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5 More Upgrades That Will Add Value to Your Home

In another article on The Degnan Group blog, we covered five upgrades that add value to your home. These included finishing your basement, remodeling your kitchen, basic maintenance, finishing your deck and turning the attic into a usable living space. Now, we’re back with round two.

If you want to renovate your house with projects that will increase your resale value, check out this list of five more upgrades that will add value to your home!

1. Find Out Where Your House Comes Up Short

A great way to improve your home’s resale value is to find out where it comes up short in comparison with the other houses in the neighborhood. If you want to meet or exceed the sales prices of the houses nearby you need to be sure you stack up well.

Chances are there’s something that sets your house apart from the rest. Maybe you’re one of the few with no deck or patio outside. Or, your house has two bedrooms while everyone else on the block has three. In situations like this, it’s a good idea to upgrade in that area so your house can meet the expectations of future buyers.

2. Add a Bathroom

House Logic reports that “Buyers tend to prefer houses where the number of bathrooms equals the number of bedrooms.” They also stated that while the percentage recovered in resale value is about 50%, the “joy score” was a solid ten out of ten.

When it comes to adding value to your home sometimes that value is monetary and sometimes it comes in improving your standard of living. Looking at these numbers, it’s clear that if living with fewer bathrooms than you need is driving you crazy then adding a bathroom to your house can be a great long-term investment in your happiness.

3. Improve Your Curb Appeal

If you’re looking for a small way to make a big difference, consider investing in your home’s curb appeal. The Columbus Dispatch recently cited reports that found “Improving a home’s ‘curb appeal’ adds the most resale value.” This included little things like replacing the front or garage door or adding stone veneer to the front of a house.

Curb appeal is the first thing buyers see and making a good first impression when selling your house is essential. The relatively small investment in new doors can recoup more than 100% of their costs when you sell which makes them one of the best upgrades to add value to your home.

Additionally, This Old House shares another surprising statistic: “an investment of around $400 or $500 dollars in landscaping, can bring a return of four times that.” When preparing your house for sale, don’t let the little things go unnoticed.

4. Install Hardwood Floors

In the 2017 Remodeling Impact Report by the National Association of REALTORS Research Department, “New Wood Flooring” ranked number four on the list of projects that appeal to buyers and number six on the list of projects likely to add resale value to the home.

In addition, the report continued to say that the average cost for installing hardwood floors is estimated around $5,500 but buyers can expect to see $5,000 (91% of the initial cost) returned in resale value when they put their home on the market. If you’re considering new hardwood floors in your home, install them with confidence knowing that this is one upgrade that definitely adds value to your house.

5. Repaint Your Interior

The Open Door Blog reports that “If you’re planning to list your home on the market, one of the easiest and most cost-effective ways that can help to increase its value is also one of the simplest: paint.” They followed this up with the surprising statistic that “Painting the interior results in a 107 percent on the return on investment.” Wow!

Some tips to keep in mind to make sure this upgrade adds value to your home is to paint your house in neutral colors. Going wild with bright shades or out of the ordinary choices can deter your home sale rather than help it. Buyers want to imagine their family living in your house and if that requires a whole new paint job for them it may be hard to do. Instead, paint your interior with neutral colors before you put it on the market for a quick and easy way to add resale value to your home.

These 5 Upgrades Can Positively Impact Your Home’s Value

Whether you’re buying, selling, or upgrading your house, The Degnan Group is here to help. Consider these five upgrades that add value to your home and then check out five more helpful ideas on the blog.

While we always recommend making a house your home and renovating it for your own enjoyment, keeping resale value in mind is a good idea as well. Luckily, these five ideas will help you upgrade your home and add value to while you do!

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