When it comes to home improvement, the majority of upgrades may be beautiful, and many offer comfort and serenity for homeowners, but they don’t increase the value of the home. According to reps at a top real estate company in Texas, the most important approach to increasing a home’s value is keeping in good shape.
Nothing will decrease a home’s value quicker than dust, grime, and clutter. Practical tips like vacuuming, dusting, and cleaning all surfaces help beautify a home and translates to visitors all the effort you’ve put into the upkeep.
Which Home Improvement Projects Boosts Value
Not all the investments made to a home increase the value of your property. Some we could even say are more “sentimental investments”, because their value is more significant to you than to the market.
It’s important to understand that property improvements are not a dollar-for-dollar investment. For example, if you fixed the roof and it cost you $ 10,000, that does not mean that your property is worth $ 10,000 more in the market. Of course, there are certain upgrades that always boost value. Even minimal investments, like landscaping and painting will offer a three percent return.
So where do you make the most money in home improvement projects? Real estate agents say when it comes to upgrading, start with the kitchen.
If you plan to move within the next 3-5 years, and you want to remodel your kitchen, invest in quality, upscale appliances that attract a lot of buyers. In general, the excess of personalization in a home distances buyers. For example, you may love your $ 10,000 commercial stove, and Tuscany’s top-of-the-line kitchen tiles, but it will not translate into $10,000 added to the sales price. You can recover a good amount of money on a kitchen remodeling, but expensive, luxury gourmet kitchens will not attract a buyer willing to pay more than competitive homes in your neighborhood.
Room Expansions Bring More Value
Adding a room to your home may cost you a few thousand dollars but adding a new master suite to the home can net you almost 66 percent return on your investment. Experts say if you add a family room, you can expect about 62 percent.
Real estate agents also point out how energy efficiency yields a good return on investment, yet when it comes to home improvement, it’s still being neglected.
The consumption of energy in the home has become a bigger conversation in the last decade. It’s become easier and cheaper to make a home energy efficient these days, yet many homeowners don’t look at this as a way to boost resale value. Solar panels, energy efficient windows and appliances, and even turning your property into a “smart home” can translate into huge savings and have become a big selling point when buying a home.
It’s perfectly fine to upgrade your home with state of the art improvements, but there’s no guarantee you’ll get a return on your investment. Unless you live in an exclusive neighborhood and your upgrades are on par as your neighbors, you may not get the rewards you seek.