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When making home improvements, it’s very important to evaluate how they will affect the value of the property. If you have no intention of selling the property and want to live there for the rest of your life, then making improvements for your own enjoyment is fine. But if you intend at one point or the other to sell the property and turn a profit, you have to consider which option will add the most to your home’s value and which ones will allow it to sell faster. Let’s take a look at some of the renovations that could increase the value of your property and give you a better return on investment.
Installing
New Siding
Not only
can re-doing your siding add to the value of your property, but siding that
looks like it has deteriorated will be a sure deterrent for prospective buyers.
And it’s a renovation that doesn’t cost much either. You could have vinyl
siding installed for as little as $11,000 and you’ll be able to recuperate most
of these costs upon sale.
Things like
insulated vinyl siding will be a winner, especially in markets like Sacramento,
since it helps prevent damage and fading from UV rays. If this is where you
live, you should consult with a reputable contractor who does siding Sacramento. They will be
able to give you the best options for your budget and the kind of return you’re
expecting.
Remodeling
the Kitchen
Kitchen
remodels are usually winners with most buyers, but they also can get tricky.
While minor and reasonable remodel projects can work, you could easily go
overboard.
Instead,
you should stick to doing things that won’t break the bank, like replacing
lighting fixtures or adding features like counter lights, changing or
repainting the cabinetry, adding new countertops, or going for new stainless
appliances. What’s great about adding new appliances is that you’ll get to take
them with you once you leave, even though they’ll make the kitchen look better
to buyers. Even doing simple things like changing the range or adding colorful
window treatments could do a difference.
Basement
or Attic Conversion
People
demand more from their homes nowadays, and transforming unused spaces like the attic or a basement into actual
living spaces could be a huge selling point. People like the idea of being able
to transform a room into a playroom, office, or study. And this is a much
better idea than adding an extra room to the house, since you’ll have to pay
much more and deal with the foundation costs, framing, and dirt work. Adding a
new room could cost you double what you can expect to convert a room, and you could
recuperate up to 83% of the cost of a room conversion upon sale.