Purchasing a home is a huge investment so when it comes time to sell, you may be thinking of ways to make back your initial down payment, mortgage payments, and any additional money you’ve put into the property. While some renovations will increase your home’s value, others will not.
Four renovation ideas that increase the value of your home
- Skylight installation – An instant way to increase the value of your home is to add natural light and energy-efficiency to your property.
Natural light is a huge selling point and buyers want to purchase a property that’s going to make them smile when they wake up and smile when they pay their bills each month.
There’s no greater feeling than paying your bills and realizing how much money you saved by having an energy-efficient home.
Before you call a skylight installation company, you’ll want to do a bit of research to find out which option of skylights is best for your home. Options include automatic skylights, standard, solar power, rain-sensor, tubular, and energy-star certified.
- Adding a deck – Providing the next homeowner with an area where they can entertain is a huge benefit to homebuyers.
It’s been noted that homeowners who have installed a wooden deck off their home have seen a 106% return on their investment. Wow!
- Painting the exterior/minor exterior updates – Let’s face it, if your home looks rundown, it’s likely going to come with an asking price that’s less than stellar.
That means you could potentially lose money on the sale. Instead, invest in putting a fresh coat of paint on your home and boosting its curb appeal.
Real estate professionals often recommend homeowners always update their curb appeal, so people want to walk through the front door. First impressions are everything, and with homes – that still stands true.
- Updating your kitchen – If you’ve ever watched HGTV or read a home magazine, then you already know that kitchens and bathrooms sell homes.
With a small investment, you can update your current kitchen to look brand new. Budget-friendly ideas include:
- Painting your cabinets a new color
- Changing appliances to stainless steel or energy-efficient
- Updating flooring
- Changing out countertops or backsplashes