Remodeling or renovating your home can make it more comfortable and, if done correctly, increase its value. Not all renovations are the same. Some projects will add value to your home, while others may lower the selling price.
REMODEL YOUR KITCHEN.
Kitchen renovations pay off. Many potential homebuyers seek modern, up-to-date kitchens.
Remodeling Magazine’s 2018 Cost vs. Value Report shows that you can expect to recover 62.7 to 81.6% of your investment in a kitchen remodeling project. But don’t go overboard. Adding an $80,000 kitchen to a $125,000 house is not smart.
Start small when remodeling a kitchen. You can replace the kitchen faucet, install new cabinet hardware, and replace your old light fixtures with energy-efficient ones.
Instead of replacing cabinets, you can paint them a different color or hire a company that refills cabinets. They will refinish the box and install new doors, drawers, and hardware. These minor changes will make your kitchen look better.
UPGRADE APPLIANCES.
Consider ordering replacement doors and face panels from your manufacturer if your appliances aren’t matching. This will make your kitchen look more cohesive without replacing the appliances.
You can replace older appliances with energy-efficient models that are more sustainable and less expensive. Many people are eligible for a discount through Seattle City Light. Buyers are always looking for ways to save money while shopping for a home.
BOOST THE BATHROOMS.
According to the Cost vs. Val Report, bathroom remodeling will return 87.7 percent to 93.5% of your investment. Don’t get carried away as you did with the kitchen. You can update the fixtures, paint the room, and re-grout your bathtub. Bathrooms can be transformed by adding a mirror or light fixture.
REMODEL YOUR ATTIC OR BASEMENT.
The cost of adding square footage to your house can quickly rise and cause you to spend more than you originally planned. Don’t try to add space. Instead, renovate what you have. The attic could be used as a bedroom or exercise area. The basement can be converted into a family space. Potential buyers will be more interested in a flexible room that can be customized to their liking.
GET DECKED OUT.
Adding a deck is a good investment because of the high return on your investment. Decks are cost-effective and increase living space, but they also have a lower price per square foot.
According to Cost vs. Value, a wooden deck in Seattle that costs $13,084 will average 106.7 percent of its market value when resold. Composite decks cost around $19,227 to build and will return an average of 122% of their value at resale.
BOOST CURB APPEAL.
First impressions count. You can make your home look better by cleaning it or adding a walkway. You don’t need to spend much to make your home more appealing.
A new front door can instantly transform your home’s appearance. It is easy and inexpensive to install. The Cost vs. Value Report ranks a new front door as one of the most important home improvements.
For a complete look, prune shrubs and mulch bushes and trees. A flowerbed or geranium pot can add a little color to your garden.
To remove dirt and years of buildup, scrub your siding. Any areas that are damaged should be repaired.
Please don’t overdo it, as with most items on this list. A backyard paradise can be nice, but it will not increase your asking price. You only need a well-kept lawn, well-placed shrubbery, and vegetation to increase the “wow” factor.
IMPROVE ENERGY Efficiency.
An inspector will check if the home has poor insulation or drafty windows and doors. This can lead to higher energy consumption, which will increase homeowner’s costs. Start small, like adding insulation to your attic. To prevent energy loss, seal cracks around doors, windows, and light switches to seal them.
Potential buyers may be turned off by single-pane windows that are too small. You can save money on cooling and heating costs by installing Energy Star windows. You can also qualify for a green tax credit by upgrading to Energy Star-rated windows.
Window buyers are more likely to expect them to be in good shape before buying windows. This could reduce your asking price. However, they could be replaced to decrease the asking price.