Home Updates That Actually Make You Money
What’s more clever than getting money back for the money you spent? It’s a no-brainer that if you can invest in something and make money off it, that’s a good deal. This concept is true with your home, too! Investing in certain areas of your house can actually make you money when you finally go to sell. Even if selling isn’t your goal right now, it’s handy information to know and could be something you want anyways. There’s really no better leveraging tool than the concept of free money.
If you’re looking to do some home updates that will make you money come selling time, here’s what you need to know.
One of the most important things to consider when doing home updates is curb appeal. Curb appeal is a big deal to potential home buyers and that’s why it needs to be a big deal for you, too.
Curb appeal means that making renovations to the roof, siding, and front doors and windows are all good ideas. Similarly, landscaping, the driveway, and the garage door are safe bets for your investment too. The nicer it looks at first glance, the better. Landscaping can raise property value as much as 12%. This is where the “wow-factor” really kicks in. That first impression may have a big impact on how much your potential buyer is willing to spend.
Inside the House
While first impressions are important, you’re not going to want to stop just there. Inside the house, there are a few key places where investments almost always yield returns.
The kitchen is one of the rooms that will yield you the most return value. However, just because the return may be high, it doesn’t mean you need to spend a lot of money. The minor remodels often result in the best returns on investment. Repainting, refinishing cabinets or countertops, and repairing appliances can offer the best return in the kitchen. Rather than doing an extreme makeover, look for simple fixes or changes that make a big difference.
Bathrooms are another area where simple investments can yield a big return. For example, simply changing up the style of the room with faucet and fixture changes to a more desired or common style can make you money. For example, 29.51% of bathrooms have a contemporary design aesthetic, so this may be a good option for you to try. Similarly, adding a new bathroom can result in a big return value. Bathrooms are very sought after, so having an additional bathroom is almost always a good addition.
Backyard charm is going to have just as much of an impact on a potential buyer as the rest of the house. It’s important, for this reason, that you have an enjoyable recreation area for families to spend time together outside. A new deck, patio, or pergola can increase the value of your home and increase your enjoyment, too. If you’re hoping to make a little money off your house when you sell, this is a crucial investment area. The average return on investment for a deck is about 75%, which is well worth it.
When it finally comes time to sell, be sure to keep these tips in mind. If you want to get the most for your house, these home updates can help you do that.