Many home improvement projects don’t add value to your home, especially in a down market. In fact, some improvements can even detract from the asking price when you decide to sell. On the other hand, some projects can add significant value to your home.
So which home improvement projects should you invest in before you sell your house? Below are some helpful tips for five great home improvement projects that increase the value of your home.
1. Add a Deck
If you’re lucky enough to own a house with a big yard, having a wooden deck can be an extra enhancement to enjoy the outdoors around your home. Adding a deck increases the value of your home. Outdoor living spaces have become more desirable, especially since more people stay home for vacation (i.e. referred to as a staycation). If you make your deck and your backyard more appealing, your house will be more appealing to prospective buyers when you decide to sell. HGTV claims that homeowners recoup 65%-90% of their investment by adding a deck.
2. New Garage Door
A good-looking garage door tops the list when it comes to getting cash back on your investment when you decide to sell your house, according to the BankRate 2019 Cost vs. Value report. This curb-appeal enhancer will get you back almost every dollar you spent on it when you sell your house. As an added bonus, buyers know that they won’t have to worry as much about the maintenance of a brand new garage door.
3. Kitchen Facelift
Creating a modern-looking and functional kitchen can add more than just value to your home: it can boost your enjoyment of everyday activities like cooking, entertaining friends and sharing meals with your family. However, potential buyers see the intrinsic value of this kind of upgrade. On average, you’ll recoup a little more than 80 percent of the cost of a minor kitchen remodel. In a remodeling project of this kind, you might replace appliances with new, more energy-efficient models, reface cabinets with new shaker-style wood panels, install new countertops, replace hardware, install a new sink and faucet, add new flooring and repaint.
4. Add Energy-Efficient Windows
These days, buyers shop for homes with energy efficiency in mind. Old, drafty single-pane windows are a major turn off. Energy Star claims that adding Energy Star-rated windows can save you up to $500 a year in heating and cooling costs by making your home more energy-efficient. According to HGTV, you can expect to recoup 60%-90% of your costs when you invest in energy-efficient windows. You can also receive a green energy tax credit of 10% for this upgrade, as long as you install Energy Star-rated windows. You might also qualify for additional credits from your state or even your utility company.
5. Add a Bathroom
If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. When it comes to finding room in your house for an extra bathroom, take a look at any extra rooms or underutilized spaces. Consider other spaces, such as closets or areas under the stairs, too. HGTV estimates that you can recoup 80%-130% of whatever you spend adding a bathroom.
