Home Improvements that Actually Increase Home Value

Home Improvements that Actually Increase Home Value

May 30, 2016

Home renovations and improvements are usually the first thing homeowners embark on when they are looking to improve the value of their home. However, not all renovations are created equal. If you are looking to renovate strictly to improve value, follow these tips for improvements that actually improve home value.

1. Kitchen (but don’t spend too much): The kitchen is a great place for improvements. It is often the first room potential buyers will really look at. An outdated kitchen is often seen as a huge expense and inconvenience to buyers. With that said, some sellers go overboard when updating a kitchen. If your home value is $200,000, don’t spend $80,000 on a new kitchen – it will not increase your home value that much. Instead, spend $10,000-$20,000 making useful improvements to the layout, countertops, and appliances.

ROI: 82.7%

2. Front Door: The front door is going to be the first thing people see. Invest in a beautiful door to instantly improve your home’s exterior and attract buyers.

ROI: 96.7%

3. Garage Door: Just like the front door, the garage door is usually highly visible. A new garage door can drastically enhance the aesthetics of a house. At the very least, give your garage door a fresh coat of paint.

ROI: 83.7%

4. Finishing a Basement/Attic: Rather than paying a ton of money to do a room addition to your home, work with what you’ve got! Creating a finished room out of a basement or attic will improve the value significantly, without requiring you to dish out a ton of money for an addition.

ROI: 84.3%