Home Renovations That Pay Off During Resale – here’s what you need to know.
home renovations that pay off during resale
Home Renovations That Pay Off During Resale
Let’s face it; you’re probably not going to stay in your current home forever, let alone the entire terms of your mortgage that seemingly lasts forever. But there are some home improvements you can enjoy while you’re living there that give you added value when it comes time to move on. These home improvements will nearly always increase the value of your property, so they’re a good idea for value-conscious homeowners. There are a wide variety of home improvements that maintain their value in relation to the cost of installation. Let’s take a look.
Most Americans spend 40% of their time home in the kitchen, so why not have a great one? A kitchen model will nearly always add value to any home, and they’re not as expensive as you think they are. Adding more cabinetry and replacing old laminate countertops can go a long way to modernizing a space. You can add energy-efficient appliances and a new sink with updated trim to complete the look for a few thousand dollars. New paint and wall coverings can be added for a total remodel, but replacing cabinets and countertops should be the priority.
Home Renovations That Pay Off During Resale – Home Lifts
Home lifts add value to a home when incorporated in a modern way. They bring additional functionality for multi-story homes. Hydraulic lifts can be hidden to keep them out of sight, while pneumatic vacuum lifts provide an interesting look for a more modern home. Home lifts provide easy access to the rest of the home for seniors, making them a valuable addition to any home. If you’re considering adding a home lift to your house to increase its value, speak with an expert to determine when best to discuss installing a home lift.
Updating the outside of a home can increase the curb appeal by much more than the monetary amount it adds. New siding is a considerable investment from any homeowner, but it makes a home look new and fresh. If your siding doesn’t need to be replaced, a good power wash might update the appearance and give your home a much-needed updated look.
Renovations that pay off during resale – Deck Addition
For homes with enough yard space, a deck will nearly always add value to the house. Adding a 16’ x 20’ deck with enough space for a patio for entertainment is a considerable undertaking, but well worth it in the end. Make sure you have the deck installed by a licensed professional who uses properly treated wood, so the deck remains in good condition.
Stone Veneers – Home Renovations That Pay Off During Resale
If you’re tired of the vinyl siding look on your house and want to set it apart from the neighborhood, consider a stone veneer upgrade. Replacing vinyl siding with a manufactured stone veneer gives your home a modern appearance of stone without changing anything about it. In fact, this upgrade is one of the most cost-efficient upgrades you can perform on your home. It is estimated that a stone veneer will retain around 98% of its value in resale value added to the house.
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I hope you have enjoyed this post on home renovations that pay off during resale – you might also like my post on renovation tips for retirees
as well as my post on unique renovations on a budget
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