Have you ever considered one day selling your home for more than it’s currently worth? Then we’re going to let you on a little secret. The home improvement projects you can tackle today that can also net the biggest return when it’s time to sell are usually not the most expensive. Consider the following.
When it comes to the exterior of the house, replacing worn-out siding with fiber cement siding will command the highest resale value. Hardscape projects such as wood porches and decks are also important enticements to buyers and generally bring a high return on investment dollars.
Replacing a tired front door boosts curb appeal instantly, and so does installing a new garage door. Small changes like new exterior lighting fixtures or adding a bright, shiny mailbox are inexpensive changes that can net returns when selling (and it won't look too shabby next time you host a dinner party).
The Heart of the Home
Inside, many homeowners consider expensive kitchen remodels. If you plan on a new, top-of-the-line kitchen, don't plan on getting all that investment out when you sell. A more affordable, small scale remodel of the existing kitchen can bring a higher return on dollars invested.
Consider refinishing or painting the cabinets instead of replacing them. New countertops do not have to be solid granite to boost resale value. You'll receive a higher return on your investment dollars by updating faucets, changing out cabinet knobs and drawer pulls, and by replacing out-dated appliances with new, energy efficient ones.
Add Ons Done Right
Adding an additional bedroom or unit to your home can be a fruitful investment. There are several important things, however, to consider before you break ground. Of chief importance is the need for consistency between the rest of your home and your add on. It may be that the rest of your home requires some minor tweaks and upgrades in order to match the "newness" of your selected add on.
Perhaps most important, hire a licensed professional and pull the required permits, So many well-intentioned homeowners choose to cut corners when remodeling and they hire the least expensive contractors, thinking that they are saving money. City permits are designed to increase safety and to protect us from shoddy construction work.
Equipped with the proper information, the determination to do it right and a can-do attitude, you can easily tackle a number of short-term, low-cost projects that will soon enough deliver big value.