Some home improvements you can do yourself, others will require a professional’s touch. Either way, investing time and money into the right type of home improvements can really pay off when you resell the property. These seven ideas are all relatively simple to implement whether you do it yourself or you hire someone else to do the job and every one of them can bring real added value to your home.
1. Light Bathroom Remodeling Project
If you’re considering a remodel, the place to start is the bathroom. Replacing items such as the tub, the toilet, the tiling, vanity, various fixtures and the floor could run you about $10,000 when all is said and done. Caulk is one of the most common elements that can turn unsightly, but luckily re-caulking the tub is very easy to do. Just use a softener to remove the old stuff and fill the tub with warm water when you’re finished putting in the new stuff so that it stretches at the time it dries. You don’t even need to replace the tub either, you can just give it a new aesthetic through re-glazing. Don’t forget a new coat of paint and remove and replace old, dated elements in the bathroom so that they look right in the new surroundings. This type of remodel can yield, on average, more than 100 percent of a return when you sell your home.
2. Exterior Landscaping Project
This is another project that is relatively easy to do yourself and it can bring about a return of around 100 percent on your spend at the time of resale. Where you focus your attention is up to you, but plan on spending roughly $5,000 to do the job right. Try some brightly colored plants and shrubs near the front door and you can play with the height of your plants to get the maximum effect. Be sure not to let the home get overrun by too much plant-life as overgrown shrubs and trees can actually bring down the look of the home, making it appear poorly kept by the owners. Start cutting and pruning to give your landscaping the type of manicured look that will make the neighbors, and potential buyers, stand up and notice.
3. Kitchen Remodeling Project
Unless you’re redoing the entire floor plan and tearing up all of the existing fixtures, a small remodeling job should cost around $15,000 and you could probably get almost all of that back when you resell later on. Most homeowners report a return at nearly 99% and you can’t go wrong with those kind of numbers. So how far do you have to go with your updating of the kitchen? Refacing your cabinetry, replacing the oven with a wall model, putting in a new stovetop as well as the sink and other fixtures that are faded, out of date, or just don’t work correctly anymore. A brighter paint scheme will give the kitchen a new look, which might also require you to sand and repaint the existing cabinets and drawers. Depending on the type of material you have on the floor, you could put a new layer over it without spending the money to rip it up and replace it entirely.
4. Bedroom Attic Project
Turning your attic into a bedroom can yield nearly all of your spend back when you resell and the percentage you could receive varies based on the region of the country where you live, but it could be as much as 100 percent or more. Converting the attic usually means finishing it first, adding more insulation so that you’re not spending more to heat and cool the room, and putting in a bathroom with a shower, some windows, and closet space. Speaking of regulating the temperature up there, make sure your HVAC system can be effective in this additional room. In case your current unit is insufficient, you may need to consider adding a second one. This will obviously affect the price of your project.
5. Deck or Patio Project
Not only will a new deck or patio bring added value to your home, but the idea of having an outdoor area to relax and entertain will bring you enjoyment while creating a greater interest in the home from potential buyers. Most homeowners want a deck or patio where they can enjoy the outdoors and implementing this new add-on to the house can yield up to 90 percent of recoupment, on average. For around $11,500 you could put in a wood deck that has been pressure-treated at a size of about 16x20 feet or smaller, depending on the size of your home. Be sure to add some landscaping, railings, and use small decorative accents to focus on the little details and hide unsightly components of the home’s exterior.
6. Window Replacement Project
Based on how many windows you choose to replace and the size of the windows, you could spend around $10,000. But where you live is also going to dictate the amount you might recoup on your expenses, up to almost 90 percent. Big cities like Chicago, New York City, and San Francisco can yield the highest return, however, just because you live in a big city doesn’t mean you’re going get a lot of money on a resale. Cities known for high temperatures a majority of the year will bring down your rate of return considerably, even if your new windows use materials that are meant to reflect heat and cut down on UV rays getting inside your home.
7. Living Room Decoration Project
Sometimes all you need to do is brighten and update your living room with new decor and details. Little things like crown molding, light switch and outlet covers, even a vase of fresh flowers or a centerpiece on the coffee table can all bring big changes without spending big bucks. Even the way you stage the furniture in the room, positioning it away from the walls to give visitors the illusion that the room looks bigger than it is. You could spend a few hundred dollars on this type of renovation and get back nearly two thirds of those costs in a resale, on average.