When you are considering selling a house, you generally want to invest time in making sure the house will have the best sale price possible. Doing that often requires renovation, but the problem is – which renovations? If you end up spending more on the renovation than you get in return then it really was not worth the expense. However, you are greatly interested in everything that will help you turn a profit on your eventual resale. To help you out with that, I’ve compiled a guide that will highlight home improvement projects that pay for themselves at resale (or sometimes even before).
One of the first places to start in your home improvement endeavor is the bathroom. If you’re willing to invest in a mid-range remodel that replaces the toilet, light fixtures, and sink you can see massive returns on your investment. The average for bathrooms is a recoup of $1.71 in value for every $1.00 spent on the project. This makes bathrooms one of the few projects that pay off at sale time. Even better, if you opt for a water-saving toilet, LED lights, or other efficient fixtures, you can recoup losses over time before sale through reduced energy and water consumption.
Another improvement that yields a net positive return on investment is attic insulation. Adding fiberglass insulation to an attic can yield an average return in sale price of a little over %116. Keeping your attic well insulated can also help reduce your cooling costs as the attic will trap less heat over time. If you’re looking to boost your home value further, you can convert the attic into a bedroom, and get as much as an 84.3% return on your investment.
Steel Front Doors
Another project that yields a positive return on investment is simply replacing the door. Investing in a steel front door can yield an average of 101% return, making it a worthwhile investment for those looking to improve their bottom line. When you recognize that the home’s entryway is the first thing anybody sees when looking at a new house, it makes sense that this part of the home would have such a major impact on final property value.
Garage Door Replacement
Another simple improvement is the garage door. Replacing the garage door on a house can yield a return of 91.5%. Improving the garage door is a great way to boost your property value and thus the final sale price. If you can’t afford the complete replacement, sometimes a fresh coat of paint will be all you need.
Repaint the Interior
A fresh coat of paint can work wonders for maximizing your home property value. By investing in a paint job, you will see that final sale price boost. We recommend going for neutral colors so if the new owner wants to make a change, they have the freedom to do that.
There are many other projects that you can invest time in that will make your home sell for higher. Of course, every property is different, and some projects are best handled by professionals. If you’re interested in selling your home, give me a call, and I can give recommendations on ways you can help squeeze a little more value out of your home.