Oct 5, 2022

The Top 5 Home Improvements That Increase the Value of Your Home

The Top 5 Home Improvements That Increase the Value of Your Home

Meta description: The five most popular investments for homes in terms of return on investment are replacing garage doors, replacing wood with composite decking, remodeling kitchens and basements, and installing new siding.

Many homeowners view home improvements as sunk costs – things that will never be recouped.

But that’s not really how it works in practice. If you spend money to improve your home, it will increase the value of your property when you come to sell it – sometimes by more than the amount you spent! Whitney Homes has everything you need to increase the value of your home by making improvements to it.

Here are the five best home improvements that will cause you to have a higher selling price for your house.

#1: Updated Garage Door

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Buyers understand that garage doors are nothing more than an expensive hassle. They are constantly breaking down, because of all the complicated gears and motors that they contain.

There are some people who just get excited when they see a new door being installed in their garage. They get very excited because they think that they will get a huge discount for doing this. Many buyers are thrilled to be able to buy a new garage door as soon as they move in. They are excited to save money by not having to call a repair team out within a month. Installation of a new garage door can cost you less than $1,500, and still give you a good profit. That means that the real price (if you do wind up selling your home) of a $1,500 door could be as little as $20.

#2: Wood Deck

Decking made from wood or composite materials is becoming increasingly popular. It’s taking market share from traditional patios. Homeowners enjoy having guests for dinner or having a picnic in the back garden while they survey the land. What a wonderful experience to be able to spend some time on a raised platform, gazing at the mountains and chatting with friends.

But a deck is worth more than just looking good. This is why, like garage doors, a good investment can deliver impressive returns.

What you get back depends on the property you purchase and the location. However, you could get back up to 83 percent.

#3: Kitchen Remodel

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When buyers are buying a new property, the kitchen is often a big deal. They either love it or hate it! It’s either they love their kitchen or they hate it.

Traditional estate agents wouldn’t recommend full kitchen remodels, because it was thought that selling the house would bring the most money to the seller. Some estate agents didn’t encourage homeowners to spend a lot of money on a full-blown kitchen remodel, but they suggested focusing their money elsewhere or getting a quick kitchen refresh.

But new research suggests kitchen renovations may actually be beneficial. Remodeling Magazine found that homeowners can expect to recoup 63% to 82 percent of the costs of their kitchen renovations when they sell.

#4: Remodel The Basement

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Basements don’t get much love from a lot of modern homeowners because they are too dark and smelly. There are many reasons why basements are unappealing – high radon levels and general murky conditions make them unattractive – except that they could be used for storage.

If you look at return-on-investment statistics, investing in a basement is like investing in a luxury car. A well-finished basement renovation can give you back 75 percent of the money that you invested. That’s not bad.

#5: Exterior Siding

Lastly, you may want to think about investing in exterior siding. A new siding on your home will increase the value of your home by about 75 percent. Installing new siding on the outside of your house can boost the curb appeal of your property by about 30 percent, encouraging potential buyers to spend more money!

The average cost of adding siding to your home is around $12 per square foot. However, the results are very impressive; they are estimated to be in the region of 75 percent.

Find out how you can sell your house at a higher price and increase its value by visiting our website!