There are several home improvements which have the potential to pay for themselves in decent returns when it comes time to sell.
Kitchen and Bathroom Remodeling
These two rooms are the go-to renovations for adding home value. Kitchen and bathroom trends go in cycles. Be careful hopping on the trend of the time if you don’t plan on selling right away so you don’t get stuck with last year’s fad. Instead, focus on functional improvements. Upgrade your appliances to high-quality and energy efficient models. Consider getting your cabinets and counters re-finished to boost aesthetic appeal. Energy efficient appliances add to resale value because the buyer knows they get long term savings on their utility bills
Consider something unique for a master bathroom renovation. The idea is to make a potential buyer remember the bathroom. A big seller is the whirlpool tub. Your real estate agent can sell the buyer the idea of unwinding in this luxurious tub after a hard day of work, and it could be the difference which gets you more than your asking price.
Finished Basement
Turn your glorified storage space into a functional living space by finishing your basement. The “Man Cave" has been a popular option for basement renovation over the last several years. Consider adding a kitchenette area and additional bathroom if you have the space, as this will increase the resale value.
A finished basement is an improvement which appeals to a wide range of buyers. It can be marketed to empty nesters as a rental space, to the husband of a newlywed couple as a “man cave”, or to a family with kids as a playroom.
Roof Replacement
The roof is an oft-overlooked part of the home. A specialist from Century Roofing Ltd says most people don’t think about the condition of their roof until they experience a leak. A new or recently repaired roof adds value to your home in a number of ways. The first way is curb appeal—if your house and another house are equal in every aspect except you have a new roof and the other doesn’t, the buyer will almost always choose your house.
Roof replacement also saves you money if you live in an area with a cold season, bolstering your insulation and increasing efficiency. You may also want to consider investing in solar panels for your roof. Solar is the next big trend in home energy and adds exceptional value for the earth-conscious buyer.
The bottom line is you should always keep investing in your home after you close because you never know when you’ll be putting your house back on the market.
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