To make money, you must spend money. This oft-uttered adage has found its place in the book of eye-rolling clichés, but it is no less true; if you want to reap the rewards, you must be willing to invest.
Your home is one of the biggest investments you can make, so make the most of it! If home renovations make your stomach churn, never fear; there are plenty of minor changes you can make that won’t break the bank (and will be more beneficial than some major changes). Whether you’re looking to sell soon or you’re interested in some home upkeep, here are renovations that gain the highest return.
First impressions stick, which is why curbside appeal is so important. Minor changes to your home’s exterior secures some of the biggest rewards in your resale value. A new front door, for example, can recoup around 96% of the cost of the door upon resale. A steel door provides safety and durability and often comes in many factory colors. A new garage door also makes a world of difference. A four-section door with heavy-duty galvanized steel tracks offers ease of entry and a great look to your home. Adding a wood deck can recoup up to 83% of its cost, spruces up your home’s exterior, and provides extra seating space to enjoy the outdoors. Finally, small landscaping changes can mean the world of difference for your home’s outward aesthetic. Add a spot of color around the entryway with some flowers to draw the eye and welcome guests, lay new sod, and trim existing bushes so they look sleek and well-kept.
A few small touches can make a world of difference. While replacing the tub and sink might be ideal, especially in older homes, sometimes it’s not practical. Simply re-caulking your tubs and sinks and investing in a refinish makes your fixtures look like new. Replacing old faucets with modern ones takes years off of the look of your bathroom. Never underestimate the power of a simple paint job and updating lighting; as we like to say, a can of paint costs $10, but on a wall it adds $1000.
Remember: the key to high-reward renovations is a light touch. Small changes in the kitchen yields around 80% recoup on average. Instead of investing time and energy into new cabinetry, swap your old cupboard fronts for new ones. Get rid of your old appliances in favor of energy-efficient models. Buyers will love the money they will save on the energy bill, and you can feel good about the low environmental impact. Match the modern appliances with updated sink fixtures, some fresh caulking, and new molding, and your kitchen will look like new!
Don’t sell a fixer-upper. A few minor changes around your home can update your investment from a dud to a stud!
Selling your home? Looking to invest in real estate? Our friendly agents are eager to help! Contact The House Company today.