There are many reasons people decide to move: job, family, desire or a better opportunity. Whatever the reason may be, if you own your home but are planning on selling it, then you most likely want to get top dollar from your investment. Unfortunately, to make money from the sale of your home, you may need to put some money into it.
This can seem counterproductive until you realize that investing more money can increase the home value significantly, especially in preferred neighborhoods. The key to effectively spending money on a house you are planning to sell is understanding the ROI of home improvements and which improvements will increase value the most.
Beyond understanding the elements of a home that add the most value, you will also need to understand the neighborhood where your house is. For example, while you may be a car buff, not everyone needs a six-car garage. However, in some affluent areas in the country, buyers may expect this feature.
Also, while you may have no need for multiple bathrooms, an area with many family homes may demand more than one to be competitive. While you are under no obligation to abide by common demands, you also need to understand that ignoring features that are typically found in homes in your area may affect your sale price. Therefore, consider the following home improvements to add the most value to your current home while planning any home remodeling Houston.
Home Maintenance
While not the most exciting home improvement project, maintenance is something you should consider before pouring any excess funds into new or updated kitchens and baths. How old is your roof, HVAC system and water heater? How long has it been since your plumbing and electrical systems were inspected?
Keep in mind that people looking for a home will have a limited budget and they will likely appreciate seeing “new roof or HVAC” on the listing as opposed to “updated kitchen and bath.” However, that doesn’t mean you should go and rip off a perfectly good roof. Instead, make sure that your home is in good working order before considering more expensive renovations.
Kitchens and Bathrooms
It should be no surprise that in the realm of Houston remodeling, kitchens, and bathrooms reign supreme when it comes to ROI. These rooms are among the most expensive to renovate, but because of the amount of time people spend in them, they also have a higher demand in value.
The reason these areas are so expensive to renovate is the number of utilities and plumbing that must be worked into the designs. However, the return on investment can be anywhere between 10% to 20% or more, depending on the space and amenities. Always remember that spending too much on a renovation can price you out of the market, meaning that you may not be able to sell your home for a value you are happy with.
Landscaping
Many people have heard the phrase curb appeal, but only few understand what it means. Curb appeal refers to the landscaping and appearance of the exterior of your home.
Think of it as the first impression people get of your home. If the landscaping is bad — uncut grass, cracked driveway, chipping paint — then homebuyers are likely to drive right past without a second glance. However, if you take the time and invest the money to present a well-manicured home with minimal or no exterior issues, then you can demand a higher price point.
Additions
When looking for the biggest bang for your buck while home remodeling Houston TX, don’t overlook a room addition. Square footage is the most significant indicator of home value aside from location. Therefore, if you have the funds to add an extra bedroom, bathroom, or enlarge the kitchen, then you will probably see a significant return.
Upgrades
Significant construction expenses are not the only way to add value to your home. You can also upgrade systems. For example, going to an electric or tankless hot water system can improve home efficiency and overall home value. If you can find energy-efficient upgrades, then you may see a good ROI.
Home renovations Houston are done for many reasons. If you are looking to invest in your property for resale, then contact Hestia Construct ion & Design for advice on the projects that will add the most value.
Home Improvements With the Biggest ROI | Hestia Construction & Design — Houston, Texas
