When you are looking to do renovations to make your home more marketable to potential buyers, you want to do projects that add the most value relative to what you spend. Many people mistakenly think that they have to do big projects to add value to their home, but the opposite is generally true. Some of the projects that add the most value to your home are relatively minor. Here are some of the best projects for adding value to your home.
One of the best projects for creating value for your home is one of the smallest. Replacing your front door will cost you less than $1,000 and will boost your home’s value by about what you spend on it. That’s proof that you don’t have to spend a ton to add value to your home.
Another rather small project that will give you a good value boost is to repair an existing deck or add a new one. Deck projects typically return between 90% and 100% of what you spend on them in added value to your home, and they also will increase the amount of enjoyment you will have.
If you want to get a little more ambitious with your projects, minor kitchen and bath remodels are among the best projects you can do. Minor kitchen and bath remodels both tend to recoup around 80% to 85% of what you spend on them, but the keyword is minor. You want to stick to things like doing a ceramic tile installation or changing your backsplash tile. You also might want to change out your appliances and fixtures. What you don’t want to do is do a massive remodel that involves moving around water lines and doing a lot of custom installations. There’s a threshold at around $10,000-$15,000 where you start getting diminishing returns the more you spend. So it can be better to do simple backsplash designs rather than an ornate backsplash. And if you decide on a ceramic tile installation, keep it simple and stick with bathroom floor tile. Don’t go overboard and put tile on every inch of your bathroom walls.
These are just a few of the ideas for how to do renovations that add value, and there are many others. Just try to keep what you do neutral so it will appeal to a wide variety of potential buyers. Read more blogs like this.