4 Renovations that Could Have the Best Return On Investment
Friday, 31 March 2017, 03:05:00 PM
Remodeling may seem like a lot of work and wasted money, but it could actually earn you money in the long-term. The renovations not only make the home better for you to live in now, but the changes could look very attractive to buyers if you decide to sell your home in the near future. Here are some of the home improvements that could provide a good return on investment.
Replacing the old siding of your home with new vinyl is an improvement that will be well worth the costs. Many homeowners get back a significant percentage of their money on this type of renovation when it’s time to sell the property. Adding the new vinyl to your home will increase its curb appeal and attract more buyers. Most homeowners do not think about replacing old siding unless it is damaged. Other sellers will clean it with a power washer. Keep in mind that this is a recognizable feature that should be upgraded when you have the time and money. When replacing the siding, take your time to choose the best color. White can show dirt more easily; taupe is a popular color amongst homeowners.
Install a New Garage Door
Although a lot of people may be accustomed to using the front door or other entrances, most homeowners will want to utilize the garage. Upgrading this feature is one of the highest returns on investment that homeowners can make. You should think of the garage as part of the face of a home; it is one of the first things that potential buyers will see, and it is something that they will take a further look at once they walk through the property. This means the “face” of the garage should look nice, and the garage should be in good working condition. Some of the current trends include garage doors with windows or carriage-style doors. Facsimiles and natural wood are popular amongst new buyers.
Wood floors are becoming more popular amongst young buyers, in comparison to carpeted floors. Therefore, installing wood floors is a great selling feature that could recoup almost all of its cost. Oak is one of the most popular wood floors that sellers should install. It is best to use hardwood floors instead of engineered products because those products typically contain formaldehyde. You want to choose high-quality floors that will last longer and remain in great condition, despite normal wear and tear. Wood floors are easier to maintain, which is why homes with these floors sell better than homes that have carpeted floors. Young homeowners do not want the task of constantly having the floors professionally cleaned or pulled up and replaced, which is necessary with carpet flooring.
A New Roof
This is one of the top home improvements that could recoup its costs in the long-term. In fact, installing a new roof could actually earn homeowners more money than they spend on the renovation. Although a new roof does not lead buyers to choose a house, it could be the reason that they decline on the property. The fact is that most buyers do not know if a roof is in good condition or not. However, almost all buyers will have an inspection done prior to making an offer. The roof would need to pass the inspection, and if it doesn’t, the buyer could decline on the property or negotiate a significant drop in the asking price.
When you are ready to make some improvements to your home, consider these upgrades. The changes will not only make your home look better, it will attract potential buyers in the future, offering a great return on investment.
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