Making money in the housing market is a risky game to play. You may have bought your home for one price, but changing times can vastly decrease that initial value. If you’re frustrated because you can’t sell your home and find yourself losing money, don’t fret. There are renovations you can do that will increase your home’s worth and get you back to the initial price you paid for. Read on to learn the most valuable home improvements to make you as much money as possible. Recoup data is taken from 2019 national averages to help you make better, more informed decisions.
Garage Door Replacement
Replacing your current garage door will increase your resale value. Upscaling your garage door makes it worth more to potential buyers. High-quality materials such as steel, wood, or aluminum provide energy-saving insulation and appealing aesthetics. If you’re going with a wood garage door, it’s best to use a wood composite or fiberglass for weather resistance. An upscale garage door replacement will yield a 98% recoup.
Any Stone or Wood Additions
Exterior home improvements add aesthetics that may have been previously lacking. For example, a stone or composite veneer boosts curb appeal and improves an old exterior. If that doesn’t interest you, add a stone walkway for a rustic charm. This will yield a 95% recoup. If you don’t like stone, you can use wood instead. Wood additions are among the most common home renovations. If you have a backyard, a wooden backyard deck or patio is the way to go. A wood or composite deck yields a 76% and 69% recoup, respectively. In addition, a backyard patio yields a 55% recoup. Adding furniture or railing to these additions will increase their worth even more.
Remodel the Bathroom
It might be a lot of work, but a remodeled bathroom increases your home’s value tremendously. Consider basic improvements such as tile, fixtures, toilet, counters, and lighting. Replace old floors with ceramic or stone, or replace countertops and install designer sinks and faucets for high value. Something else to consider when upgrading your bathroom is to make it universally accessible. Widen doorways, install a walk-in shower, lower light switches, and install support bars near the toilet and in the bath. This improves accessibility for physically challenged and older individuals.
If you’re looking to just do some low maintenance projects, caulking and glazing your bathtub is easy to accomplish, will seal cracks, and makes it look brand new. An upscale remodel will yield a 60% recoup, while a midrange remodel will yield a 67% recoup.
As you may have caught on, your home’s exterior will attract the most people and make it worth more. Eye-catching accessories or colors will bring the most attention to your yard. Don’t forget to take care of any plants and trees—treat greenery properly so it thrives. If you have dying plants or trees, eliminate them. These wilting plants will only decrease your home value and show off ugly qualities. Remember to replace any greenery you took out and add more to show off a beautiful yard. New shrubs, hedges, and flower beds are stunning additions that increase a home’s attractiveness. Young families, dog owners, nature lovers, and lawn enthusiasts will all be interested in buying your house.
Remodel the Kitchen
Similarly to remodeling your bathroom, you can do a midrange or upscale remodeling project on your kitchen. A minor project involves basic upkeep and some light replacements. It’s a good idea to re-face cabinets and drawers if they’re outdated. For a total facelift, consider taking out cabinet doors for an open, modern look. You can also install recessed lights near cabinets to lighten countertops. Use high-quality materials, such as stone or glass, for your countertops. Even some simple additions, like changing the drapes, can increase your home’s worth.
If you want to redo your kitchen, a major project involves new installations and removals. Adding an island or stainless appliances will set your kitchen apart from others. It’s also important to make your kitchen feel open. Make sure you use heavy duty brackets for granite or marble countertops. An upscale major kitchen remodel will yield about 60% recoup, whereas a midrange major kitchen will yield a 62% recoup. The best return is on a smaller project, since a midrange minor kitchen remodel yields an 81% recoup.
Finish Attics and Basements
Naturally, adding more rooms to a house is going to increase its market value. If your house has an attic or basement, then you should turn those into finished, accessible rooms. This will give your home more bedrooms, which will greatly increase its market price. Make sure these rooms are properly insulated to ensure energy efficiency. You also need to ensure no moisture can get through. That means you’ll have to install a second HVAC unit if your initial one can’t handle more rooms. Attic and basement conversions yield approximately 90%-93% recoup.
Repaint the Exterior and Interior
This is probably the cheapest and simplest home renovation on this list. Just repainting your home’s exterior and interior will help its market ranking. This is especially true if you live in an older home, where your paint might look outdated compared to modern house trends. Additionally, your paint may be flaking or chipped. It’s always a good idea to touch up paint jobs in and outside the home to elevate your aesthetic. Interior colors in your bathroom, kitchen, and living areas can be neutral colors. This way, your rooms will look clean and fresh.
Window replacement is a minor—but effective—cost-saving strategy. It’s a good idea to replace windows if you live in a big city, since this will increase recoup rates. For hot climates, switch to low-E glass that reflects heat for optimal energy efficiency. Recoup rates differ by region, but you’ll likely see a 71% recoup with wood replacements and a 73% recoup with vinyl.
At Right On Bracket, we take pride in our selection of high-quality, American-made products. We have the countertop brackets, shelving brackets, and mantel brackets you need for your home renovations.