Top 5 Ways to Add Value to Your Home
Are you looking to increase your home’s value before placing it on the market? While renovating seems like a great idea to up your asking price, many renovations simply don’t lead to the ROI homeowners are hoping for.
In fact, when considering projects to add value to a home, most homeowners look inwards, when they should instead look at the exterior of their home. The inside of a home can often be enhanced inexpensively through paint, lighting, and clever staging, but the outside speaks for itself.
Tackle these 5 clever projects to increase your home’s ROI and sell your house fast by enhancing the exterior of your home:
Having a new roof installed may not seem like the flashiest of updates, but if your home has roofing that is close to 20 years old, it will likely need repairs or a new roof soon. Buyers will take this into consideration when viewing your home, so impress them with brand new roofing. According to Remodeling’s 2018 Cost vs Value Report, new roofing has an average 68.4% ROI (making it a safer investment than an upscale bathroom renovation).
Replacing windows is a great project for increasing your home’s value. Rather than wasting time painting and fixing old, chipping woodwork around windows, swap them out for a refreshing finish that will instantly update both the interior and exterior of your home. Vinyl window replacement sees an average 74.3% ROI, which makes it one of the safer renovation projects to tackle.
Refreshing Your Siding
The first impression of your home will stick with buyers. Even if you wow them with a jacuzzi tub or fancy lighting, the outside of your home will have a huge impact on their buying decision. The easiest way to impress buyers right from the start is by updating your home’s siding.
This update has multiple benefits. Not only will it provide a refreshed and polished look for the outside of your home; it can also improve the home’s energy efficiency, making it a desirable buying option. Plus, siding has a 76.7% average ROI.
Cultivating Your Lawn
Draw buyers into your space by enhancing or repairing your home’s lawn. If your lawn is lackluster or spotty, create a new lawn from scratch with sod. You can also improve the look of your lawn by re-seeding to encourage new growth. Lastly, if your lawn is already lush and green, add to your curb appeal by planting flowers, trimming weeds, and maintaining bushes and shrubbery. You can even add a simple vegetable garden to really impress buyers.
Building a Deck
An easy way to improve your ROI is by adding a wooden deck to any sized yard. Decks allow buyers to envision themselves relaxing just outside of their new home. This does two things: first, it encourages buyers to imagine themselves living in your home and second, it associates your home with a positive and relaxing experience. Plus, adding a wooden deck is relatively inexpensive and has an average 82.8% ROI.
About the author: Chris Milko is an avid Real Estate investor and a Content Associate at Clever Real Estate, a Real Estate startup offering flat fee commissions for home sellers. Visit the Clever Real Estate Blog to find all the latest information for home buyers and sellers.