Home repairs and upgrades not only make your property look and function better, they can raise your home’s property value as well. Here are some highly recommended home improvements that are sure to earn you some investment returns.
– Aside from boosting your property’s curb appeal, new siding gives neighbors the impression that the home is well taken care of. Doubly so, if you’re selling your home.
You can use low-cost and low-maintenance vinyl siding. It comes with transferable lifetime warranties and fade-resistant finishes.
It can also earn you an 83 percent Return On Investment (ROI) if you decide to sell your home, according to the 2015 Remodeling Impact Report.
Another option is fiber-cement siding. It can get you 79% payback, according to the same report. Between the two, fiber-cement siding is more expensive, but it also looks great and is of high-quality.
Patio and deck additions
– More and more home buyers are showing an appreciation for outdoor living. This makes patios and decks increasingly must-have features. They expand living space for a relatively low cost. Also, these increase your property’s value.
If you choose to use mid-range wood for your new patio or deck, you can expect an 80.5 percent ROI, according to this article by Time magazine.
– A kitchen upgrade is known to increase a property’s value, but you don’t have to completely renovate a room. A minor remodel is enough to do the trick. Refacing cabinets, adding new flooring, or modestly-priced yet good appliances, can get an ROI of 79 percent. Meanwhile, a major kitchen remodel can also bring you a 67.8 percent ROI.
– Windows not only bring much needed ventilation to a room — they can also increase property value and curb appeal. By replacing your old ones with mid-range vinyl windows, you can get an ROI of 72.9 percent.
If you’re going to install new windows made of upscale wood, expect at least 71.9 percent ROI. It’s a minor difference, which only goes to show you don’t need to go for the pricier option to see results.
– There’s absolutely no reason for you to not finish your basement, especially if it can guarantee you at least 72.8 percent ROI. A finished basement is also an advantage should you decide to sell your home in the future. Finished basements can be transformed into leisure rooms or guest suites — the possibilities are endless.
– Another home improvement that can definitely increase your property's value is a bathroom remodel. A minor, mid-range upgrade can get you 70 percent ROI, while an upscale remodel can earn you 59.8 percent ROI.
Two-car garage addition
– Parking space is highly coveted that ensuring your property has enough space for two cars is a sure way to increase your home value. For a mid-range two-car garage, you can get an ROI of 64.8 percent.
For more information on how you can get the best value out of your planned home improvements, contact me at [email protected] or 760 622 5087.