Improvements That Drive Up Your Home Value

When it comes to improvements in the home, there are mainly two major considerations to keep when figuring out where to invest your money: or at least where the money will get a return if you were to sell up. The most attractive home improvements are those that increase your home’s value in relation to the amount you spent installing or upgrading them. While some of the improvements might be worth it, while others might only just up the value a small percentage. Otherwise keeping the property in a good working state of repair is a good place to start. From luxurious spa-feeling bathrooms or tranquil gardens with sculptures and architects; there are almost an infinite amount of ways to increase a properties value. But here we are going to talk about the general home with the standard living spaces, land, kitchens and bathrooms.

Renew The Garage Door(s)

Depending on the property and if it has got a garage, those who do might want to consider replacing garage doors depending on their condition from 15-20 years old. It may not be the most thrilling upgrade to make and there may not be that much visually different, but replacing your current old garage door with an upgraded model will yield an investment of nearly double the value of the door. With the average installation for garage doors coming in at around $3000, depending on the age when you sell them they could return a profit of up to $1000. If you were to incorporate remote roller shutters instead of a manual door, the average return could be between $2,000 – $6,000 profit. Now that’s money well spent.

A Bathroom Remodel

The average job cost for a complete bathroom suite to be installed including shower, tiles, bath, sink, toilet; the works, onward and upwards $17,000 +. Depending on the usage and age of when it is sold, you could look at a return on average of $14,500. Although you may not be making any money back from paying the contractors, plumbers and installations experts to survey the installation, you’re guaranteed to ramp up the value by nearly $15k. A bathroom remodel is not a quick time thing and it is not a cheap weekend project, but what u get back in return will depend almost as much as you put in. It’s best to stick to neutral color palettes and upgrade fixtures like mirror lighting or top of the range shower features.

Replacement Roof

On average, replacing a complete roof, including tiles, felt, baton beams and any concreting or lead flashing can cost around $21,000. On average, depending on the type of roof the property has, the resale value of the roof can up the value of the property by $14,000. You want to ensure that you are using a company that provides quality roofing solutions. If you have a particularly large property or want a roof constructed with non-traditional materials, there are many companies now specializing in these types of projects.   With two-thirds of investments made back with the value increase, you still lose money but will protect the foundations and condition of the property for another 30 – 50 years. No one wants to pay to replace a roof on their new home, they’d much rather it was already done recently to the sale.

Exterior Manufactured Stone Veneer

With an average job cost of $8,250 for the home to have the modern and much sought after curb appeal, this renovation is worth a lot of money to home-buyers. Some might not even stop to check out some open house if they don’t like how it looks from the exterior. This type of installation is a difficult and a pricey upgrade, but adding a manufactured stone veneer costs much less and helps increase the value of your home. With nearly 100% return on investment, the average cost added to the value of the home is roughly $8,000.

New Kitchen Remodel And Installation

Average job cost: $18,500 +

Resale value: $16,500 +

When it comes to the property and kitchen improvements, installations, or remodels, the sky is the limit as far as potential installation costs are concerned. But rather than gutting your existing kitchen down to the bare scratches, depending on the cupboard conditions and general age, you could possibly do a minor kitchen remodel. This would drastically cut costs but will not increase the value of the property. These minor upgrades may include things such as new flooring, new appliances, and refurbishing the cabinet doors. Depending on what gets done will decide the money you put into the update.

A completely new installation for a kitchen, if you have a complete remodel including appliances and something that looks something like a cabinet showroom then you can expect more return of value on your property.

Double Glazing UPVC Window Replacement

The benefits with new windows and doors aren’t just that they look better but they also have financial benefits like keeping the usage of energy and heating costs down. Potential homebuyers want replacement windows and are willing to pay top dollar for them. Whilst the average home has between 7 to 12 windows and 2 doors, installation costs can vary down to the materials used and type of glass needed. Some windows need to be reinforced to protect their durability and strength if installed at low levels. The average job cost for new windows and doors comes to an average $15,000 and you can expect to receive back up to 75% from the investments depending on age.

Conclusion

Renovating a house can take months, unlike many television home renovation shows imply. Choosing any of these projects can turn into a huge task and problems can arise if there has not been prior planning and in some circumstances, the local authorities knowledge and approval. Always check with your local council or land office to see what the requirements are.

Have you recently renovated a room or sold your house? What helped get the best price? Was there any renovating needed? Let us know what you think in the comments below.