Top 7 Home Improvements for Resale Value

One of the many reasons people choose to buy a home is the ability to sell that house to make a profit. Homeowners are not always sure of the best home improvements for resale, however. Home renovations and updates are time-consuming and can be expensive. So you need to make sure you know the best home improvement investments for you.

For starters, you can always look at current trends when trying to determine the best home improvements for resale. Those with cable television and streaming services can confirm that we are living in the golden age of home improvement. Homeowners interested in the best home upgrades have all kinds of inspiration surrounding them.

But the quest for quality home improvement ideas can almost feel like drinking from a firehose. Too much, too fast. Let the experts at TwinCity Lending help you narrow it down to seven of the best home improvement investments.

1. Garage Doors

Garage doors might not be quite as fun as shiplap in the bathroom or farmhouse tables in the kitchen. But even with the lack of glamour, garage doors are a sound investment.

If your home has garage doors that are visible from the street, replacing the doors can vastly increase its curb appeal. You will likely recoup about 98% of the cost of this project when you are ready to sell the home. There are many door and window styles, so you are sure to find something that enhances the look of your house.

2. The Kitchen

Homeowners who want to invest in the best home improvements for resale should consider a kitchen remodel. Even minor upgrades can pay big dividends.

The kitchen is the heart and soul of most homes, and it often serves as the family command center. From meal preparation to homework to entertaining, the kitchen meets a lot of needs.

Potential buyers typically have an updated kitchen high on their list of must-haves, so it is wise to get your space ship-shape. Homeowners usually recover about 80% of the cost of a minor remodel and about 60% of a major kitchen overhaul. 

Whether your kitchen remodel is major or minor, the decision is one of the best home improvement investments. A significant kitchen renovation is worth about $40,000 when you sell the property. A smaller upgrade can add between $15,000 and $20,000. And when you consider that homes with updated kitchens tend to sell quicker, a kitchen renovation is an excellent idea.

3. Deck Additions: Think Outside the Box

When looking at home improvements for resale, think about every part of the house, inside and out, front and back. A deck addition is an excellent way to increase your home’s resale value.

Decks are high-profile, and outdoor entertaining is extremely popular. The addition of a deck can add a resale value of around $10,000. Homeowners who opt to build a deck recoup up to 80% of the cost. If your home already has a deck, spending some money to give it a facelift is worth every penny.

4. Go Green: Save Money and the Planet

Installing energy-efficient appliances has multiple benefits. You can feel good about conserving energy, while also driving down your utility bills. In addition, your state may offer tax breaks to homeowners who install energy-efficient appliances.

Prospective buyers will appreciate your commitment to the environment. Many house hunters specifically look for homes with green touches, so your home will be able to stand out from the competition.

And appliances aren’t the only environmentally-friendly improvements. Consider installing new windows to help keep the house warm in the winter and cool during the summer. New windows can add about $11,000 to your home’s resale value, and have a recoup rate of around 75%. 

5. Make an Entrance 

In addition to decks and garage doors, another outside home feature that increases curb appeal is the entrance. Take a look at your front door and think about someone’s first impression. Would it appeal to a potential buyer? Is it dingy, dented, or out-of-date? 

Assess your front door to determine whether it needs a paint touch-up or maybe even a replacement. Front doors are one of the first things that house hunters notice, so this area is worth your attention. If you have a front porch, make sure it is in good repair and consider restaining or repainting to freshen it up. 

6. Make Every Side Your Good Side 

Damaged or worn siding will give prospective buyers an immediate bad impression. They are likely to view the home as a fixer-upper when shabby siding is on display. Siding replacement offers a high return on your investment since you will recapture about 75%. New siding is a worthwhile investment whether you plan to resell soon or not.

7. Bathroom Updates or Additions 

When it comes to the best home improvement investments, bathrooms can reign supreme when done correctly. For updates and renovations, the key is to make modest, good-quality changes. 

A $70,000 bathroom remodel is unlikely to pay off in the long run. But spending a fraction of that to update things like the fixtures, flooring, and vanity can give you a substantial return when you sell. 

One time that it does pay to tackle the bathroom is if you add a new one altogether. Taking a home from a one-bathroom listing to a two-bathroom listing adds a significant amount to the resale value. It also makes it much more likely that your home will sell fast.

Ready, Set, Go!

If you are ready to sell your home and move into something new, reach out to the concierge brokers at TwinCity. We are on your side throughout the whole process.

And for help financing your home improvement projects, contact us for information on a cash-out refinance. One regret homeowners often face is that they wait until they are selling to make improvements. Why not do them now so that you can enjoy them for a while?

TwinCity Lending offers competitive interest rates for home loans, home equity packages, and refinance options. Our lending professionals can help you assess the right tool for you.

 

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