences and lifestyle; however, if you want to turn a profit when you sell, try increasing your home improvements ROI. The top home improvements for increasing ROI can simultaneously improve demand and value. Therefore, homeowners can’t simply make any upgrades they want; they need to make the right upgrades. The highest ROI home improvements will prove more efficient and worthwhile than all others.
Not every addition or improvement is going to add value to your home. Here is a list of the Top Home Improvements that provide the largest ROI (Return on Investment) on every project. The biggest part of the process is identifying the right contractor to work with. You will also receive my full guide of contractors, painters, plumbers, electricians, handy-people, and more!
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