Better Home and Gardens just released the results of a national survey asking two distinct sets of homeowners what they want to change in their home for 2018. The projects that add considerable value are big favorites of fix-it-and-flip it advocates – and they should be high on a homeowner’s list too. While most of these efforts will not recoup their costs, some will come close. The National Association of Realtors cites new siding, kitchen renovations (new countertops and state-of-the-art appliances) and new windows as some of the most beneficial projects, often recouping 80% or more of their costs during resale. Upgraded bathrooms, refurbished decks and energy-saving improvements offer a lot of bang for the buck too. For a more detailed list, see Top 5 Home Renovations for Your Money in 2017.
PeachtreeRemodeling magazine, in its “Cost Versus Value Report,” offers a region-by-region market analysis of specific projects and the paybacks of each in terms of selling your home. An example: Replacing old windows with vinyl models at a cost of $11,066 increased the resale value by $7,920. So, 71.8 percent of the expense is recouped. Older houses can often have a separate toilet and bathroom, which can put buyers off, so if this is the case in your home, you might consider installing a toilet inside the bathroom, if you have the space.
Splashing out on home improvements not only makes your house a more enjoyable place to live, but it if done right it is also likely to give its value a boost. Also topping the list for features that will sell your home fast was double glazing, home security systems and energy saving improvements , all set you make you a profit and add value to your home’s selling price.
Along with this article, read Buying an existing home, which may help minimise home improvement costs by explaining what to look for; Repairs and maintenance, which has guidance on general repairs and maintenance; and Renovations and additions, which follows this article. High-quality paints.Â Home Depot’s Behr Marquee , $43 per gallon, is our top-rated interior paint. For outdoor projects, Behr Premium Plus Ultra Exterior , $39 per gallon, and Clark+Kensington Exterior from Ace Hardware, $35 per gallon, offered the best protection.
Concurrently obtaining a remodel loan means long approval times, high-interest rates, and balloon payments. lenders don’t like to approve remodel loans at this time because your intended house, in its current less-than-perfect state, cannot act as proper collateral. Water-smart yard. Replacing a section of turfgrass with native ground covers or pea gravel will reduce the maintenance costs while adding visual interest.