In 2022, the U.S. housing market grew at an astronomical rate. Experts believe that the trend is projected to continue in the foreseeable future. Therefore, whether you are a homeowner preparing to put your house on the market or a builder constructing a new home, you might wonder which upgrades would ensure the best ROI?
Fortunately, you do not have to build an entirely new section onto your house. Engaging in a series of small upgrades can have a big impact. Let us take a look at some of the finest ways to boost the value of your property:
1. Apply A Fresh Coat of Paint
Refresh the appearance of your property by giving it a new coat of paint. Fresh paint will help cover ugly stains, minor scratches, and unpleasant odors. Prices begin at about $20 per gallon for paint, so it is a relatively inexpensive method to give your home a fresh look.
No matter how much you love a certain color, you should opt for a warm neutral tint like wheat yellow or light gray to appeal to the broadest audience. To get the most up-to-date color options, you can check out the latest offerings at your local paint supply. A couple of days could be all that is needed to paint the interior of your home.
Make sure you start painting only after emptying your house. That way, not only the painting process will become more convenient, but the expensive items will also remain safe. If you lack storage capacity, consider putting your belongings in a storage facility. Finding customized storage has become hassle-free these days. For instance, if you live in Rogers, Arkansas, randomly typing “storage units Rogers ar” in the search engine will show you several local storage facilities.
2. Install Energy-Saving Windows
Despite their endearing appearance, the traditional windows typically only have one pane of glass, which could pose several challenges. One major effect of single-pane windows is that outside temperature affects the internal temperature to a great degree. As a result, homeowners get hit with high heating and air conditioning bills throughout the winter and summer months. According to the United States Department of Energy, energy-efficient windows help homeowners to save as much as $465 annually.
3. Renovate Your Kitchen
Investing in kitchen renovations pays off big time. It is because modern kitchens are high on the wish list of many potential homebuyers. However, you should avoid going overboard. When renovating a kitchen, it is best to begin on a small scale. Invest in the quality kitchen faucet and updated cabinet hardware. In addition, replace any outdated light fittings. People know that remodeling a kitchen is a stressful experience, so they will be grateful that you have already done the grunt work for them.
When it comes to renovating the kitchen, you should never forget about the essential appliances. The stove and refrigerator are typically the workhorses of the kitchen. If you have an older model of any of these, it can give the impression that the kitchen is outdated. Homebuyers also look for appliances they will not have to repair within the following few years or months after moving into their new homes. Simply updating the devices in the kitchen can add a significant amount of value and make the space much more functional.
4. Tidy Up Carpets and Wood Floors
Nothing turns homebuyers off like dirty, stinky carpets. Fortunately, this is a pretty low-cost fix. The price of professional carpet cleaning typically ranges from around $75 to $350. To begin with, you should narrow down your focus to high-traffic areas.
Alternatively, you can flaunt your wood floors to prospective buyers by keeping them spotless and gleaming. Polishing floors is a task requiring you to put in more time and effort than money. Applying hardwood floor cleaner to your floors will feel like a genuine workout, so get ready for it. Alternatively, you can scrub and polish the floor with a wood floor buffer machine, which costs around $100 and is less taxing on your back.
5. Prioritize Yard Landscaping
The curb appeal is the first thing a potential buyer notices. They may be put off by an unattractive yard. Therefore, dead or overgrown weeds, grass, and bushes should be removed and pruned. Adding a few fresh perennials and shrubs to the landscape will make your home look and feel more welcoming. For a full-service landscaping job, expect to pay between $500 and $3,000 (even more if you include tree removal).
If you do not have the money for that, you can remove the dead foliage yourself. Buying grass seed does not require the assistance of a professional either. For an extra splash of color, you can buy a few vivid annual flowers from your local garden shop and place them near the front of the entrance.
6. Remodel Bathroom
The average return for a mid-range bathroom makeover is 70.1 percent. Like kitchens, spending more money does not necessarily translate into getting more. Renovating your regular bathroom to make it universally more accessible is one of the most worthwhile home renovations. It can include expanding entrances for wheelchairs, lowering light switches, installing a walk-in shower, and fixing support rails near the toilet.
The population of the United States is rapidly aging. According to current projections, the number of people 65 and older in the United States will double by 2050. So adding a few simple accessibility features can make your home more attractive to the population who’ve crossed the sixty mark and people with disabilities.
7. Complete Work In The Basement
Finishing an unfinished basement raises the square footage of your property, which immediately enhances its resale value. Statistically speaking, finishing a basement might bring in a 70% ROI. If you have a basement, remodel it and turn it into a home theater, a living room with a fireplace, an office, or even an additional bedroom and bathroom.
To help you decide what to do with your basement, look at how much light it gets. Mold thrives in basements because of the constant presence of moisture. Thus, you will also want a design to facilitate airflow and prevent moisture accumulation.
Upgrading your home can improve your lifestyle and raise the value of your property. However, not all upgrades are going to translate into solid investment returns. So if you want to get the best deal for your buck, invest your time and money in upgrades like kitchen, and bathroom makeovers, add energy-efficient window panes, and improve the viability of the basement as a livable space. Clean out smelly and dirty areas, clear out the yard and add a few landscaping touches to enhance curb appeal. These are the key upgrades that can immediately ensure you get a good return from the sale of your house.