Adding a home addition is one of the best ways to boost your home’s value. It doesn’t matter if you’re a first-time seller or a seasoned real estate investor. Whether you’re planning to sell sooner or sell later, it’s a good idea to consider the ROI of potential home improvements.
But which ones should you make?
The key is to understand the actual value of whichever one you’re considering before you spend your time and money.
With that in mind, here are some things that can help boost a home’s market price…
Verify the ROI on the Home Improvements You’re Considering
Some home improvements offer better returns on investments than others. If your primary goal is to boost your home’s value, then ROI should be your main consideration.
Calculating the ROI on a home improvement isn’t an exact science. The money you put into a project may yield a bigger boost to your home’s value than you expect – or the payoff may be less than what you hoped when it’s time to sell.
The value of any home improvement can be affected by a number of factors. Some improvements might put your home into a price range that’s too high for your area. Others might simply not have a persuasive impact on buyers.
It will be helpful to consult with a local real estate agent to get an idea of which improvements will earn you the biggest ROI.
Remember that you won’t always recoup the full value of every improvement you make when it’s time to sell your home – but the suggestions below will more than pay for themselves.
Which Renovations Will Increase My Home’s Value?
When you’re evaluating potential home renovations to boost the value of your home, think about them from a buyer’s perspective.
What’s valuable to you might not be as valuable to someone else. Here are some ideas to help you increase your home’s value.
Make Improvements that Improve Curb Appeal
Most real estate agents will tell you that improving a home’s curb appeal is a must. Here are some improvements that can really pay off when it’s time to sell your home:
– Landscaping improvements (planting flowers, etc.)
– Adding a new walkway
– Sprucing up planters
– Replacing the front door
– Painting the exterior of your home
These renovations are generally quick and easy fixes that can make a BIG impact when a potential buyer sees your home. First impressions matter.
Make Your Home Look Bigger
You may not be able to add additional square footage to your home, but you can make it look bigger.
Here are some home improvements that can make the interior of your home appear more spacious than it is…
Continue reading and learn more about improving your home’s value on Daisy Linden’s blog.