A home isn’t just a place to live. A home is an investment, one that can provide you with quite a large return upon its sale.
But if you want to get the biggest return possible, you need to make strategic updates from time to time. Making the right updates will provide increased value to your home, allowing you to make a large profit in the long run.
Curious as to which home upgrades provide the most value? Then read on. Here are 6 house upgrades that will add value to your home.
1. Finishing Your Basement
One of the best home renovations you can make for value-improving purposes is to finish your basement. This entails waterproofing your basement, carpeting its floor, and then applying sheetrock and drywall so as to establish a habitable space. It’s akin to creating an entirely new room in your house, one where you can exercise, watch TV, and do whatever else you want to do.
Generally speaking, a finished basement will add more than twice the value of an unfinished basement. This is because an unfinished basement lacks comfort and habitability. It’s, at best, storage space for items that you rarely use.
Now, finishing a basement isn’t cheap. On average, it costs around $18,000. But if that adds an extra, say, $25,000 to your home, you’ll be making quite a large profit, and that’s just in the short term; over time, that profit could grow substantially.
Plus, who wouldn’t want a whole other room in their house? Think of all the things you could do down there. The possibilities are endless.
2. Building a Deck
An outdoor upgrade that could help improve the value of your home is to build a deck. Decks provide value not only in terms of their functional capabilities but in terms of their aesthetic capabilities also.
You could, of course, receive a lot of benefits from this deck as well. Decks serve as excellent places to congregate with friends and family, allowing you to reap comfort while sitting outdoors.
There are a variety of different deck materials to choose from, including wood, composite, and even metal. All of these will increase the value of your home, though wood and composite are generally the most desirable.
3. Tinting Your Windows
Another of our favorite value-adding home upgrades is tinted windows. In other words, provide them with a darker shade. Doing so provides a number of benefits, including increased privacy, improved sunlight protection, and enhanced energy efficiency.
Rest assured, future home buyers are interested in these benefits, and will certainly pay a greater sum of money in order to obtain them. So, not only will you benefit from your tinted windows while you live in your house, but you’ll also reap monetary benefits at a later date.
Are you wondering, “where can I find home window tinting near me?” Search “home window tinting services” on Google and you’re sure to find a variety of options in your area.
4. Replacing Your Roof
Depending on how old your roof is, replacing it could very well add substantial value to your home. This is true not only because roofs are expensive to replace but because they’re annoying to replace as well. Therefore, new home buyers often try to avoid houses that would soon be requiring roof replacements.
Most residential roofs need to be replaced every 25 to 30 years, regardless, especially if they consist of asphalt shingles. Allowing them to age past this range can put their respective houses in vulnerable situations, as the roofs may no longer possess the protection needed to stop moisture. Moisture damage could cause serious issues for the interior of the house, costing thousands of dollars for repairs.
Therefore, if your roof is nearing the end of its estimated lifespan, you should replace it. You’ll have to shell out a decent chunk of money now but should get a lot of it back when you sell your house.
5. Updating Your Cabinetry
Kitchen cabinetry is expensive, sometimes costing as much as 5 digits. Unfortunately, it also has a large effect on a kitchen’s overall aesthetic. Therefore, the second it goes out of style, it tends to drag the rest of the kitchen down with it.
If your home still possesses old and outdated kitchen cabinetry, it’s bound to turn off a bevy of buyers. And those who are considering buying it are likely shopping on a smaller budget.
So, if you want to make more money on the sale of your house, you need to update those cabinets. Yes, it will cost you a decent chunk of change initially, but will likely pay off at the time of the sale.
6. Swapping Out Your Old HVAC System
The last of our tips about home upgrades is to swap out your HVAC system, provided that it’s nearing or over 15 years of age. 15 is usually the end of the line for furnaces and air conditioners, and if yours are near that age, they’re not going to appeal to prospective buyers.
It’s not just that your HVAC system is soon bound to stop functioning, it’s that, until that point, its efficiency is going to pale in comparison to modern HVAC units.
So, by replacing your existing HVAC with a modern HVAC, you can make your home all the more attractive to buyers. They’ll see an efficient HVAC system that they can benefit from for the next 10 to 15 years, and will be willing to spend much more on the acquisition of the house.
These Home Upgrades Could Very Well Pay Off in the End
Though there’s no guarantee, making these home upgrades could pay off for you in the end, providing you with a great deal more in profits. In any case, they’ll enhance your home, allowing you to enjoy it all that much more.
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