4 Clever Home Improvements for Increased Property ROI
It’s one thing to be a homeowner but quite another to make money buying and selling property. If you aim to turn your first home into a stepping stone to bigger properties, then you need to few clever home improvements for increased property ROI.
Knowing what to do to increase the property value of your home is tricky when you don’t have much experience with the real estate market. We are not all made to flip houses. Some of us just want a lovely family home but realize that we need to take stepping stones to reach the property that we want down the line. Every time we buy and sell another property, we take another step along the path. At some point in the distance, we can see the house of our dreams. If we keep upgrading, we will reach it.
Here are a few suggestions for reaching that dream home sooner. But, of course, the trick is to maximize the return on your investment for every property.
4 Ways to Maximize Property Returns through Home Improvements
It’s important to remember that you will need to upgrade your home insurance if you make considerable changes to your house. You can learn more about home insurance and why you need it over with AHS. Here are four great ways to upgrade the returns you get for your property.
1. A Blank Canvas
One of the easiest things you can do to sell your house faster, and get the asking price the first time, is to neutralize the walls. A pale color brightens and cleans the place up. A fresh lick of paint makes a building feel new. The buyer can imagine themselves living in it right from the moment they walk in. It looks chic and modern. Painting the interior the exterior of the property has an ROI of over 100%.
2. A Room Addition
Adding a room to your home extends the square yardage and thereby makes an instant upgrade to the value of your house. The fun thing about room additions is that their value to the property changes depending on what room you add. First, double bedrooms or attic conversions can add the most. Next, a bathroom or kitchen addition could add as much as 65% to the house’s overall value.
3. Kitchens and Bathrooms
The kitchen and the bathroom are the two areas of the home which could put off potential new buyers. Upgrading these areas doesn’t have to be expensive, either. Start with painting the walls and consider coating the cupboard doors. Replace the countertops and think about tiling or splash panels. This can be costly, but a new bathroom or kitchen puts a few thousand on each home.
4. Energy Upgrades
With the fuel cost now what it is, solar panels and windmills make a welcome addition to any buyer. If your home comes with the support of rooftop-mounted solar panels, the buyer knows they will save on electricity for years to come. This sets you apart from the next home for sale, urges a quick sale, and pays off for your pocket and the planet.