When you are trying to sell your home, making it market-friendly and ready for sale is essential; however, you do not want to put more money in than what you will get out of the deal. Knowing what home improvements add the most resale value to your home is crucial for a fast, successful sale. As the housing market is picking up again, having an understanding on cost versus return on investment is an extremely useful tool to have in your arsenal. We put together the top three projects to increase the value of your home and get the most out of your money this year. Let’s take a look:
Curb appeal directly effects how quickly your home moves off the market. When replacing your old siding on your home, you are proactively helping control energy cost of the house while improving its curb appeal. Finding a neutral color siding can help make your home appeal to the masses and can add up to 78 percent of the initial project cost.
Another way to boost your home value is finishing your basement. Adding a drop ceiling, drywall, and proper flooring can have a large return on investment. Assuring the buyer that there are no water issues is a comforting amenity that will help push the decision of them closing the sale. You can have up to a 75 percent return on the investment you do to finishing your basement.
People love hard surface floor for its assurance on timeless durability. Even though carpet can be a more affordable route to go, it does not show the same return on investment. If you can add vinyl planking or hardwood to your home, it is a significant investment. Consistency is also essential and profoundly influences the selling price. While this cannot hold an exact value of return on investment, it assuredly improves the overall aesthetic of the home and can help close the deal for potential buyers.
Always consider the return on investment. If your home is not moving on the market, it may need some freshening up to put it a tier above the rest. Your return on investment is excellent to add to the price but always should be weighed out on how much it will help the wholesale move and close.