Top 5 Home Improvements to Increase the Resale Value of Your Home
When thinking about new home improvement projects, it can be helpful to consider the return on investment your project might deliver. Some common renovation projects like adding a home office or master suite, adding a sunroom, and installing a backup power generator typically yield a return on investment of less than 50%. The 5 projects below will give you a much better bang for you buck.
1. A modern, energy- efficient kitchen
The kitchen is widely considered to be the most important room in the home. Modern designs, energy-efficient appliances, natural countertops like marble or granite, and plenty of intuitively placed storage space are extremely appealing to buyers.
2. Adding a bathroom
Turning any underutilized space into an additional bathroom is one of the best ways to add value to your home. The return on investment on this addition can be up to 130%, according to HGTV reports.
3. Landscaping
Curb appeal is immensely important when selling a home, as a bad first impression can quickly deter potential buyers. Furthermore, you don’t have to spend a lot here for the returns to pay off. Simply sprucing up your yard with a few new plants and accessories and removing weeds can yield significant returns.
4. Modernizing lighting
Outdated lighting fixtures are unappealing to buyers. Updating your fixture and adding energy-efficient bulbs and motion sensors can substantially boost the value of your property.
5. Increasing energy efficiency
In addition to light bulbs and kitchen appliances, things like solar panels, insulation, energy efficient windows, and a modern HVAC system will not only add to the resale value of your home, but will also save you money on your electric bill. Savings can reach up to $2500 per year, according to some estimates.