Do you want to update your home but are not sure how to go about it? Consider home improvements that have been proven to increase resale value. By investing in these improvements, you not only get a better-looking or better-functioning home; you also stand to profit from it or recover a large part of the cost when you decide to sell the property in the future.
Check out these home improvements that can help increase resale value:
- Add fiberglass attic insulation
You get a 108% rate of return for this improvement, which means it increases your home value enough to allow you a profit on the investment. But this is just half of the story. By adding fiberglass attic insulation, your HVAC can perform more efficiently, resulting in savings on your energy bill.
- Remodel your kitchen
The kitchen has become an important part of the modern household. It’s no longer just utilitarian space where meals are prepared – it has become a central area where the family spends time together and intimate and informal gatherings take place. A welcoming, spacious kitchen with updated features is one of the things many buyers – especially millennials – look for in a home today.
In remodeling your kitchen, make sure not to overdo it. The basic rule is that your kitchen shouldn’t be fancier than the rest of your home. The design should harmonize with your home’s interior so it doesn’t look out of place.
Basic improvements, such as installing energy-efficient appliances, a fresh coat of paint, a new countertop – all while ensuring a coordinated look – can be done for $5,000. A kitchen upgrade has an average rate of return of 80.2%.
- Reinvent your basement
Make better use of your basement by turning it into added living space. A basement remodeling project has an average cost of around $71,000, but you can recover as much as 70% when you sell your home. Many buyers today are willing to shell out more for a finished basement.
You can convert your basement into an entertainment or recreation room, a spare bedroom, or a second living room. You can also turn it into a small apartment for an elderly relative or to rent out.
- Add a deck or patio
This home improvement is especially fitting in San Diego, given the area’s stunning natural features and sunny weather all year round. A deck or patio will allow you and your family to enjoy your backyard in comfort and style while making your home more appealing.
The cost of adding a new deck or patio depends on the size, the materials, and the features that you want. Plenty of plants and cozy seating can make your outdoor living experience enjoyable. If you’re willing to spend more, you might want to add fancier details, such as an outdoor fireplace, a water feature, or an outdoor kitchen.
On average, a wooden deck addition costs about $10,700 with a 71.5% rate of return, while a composite deck costs around $17,200 with a 65.2% rate of return. A backyard patio addition costs around $52,000 with a 54.9% rate of return.
If you’re looking to sell your home in San Diego, call 619.70.3196, or email firstname.lastname@example.org