While the housing market is beginning to show signs of slowing down, the typical property still remained on the market for a mere 17 days.
If you hope to sell your home soon, now is the time to jump in. However, before you do, you might want to think about working to increase home value. There is a multitude of ways to increase home value, which then helps you to raise your listing price.
In this article, we’ll take a look at the top five home improvement projects you can tackle to boost the value of your house:
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1. Replace Your Roof
Studies have shown that buyers do not want a worn-out roof they’ll have to worry about replacing in a year. If the shingles on your home are looking a bit worse for wear, then think about replacing your roof. Once buyers see that the home has a brand new roof that will last a solid 15 years or more, they’ll feel more confident about making an offer.
2. Replace the Garage Door
One of the easier home upgrades you can tackle is putting a new garage door on. What increases home value but has a low end for project costs? Garage door replacement. This not only will update the look of the home and help boost curb appeal, but you’ll also recoup almost all of the costs put into the upgrade.
3. Add Stone Veneer
If your home has boring siding or old brickwork, consider installing a manufactured stone veneer. Stone veneer adds a timeless, classic look to any home. People also love the stone look. Adding stone veneer will give you an average home value increase where you recoup about 92% of its installment cost.
4. Upgrade the Front Door
Does your front door look old and drab? Can you feel a draft coming in by the front door? If so, a new door can work wonders. Not only will it improve curb appeal, but you’ll also help boost the energy efficiency of the home.
5. New Wood Flooring
When the interior of your home has old carpet or worn tile, a new hardwood floor can work wonders. Studies have shown that homes with new hardwood floors are far easier to sell. According to NAR, you stand to make back 106% on the hardwood floor investment.
Increase Home Value to Improve Odds of Selling Fast
As you can see, there are many projects you can tackle to help increase home value. These projects can range from being quite expensive and requiring thousands of dollars to needing a few hundred bucks.
Keep in mind that just because a home improvement project is costly does not mean you’ll recoup the same amount or more in sell price. Not all home projects are created equal when it comes to increasing home value. Do your research to discover which home improvement project would work best for your home and compare it against the potential ROI.
We hope you enjoyed this article and found it helpful in discovering a potential home improvement project. Before you go, be sure to browse our site for other great reads!