As we head into the hottest selling season, are you looking into improvements that will boost the resale value of your home?
Whether you’re a homeowner planning to make DIY improvements for your growing family, or keeping your home updated from seller’s point of view, it’s worth considering which upgrades can offer the best return. After all, not all home upgrades are created equal especially if you wish to put your home on the market in the future. Not all expensive home upgrades can add much value to a home. In fact, even small well-chosen improvements can make a big impression to potential buyers.
According to Zillow’s December 2020 Market Report, home values in Q4 rose 3.2% over the previous quarter, and that sales are happening faster than ever. That could mean now is a good time to start upgrading your home to increase its value for listing. As the coronavirus pandemic drags on, which home upgrades or home renovations can you do that could increase your home’s resale value when the time to sell inevitably comes?
But first let’s look into Remodel Magazine’s 2020 Cost VS Value Report for Houston’s top remodeling.
Houston’s Top Remodeling Projects and their Resale Value
- Manufactured stone veneer – 111.9% ROI
- Vinyl Siding replacement – 83.6% ROI
- Fiber-Cement Siding replacement – 79.4% ROI
- Garage door replacement – 77.7% ROI
- Minor kitchen remodel – 77.4% ROI
- Roofing Replacement – 72.5% ROI
- Entry Door Replacement – 71.9% ROI
- Vinyl Window Replacement – 68.2% ROI
- Bath Remodel – 63.3% ROI
- Wood Window Replacement – 61.7% ROI
If you have checked the detailed report for Houston, you’ll see that some remodeling costs are quite expensive so, we listed the kind of upgrades that can increase your home’s value.
Home Upgrades to Increase your Home Value for Resale
1. Upgrades that add style and functionality
Take a look around your home and check which looks used or dated? As you look around, think functional, rather than luxury. Small, inexpensive, yet functional upgrades can have a big impact on potential buyers and may boost your asking price. Kitchen and bathroom remodels are just some of the best projects to increase the resale value of your home. Refrigerators featuring French doors, high-efficiency washers, Wi-Fi-enabled appliances, or those with self-cleaning functions can make a home more appealing.
If you don’t have renovations in your budget, simple updates like fresh paint, decluttering, or opening up the floor up to create a spacious layout can freshen up your space. An open arrangement will allow any potential buyer to easily visualize themselves living in your home.
2. Upgrades that enhance your home’s curb appeal
Curb appeal is important whether you have a small home or spacious house. It’s the first thing that buyers see before they enter your home. Not only does curb appeal catches a buyer’s attention, but it has become one of the many projects that homeowners focus on during the pandemic. Most people work from home, which led to a well-maintained front yard. Surely, having a nice, green lawn will make any home look inviting.
Never underestimate the power of a walkway and a beautiful front door. A slight curve to your paver walkway will allow the buyer to see a better view of your well-manicured lawn. Minor upgrades instead of an upscale ones usually bring in more money and boost your home’s resale value.
3. Upgrades that cater to your area’s trends and demographics
Don’t DIY everything, invite a pro over. Talk to a Houston realtor to check your home.
Own of the most important factor to a successful home sale is deep understanding of the local real estate market. A real estate agent will not only help you market your home, but a good agent can help you identify the improvements needed to increase the market value of your home.
Added resale value of home renovations vary nationwide, so it’s best to ask your Houston real estate agent on what buyers look for in your area.
Whether or not you’re selling your home soon, it’s important to keep it in the best shape at all times. Hence, your home’s resale value is maintained and increased over time. Small, cost-effective updates can make your home more appealing to potential buyers. To see more options for sprucing up and boost the resale value of your home, contact APEXPRO to get your home on the market.
Working with Apogee Properties
Apogee Properties is Houston’s leading real estate management company. We work and live in Houston and our property managers are local. We have been in business for more than a decade providing comprehensive property management services in the Houston region ranging from a studio condo to a multi-family million dollar estate.
We look forward to hearing from you and sharing what we can offer to your Houston property. Contact us today to learn more!
