Four Effective Ways To Increase The Resale Value Of Your Home

Dated: 04/05/2018

Views: 137


More than 80percent of sellers make home improvements to increasethe profitability of their house, according to a survey by Zillow. Some improvements are money makers and will give you a positivereturn on investment. In other cases, you’ll end up paying moreinto the project than you get back in increased value, but you’llmake your home more attractive to a wider range of buyers, giving youmore chance of making that sale. Whatever your strategy, you need tomake sure you’re putting your money into the right places, so hereare four key ways to increase the resale value of your home.

Remodel Your Kitchen

The kitchen has long been the king ofupgrades when it comes to increasing house values, and that isn’tlikely to change. According to ConsumerReports, a modern and updated kitchen is the top ofthe list of things millenials are looking for in their first home.This means appliances such as six-burner stoves, energy-efficientrefrigerators and super-quiet extractor fans. But kitchen remodelingis about style as much as having the newest technology. Take a lookthe latest trends in kitchen design and remodel in accordance withwhat you find. Properly done, your work on the kitchen could add 3percent to 7 percent to the value of your house.

Upgrade Your Bathroom

If money is a limitation on your homeimprovement efforts, the bathroom is a good place to invest. Bathroomremodeling can add plenty of value to your home and can often besignificantly cheaper than the kitchen. For example, HomeAdvisorreports that the average price to remodel a bathroomin Austin is $6,101 - $14,740. As with the kitchen, check out recentdesign trends. The bathroom is perhaps the hardest-working room inthe house and the quickest to look worn through dirt and grimebuildup. New grout, showers and sinks will have your bathroom lookingsharp, and if you can afford underfloor heating too, you’ll findyourself swamped with offers.

Go Green

Energy efficiency is an ever-increasingconcern among buyers, including the environmentally conscious andthose who just want lower energy bills. Expect to be asked about theR-rating of your house -- meaning how well-insulated it is andwhether the windows have a low-E coating -- a microscopic coatingthat reflects heat, helping prevent heat from leaving the building.Another green option is to install solar panels. One study suggestedthat for every kilowatt of installed solar capacity, house pricesriseby $5,911. The benefit of solar power will dependgreatly on the climate where you live.

Increase Your Square Footage

A more extensive project is to increaseyour square footage by converting unfinished space like a basement orattic into additional living space. According to HGTV, the averagebasement remodel will give you a 70.3percent return on your investment -- so if you’relooking to make money on your remodels rather than just make aquicker sale, success will depend on your upfront costs.

If your basement has a low ceiling andproblems with dampness, this may be too expensive a project. Ingeneral, aim to spend a maximum 5 percent to 10 percent of your housevalue. Basement space is usually only worth half what the rest ofyour home is worth per square foot.

Small Things Help Too!

Beyond these larger-scale homeimprovement projects, don’t neglect smaller projects that you cando yourself. Replace any old doors, carpets or furniture that arelooking worn and give the house a fresh coat of paint. Replacinglight fittings is another good tip, as these can often be the firstpart of the house to go out of style. If you can get one or twolarger remodels done and also make your home look better than it everhas before, you’ll be in a great position to raise your askingprice and get a quicker sale.

Photo: jeanvdmeulen

Sited by:PaulDenikin

[email protected]

Blogsubmitted by: Cyndi Cobb of All City Real Estate – Servicing theGreater Fort Hood and surrounding areas which includes: Killeen,Harker Heights, Temple, Belton, Copperas Cove, Lampasas, Kempner,Nolanville and more. Feel free to call if you have any questionsregarding Central Texas Real Estate.

Want to Advertise on this Site?

Latest Blog Posts

Electric End Of Summer Tips

  The end of summer is in sight, but your energy bill still reflects last month’s triple-digit temperatures — including the air conditioning that can account for more

Read More

5 Real Estate Reality TV Myths Explained

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List,”

Read More

Cost Of Living By State

Some Highlights:The majority of states in the Midwest and South offer a lower cost of living than states in the Northeast and West.The ‘biggest bang for your buck’ comes in Mississippi where,

Read More

Deter ID Theft

 I recently came across a helpful checklist with steps you can take to deter identity theft, and I wanted to pass it along. Never share full birth dates, pets' names, phone numbers, or

Read More