Not all home improvements will bring top dollar returns
When you already have the key to your possible dream house, it is time to start shaping it to one.
But don’t go rushing about making changes just yet. Though any renovations you’ll do will make you happy, it will not necessarily increase the equity of your home.
Taking into consideration how much return you’ll receive when you sell your home can help you decide which renovation projects to do.
Take at look at the top six home remodeling projects which will increase your home’s market value.
- Improve the landscaping. Were you expecting a kitchen or bathroom renovation on top of the list? While kitchen renovations certainly do give high return, your yard if not perfect, will not improve your curb appeal.
Your Mayfield Heights home for sale’s curb appeal attracts and grabs the attention of the potential client, so bringing in some color and doing some landscaping will make a huge difference.
A basic landscaping upgrade will cost you around $4,750, but the return for amazing curb appeal is 105%, giving you $5,000 higher equity.
- Repair or replace the roof. This should be a top priority for homeowners and sellers, especially if it is already leaking.
Have your roof checked out when you notice missing shingles or shingles covered in moss, or stains on ceilings and walls.
Replacing your Mayfield Heights home for sale’s roof will cost you around $7,600, but think of the return! This home remodeling project gets 105% return, netting you an additional $8,000.
- Choose hardwood floors. Do you know that hardwood floors have a 91-100% return? It is because hardwood floors are classic.
If you are to replace the floors of your home with anything, go for hardwood floors. Refinishing will cost you $2,500, but you will get it all back.
If you are to buy new hardwood floors, expect to shell out at least $5,000 – $5,500. The return? Not bad at 91%.
- Install a patio or deck. An outdoor oasis is always a treat.
When you get a patio or deck, you have a great place to entertain friends, or a place to hang out and enjoy the day during fine weather.
A patio renovation will cost you $6,400, but it will yield 102% return. If you want to install one, it will cost you around $9,500, but it has a higher return at 106%, so you get an additional $10,000 when your home is valuated.
- Get new insulation. If your Mayfield Heights home is old, its insulation system is likely worn out. You don’t want to freeze during the winter, so you better hurry up and work on that insulation. It will cost you around $2,000 or more, but think of the energy savings you’ll get when it works perfectly. Also, you should know that the return for new insulation is 95%. That’s a great return of investment, right?
- Get a new garage door. This is one of the most overlooked home features, but do you know that a new garage door has an 87% ROI? So if you spend $2,300, you’ll likely get an additional $2,000 home equity.
A beautifully staged home doesn’t really do much when the house in is bad shape. New painting will not cover up a beat-up roof, nor will it make the roof more functional, so it’s better to get your home in tip-top shape, and increase its equity as you go.
Want to see some homes for sale in the Mayfield Heights area? Visit my website http://ChristinePappas.com/.
Call me, Christine Pappas, at (216)956-7635. As a real estate expert, I can help you manage things easier by answering your concerns and taking care of your real-estate related problems. Together, we can successfully sell your home.
The cost of renovation and profit is taken from https://www.houselogic.com/save-money-add-value/add-value-to-your-home/home-remodeling-projects-with-long-term-ROI/?cid=eo_em_mkt_newsletter