Home renovation can be a huge undertaking and you may feel unsure if the items you invest in will really pay off in the end. When it comes to upgrading areas of your home you’ll want to choose projects that add resale value rather than investing in updates that offer minimal ROI down the road. If you want more confidence that your home will be worth top dollar someday — and need help figuring out how to increase your home’s resale value — there are a number of ways to do it without breaking the bank.
1. Staging the Home
This might sound like common sense, but it’s important to make your house attractive to viewers. 22% of sellers’ agents said staging a home increased the price offered by buyers by 1-5% compared to similarly structured homes, while 17% of sellers’ agents said staging a home increased the price offered by buyers 6-10%.
You don’t have to spend large amounts of money to decorate every inch of your home. The most important places to invest in decor include the living room, the kitchen and the master bedroom, the three most used — and therefore can be the most important — rooms to buyers.
If the home is empty, it may benefit you to hire a professional company to virtually stage the home so prospective buyers can get a vision of what is possible in the space. Most virtual staging costs in the range of $39 to $199 per room. If you’re struggling to sell you property, this investment could be well worth it.
2. Add a Deck or Patio
Adding an outside gathering place, no matter your geographical location, almost always brings a large ROI. Let’s say you spend $13,300 on a brand new deck addition. You are going to recover an average cost of $10,000 when you resell it. That is a 76% ROI, and you get to enjoy a gorgeous outdoor addition in the meantime.
3. Invest In Energy Efficiency
If you update your heating system, your lighting system, your insulation and/or your exterior siding to improve your energy efficiency, you are going to drastically improve your ROI. Many of these remodel projects do have a higher overall price than smaller projects, but research has shown that they are usually worth it.
As an added bonus, you get to enjoy lower utility bills until your family is ready to purchase your next home. It’s a win-win situation.
4. Add New Appliances and Technology
Updating your kitchen appliances and home technology, especially if your current ones are outdated, can be a way to increase your home value. Your budget range is going to be subjective and depends on your goals for your home: Purchases can range from a hundred dollars up to several thousand dollars.
You can add solar panels, update your home security system or upgrade your refrigerator. To decide, start by taking a walk around your home. If the air conditioner keeps making a clunking sound, solve it. If a plumbing line is leaking, fix it. If the water heater is older than dirt, get a new one. If the roof has seen better days or is closing in on 15 years, look into getting it replaced.
The technology that current homeowners have said would make them pay more for a home include smart thermostats, smart fire detectors, smart carbon monoxide detectors, smart cameras, smart locks and smart lighting systems. Luckily, most of these things are easily accomplished in a weekend without breaking the bank.
5. Update Your Windows
The average ROI on window replacement projects is high and is consistently listed as one of the top ten home improvement projects you can do to increase value. If you spend approximately $15,000 to replace your home’s windows, your home could rise in value by roughly $11,000. That gives you a 74% return on your investment and makes your home easier to sell.
Window replacements are especially important in increasing the resale value of your home if your old windows are outdated and creating insulation problems. By replacing your windows, not only do you get better curb appeal (and a better interior look), you are also increasing your home’s energy efficiency significantly.
You are saving two birds worth of money with one stone. That’s the saying, right?
Paradigm Window Solutions
Paradigm Windows offers homeowners high-quality window products with an affordable price point, allowing you to bring about a higher ROI with a smaller pinch to the wallet. There are a plethora of custom-made solutions, from double-hung to sliding windows, for every one of your needs.
The installation process is a breeze, saving you even more time and money, and endearing your contractor to you for life. Paradigm’s team of representatives are always ready to help you every step of the way, making the renovation process smoother and with less headaches. In fact, we’re so confident in our products that we offer industry-leading warranties that are backed by local window experts. So if there is ever an issue, someone can assist you quickly.
Paradigm’s versatile product lineup is designed with builders, architects and homeowners in mind. Our mission is to provide the market with a highly customizable window solution that provides performance you can count on for a lifetime, options and accessories that enhance curb appeal, and exceptional sales, service and warranty support.
High-performance features like triple weather-stripping are included on every 8-Series product, providing comfort and maximized energy-efficiency, saving you money on heating and cooling costs and improving your home sales pitch.
Interested in updating your windows to increase your home’s resale value? Paradigm wants to help. Check out Paradigm’s window offerings and find a distributor on our newly-designed Dealer Locator.