8 Home Upgrades That Maximize Your Property’s Value
In today’s market it is important to maximize the return on your investment when updating your home or getting it ready to sell. But which upgrades will be most worthwhile and give you the best return? Here is our list of the top 8 home upgrades that will reward you with the greatest return for your time and investment.
1.) Painting – Most homes these days are built as a blank canvas. When the home is new, the walls are white the trim is white, nothing really stands out. In an older home, chances are the walls or exterior may look tired from time and wear. You probably have your fair share of nicks, scuffs, fading from the sun, peeling and hand prints. Either case has little appeal to any potential buyers.
Updating the exterior paint on your home will increase your curb appeal and make your home stand out in the neighborhood. Updating the interior paint will bring life to those old walls and is a great way to provide dramatic results with a relatively small investment. Painting your trim white helps make it stand out while offering a modern look. Sticking with earth tones such as pale yellow or tan for your walls is recommended as to not overwhelm any potential buyers.
The overall goal is to update the look and feel of your home while also trying to make it appeal to as many people as possible. If you are unsure of your painting abilities or have trouble making those perfect lines at the ceiling or around trim you might consider hiring a professional. It can be money well spent.
2.) Adding Siding – If you have older siding on your home that is cracking, splitting, or rotting, adding new siding is a must. The best bang for your buck currently is fiber-cement siding which is durable, will stand up to the elements and looks great when installed properly.
3.) Building a Deck – Decking on the home is not only appealing for afternoon barbeques in the sun but if done correctly can add a seamless transition from the inside of your home to the outside. Using natural wood is recommended over composite as it tends to give you the best return for your investment.
4.) Updating the Kitchen – Nothing can be more discouraging in a home than a tired old kitchen. This can be one of the most expensive areas of the home to update but also one of the most rewarding. While replacing cabinets is sometimes required remember they can also be refaced. Adding high quality fixtures, stainless sinks, granite counters, stainless appliances, new flooring and updated lighting can bring life to your old kitchen and make it the centerpiece of your home. Please remember that when remodeling your kitchen don’t overdo it. If the area or home in which you live do not warrant stainless appliances and granite counters you can still make a dramatic effect by installing new laminate or tile counters and updated non-stainless appliances at a fraction of the cost.
5.) Replacing Old Windows – If your home is drafty, your windows have condensation between the panes, or you have trouble getting them to close properly replacing your windows may be just what the doctor ordered. Not only are homes with newer windows more energy efficient, they tend to feel warmer, be less drafty and can update the look of an older home.
6.) Updating a Bathroom – Updating a bathroom can be an inconvenience but most potential buyers will be glad you did the work for them. Keep it simple and once again try to appeal to as many people as possible. Replacing counter tops, sinks, the toilet, flooring and lighting are all simple updates. If you have a tired tub or shower you may consider re-tiling the surround and having the tub professionally resurfaced. This tends to cost less than having it replaced.
7.) Landscaping – Curb appeal is very important when selling a home. Many potential buyers have made up their mind about a house before even entering it. How does your home look from the street? Adding some trees, a hedge in the right spot, perennials, an attractive walkway to the front door or even hanging baskets can help dramatically update your homes curb appeal. While backyards are important as well, focusing on what can be seen from the street will net you the best return for your investment.
8.) Finishing Out a Basement – Does your home have a dark and dreary unfinished basement that is rarely being used except for storage? Turning that area into the warm living area it was meant to be will not only make it much more appealing but can add substantial overall value to your home. When finishing out your basement it is important to make sure the finish quality of your basement matches that of the rest of your home. Using the same quality of flooring and trim is a good way to help keep a consistent feel.