Consider These 7 Major Upgrades To Raise Property Value
A home is the biggest investment most people will make in their lifetime. For this reason, some homeowners think of ways to get the most return on their investment, especially when they’re planning to sell their property.
More often than not, most homeowners opt for remodeling projects as the best way to raise the value of their property. Unfortunately, this isn’t always the case. Instead of going all in on upgrading your house, you must know which home improvement is worth it.
If you’re confused with or are unsure of the available options, here are some of the major upgrades you can consider to raise property value:
1. HVAC System
One of the major upgrades you can consider is replacing your old HVAC system. Whether you’re selling your property, investing in a new HVAC system is worth it. After all, it’ll be frustrating to have a system that doesn’t keep your house warm during winter or cool during summer.
If your house was constructed without air conditioning years ago, consider installing a ductless air-conditioning system in your house, which is an affordable option. However, if you don’t know what type of HVAC system to choose, you can always work with professionals who will help you select the best one for heating and cooling your home.
One of the major changes in construction and home floor plans in recent years has been the evolution of the kitchen as the center of a property. Gone are the days of gallery-style kitchens. These days, eat-in nooks and big kitchens with islands are the latest trends. Kitchen appliances have also improved. In a newly constructed house, it isn’t uncommon to find professional-quality kitchen appliances and stoves.
To add value to your property and keep up with the trends, kitchen upgrades are your best bet. Depending on the scale of your preferred details to revamp your kitchen, they may boost your home’s value.
When it comes to kitchen upgrades that don’t involve major remodeling work, you can consider the following:
- Replacing or adding lighting fixtures
- Replacing old appliances
- Refinishing or replacing flooring
- Refinishing kitchen cabinets
- Updating the sink
- Adding new countertops
Generally, the more extensive the kitchen upgrades, the more likely you’ll get a better return on investment. In fact, kitchen upgrades may return about 50% of your investment.
Another major upgrade to enhance your property value is to replace your old siding. It’s beneficial to keep your house cooler in the summer and warmer in the winter.
Your home exterior is also crucial to keep hot air from coming in during the summer and rain or cold during the winter. Replacing siding even reduces your energy costs, which have a big impact on property value once you decide to sell.
Same with kitchens, expanding or updating bathrooms, especially master bathrooms, can increase the property value significantly. At present, more buyers seek a master suite with sinks, more square footage, and large showers.
Whirlpool tubs, heated floors, and steam showers are lovely extras as well, and there must be plenty of storage. For bathroom flooring, the traditional ceramic tile floors are highly recommended since they tolerate water better than linoleum or wood.
While having your roof redone on your house isn’t exciting, it’s a crucial maintenance task. This is especially true in places that experience intense hail storms. Moreover, old roofs pose the risk of enabling water to seep through, resulting in expensive structural damage.
If you don’t know whether your roof needs to be replaced, look for a roofing company that offers roof inspection for free. Just make sure to compare the roofers in your area before you settle with one.
Once you decide to replace your roof, expect to recoup most of its cost when you decide to sell your property. It’s because most buyers prefer a house with a new roof instead of a property with an old one.
Why opt for another home addition if you already have an unfinished basement? A basement can be converted quickly into barrooms, leisure areas, media rooms, or additional bedrooms. You can even make it a rental unit if you have a separate entry for it. Plus, a finished basement brings in more money once you sell.
Installing new lights in your house is one of the ways to add value to your property and update your home’s look. The variety of lighting fixtures is extensive, and many can use new energy-efficient LED bulbs, which will help you enjoy savings on your monthly utility bill.
Another way to upgrade your home’s lighting is to control your lighting and add options through the use of apps and dimmers. Replacing the existing wall switches with dimmer controls allows you to tailor the lighting in your house for different moods or times of the day. You may add smart lighting to your house too.
With the above upgrades, your property will definitely get a higher price tag once you decide to sell it in the future. Depending on your budget and preferences, try to avoid doing major upgrades on your own and work with professionals who are knowledgeable about renovations. This way, you can be assured that you’ll get satisfactory results to raise the property value effectively.