Home Improvements That Help Raise a Home's Value
People who are thinking of putting their home on the market often ponder completing some home improvement projects beforehand. When choosing the right projects to complete, Realtor® magazine recommends exterior improvements over interior ones, because these greatly increase the curb appeal of a home.
Unless a home looks well maintained on the outside, potential buyers are unlikely to want to see the inside. As a result, improving curb appeal will not only help a home sell faster, but will increase the amount of money a property is able to fetch as well.
Some improvements tend to provide a greater return on investment than others do. At the top of projects listed by Realtor® magazine is adding a new steel entry door. This not only gives the front of the home a new look, but also provides a sense of security for new buyers. It is also one of the least expensive repairs to complete, and will provide an estimated 85.6% return on investment.
Siding replacement is one of the more expensive improvements, but it also provides a lucrative ROI. Most homeowners can expect to recoup around 79.3 percent of the investment they make in new siding. These figures are for new fiber cement siding, but consumers could expect similar results when choosing vinyl, aluminum, or wood siding as well.
Adding a new deck is one way to make sure a home stands out from similar properties. The addition of a deck will provide anywhere from a 77 to 85 percent return on investment. According to MSN, a deck appeals to potential buyers because they perceive it to be additional living space. Homeowners benefit because adding a deck costs less than a room addition costs. In order to realize the greatest benefit, How Stuff Works recommends a 16 by 20 foot deck made from pressure treated lumber.
Garage door replacement and window replacement are also top improvements to consider. Both of these help to improve a home’s appearance, thereby attracting potential buyers. Buyers are often encouraged by the fact that these improvements help increase a home’s energy efficiency.
When getting property ready to sell, homeowners can’t go wrong when they make some of these exterior home improvements. Doing so could mean the difference between a house that sells quickly over one that remains on the market for several months.