If you’re planning on selling your home, it’s perfectly viable to put it on the market in the exact condition it stands in today. However, if you want to get top dollar for your house, then you should consider some of these updates to boost the value of your home.
Buyers love hearing that a home has new windows. Old and draft windows can allow air to escape and increase a home’s energy bills significantly, so knowing that there are new and energy efficient windows in place is incredibly reassuring. Plus, new windows usually are more aesthetically pleasing than older windows. According to the National Association of Realtors, you can get back 80% of your investment if you replace your windows.
Another feature that can help boost the value of your home is modular construction. With this form of construction, a large majority of a building project is completed in an off-site factory setting, and the parts are then shipped to the construction site and put together. If you’re planning on adding on to your home, think about using modular construction. It reduces energy consumption during the building process by around 67%, and it reduces energy costs later on for the occupants.
Homeowners love entertaining, and many are trying to extend their entertaining space outdoors. One incredibly desirable feature for outdoor entertaining is an outdoor kitchen. This feature allows homeowners to connect with their guests outside while keeping the mess away from the indoor kitchen. Plus, adding an outdoor kitchen sees an average return on investment of 100% to 200%.
On the practical side, homeowners often look at the roof when touring a home. Roofs are supposed to last a long time, and replacing them can get expensive sometimes. You don’t have to completely fix your roof, but you should make repairs if your roof is in rough shape. Most common, smaller roof repairs cost between $150 and $400, with labor being $45 to $75 an hour. Making small repairs can help reassure buyers that they don’t have to put money into the roof any time soon.
One of the first things a buyer is going to see when they pull up to your home is the landscaping. If the yard looks messy, the buyer might not even want to step foot in the front door. Landscaping is actually one of the top three investments that bring the biggest return. According to a recent survey conducted by HomeGain, an investment of around $400 or $500 in landscaping can bring a return of four times that when you sell the house.
The kitchen is the heart of the home, and many modern buyers want large, luxurious kitchens. If your kitchen isn’t those things, you might want to consider updating the space. However, you don’t want to go too crazy. Minor kitchen remodels recoup 81% of the cost in added value, whereas upscale kitchen remodels only recoup around 53% of the cost. So, maybe skip the stone countertops and custom cabinets and stick with new paint and a nice backsplash instead.
The HVAC helps regulate the temperature in the house, and it’s pretty important for most homeowners and buyers alike. While you don’t need a brand new furnace or HVAC system, knowing that the system is updated or even recently inspected helps put buyers at ease.
Finally, energy efficiency is a huge bonus for many buyers. Potential home buyers are looking for energy efficient windows, appliances, electricity, etc. They also like solar panels. According to a recent survey by the National Association of Realtors, 39% of agents said solar panels increased the perceived property value.
Putting your home on the market as-is is an option, but you won’t be getting top dollar. To boost the value of your home, try some of these manageable updates before you put your home on the market.