When the time came for me to sell my home, I as usual tried to get the highest price possible. While a newer home might need less or zero improvements that increase home value, I resorted to making a few necessary changes beforehand. I used some of the smart home upgrades that are available in the market and are in high demand. The reason being they give a mid-to-high return on the investment we put.
An older or a well-maintained home might sell at a good price in the market but home improvements can add a huge margin of value to your homes. The solution of home improvements has also guaranteed the new buyer an ROI giving him the investment profits as well.
Here are the 4 High-ROI Improvements that increase home value:
Siding is the first impression of potential buyers, having a new one helped. Also, the ROI returns for Siding are as much as 77 percent with the help of fiber cement siding. It is high in demand and gives a good margin of ROI.
Decks are known for the sense of leisure and comfort they give.
I decided to invest in one and hired Nimbus Roofing for it, due to its feasibility to an outdoor kitchen, hot tub, and other amenities that call for a good time.
For making any ROI Additions I invested in an average-sized wooden deck that cost me around a rage of 6000 dollars. The fact being it gave me 75 percent of ROI. Although, exotic hardwoods and other exquisite materials would give me a higher ROI.
Vinyl and PVC decking is another material that is gaining popularity due to its equal or greater return on the investment.
Another set of improvements that increases home value are the Smart Home features. Since the modern-day buyer is highly embracing new technology, modern techniques, etc they are increasingly big on shopping around home features while moving to a new space.
Some of the most famous buys include – Home security systems, Lighting controls, Thermostats, Door Locks, and video doorbells, Sprinklers systems, Smoke detection systems, etc. Sprinkler systems and water management systems also help in conserving resources as they use them wisely.
Last but not the least, Solar panels!
An improvement that increases the home value by a greater margin, solar panels can be rather costly but there are many government subsidies available for the same. Some areas are in greater need of using solar panels for their energy needs, in areas like these it would cost a very less amount to have it installed. It can also allow the homeowners to sell back their energy. Solar panels are a win-win all around!
How useful is ROI for Improvements that increase home value?
If you are considering selling a home, then making a few changes in the homes to make them look more viable and stay worthy can guarantee you an upgraded price on the resale. This way, you don’t have to worry about your home’s resale value as now the ROI has been taken care of through these upgrades that help in increasing your home value.