Wood Flooring
Proper home remodeling projects can create beautiful interiors and exteriors, great points when if you decide to sell your home. However, home remodeling projects may or may not increase the value of your home you decide to sell. Be careful not to set your expectations too high. Don’t expect to regain the full value of the project’s cost when you decide to sell. Top remodeling projects normally have return rates averaging below 65 percent nationwide.
Expect that you won’t get a 100 percent return on your remodeling investment. Also expect home improvement projects to significantly increase the attractiveness of your house, resulting in a faster sale once you have listed it.
Basic updates add the most value to your home. Keep the paint fresh, fix the roof when it leaks, replace wood that rots, and dispose of any mold that you find. These basic chores keep your home from deteriorating over time. Buyers want a healthy, solid, home. Routine maintenance can, and will, stand up to any home inspection.
New flooring may not add substantially to the value of a home, but having worn carpeting makes it harder to sell a home. New flooring can enhance the attractiveness of the home. Flooring can be used as a negotiating tactic to reduce the selling price of the home.
A professional kitchen remodel adds as much as 82 percent of its cost to the value of your home. You can increase the return on your investment by tackling part of the job yourself. Demolition and painting are the easiest ways to cut costs when you remodel. If some of your remodeling project can be do-it-yourself, it can amount to a significant reduction of your renovation budget.
If your home lacks basic insulation, has old doors that let in plenty of hot and cold air, home inspectors working with potential buyers will be sure to include this in their reports. Homes that haven’t been modified with energy efficiency in mind cost more to live in and maintain. This will definitely be on the minds of potential buyers and may in some cases cause them to move on to another home.
Windows are one of the best investments homeowners can make, especially if old windows leak or are not energy efficient. Windows account for substantial heat gain and loss in homes; you will recover the investment through energy savings. Remember, buyers shop for homes with energy efficiency in mind. Energy Star claims that adding Energy Star-rated windows can save you up to $500 a year in heating and cooling costs by making your home more energy efficient.
According to HGTV, you can expect to recoup 60%-90% of your costs when you invest in energy-efficient windows. You can also receive a green energy tax credit of 10% for this upgrade, as long as you install Energy Star-rated windows. You might also qualify for additional credits from your state, or even your utility company.
The biggest return on investment is a mid-range entry door replacement. Yes, shut the front door and get the biggest bang for your buck. It is the first thing a buyer sees when looking at a house. Purchase and installation can be done at a reasonable price, yet the average national return on investment is 128.9 percent
Basic updates add the most value to your home. Keep on top of home remodeling projects that crop up and buyers will see a well-cared-for home. You will see a return on investment and a faster sale.
