You probably have a long list of remodeling projects you want to get around to, and sometimes it’s hard to know where to start. Of course you want to remodel your home based on your personal tastes, but if you’re looking to move soon, it’s better to look at renovations and improvements that will add value to your home. We’ve compiled the four best home upgrades that will put the most money in your pocket when it comes time to sell.
1. A New Front Door
Nothing beats a new steel front door when it comes to recouping your investment. A new steel front door boosts curb appeal, rejuvenating your home’s appearance to make a great first impression for homebuyers. You can have a professional install your new door (for give or take $2000), in which case you’ll recover about 75% of the cost, or you can DIY this project (for around $250) and recoup up to a whopping 600%.
If you go the DIY route, make sure to get acquainted with the parts of the door you’re installing before you start in. If it’s your first time, you can expect to spend a bit more time on this project (don’t be surprised if it takes you six or eight hours). Oh, and enlist a friend to help—it’s a lot easier with two people, trust us.
2. New Hardwood Floors
Buyers love hardwood floors, and they’ll pay to get them (to the tune of about $5000 at closing). If you install those hardwood floors yourself, you can potentially make a 282% profit. It might be a multi-day affair if you haven’t worked with flooring before, but don’t worry—the techniques aren’t hard to master and it’s worth rolling up your sleeves to pocket the extra savings. Even if you hire a professional, though, this improvement will just about pay for itself.
If you have hardwood floors already and just want to give them a facelift, you can do that with a simple sand-and-refinish job. Floor sanders and other supplies are available to rent at most home improvement stores to make the process easy and affordable.
3. A Bathroom Update
We’re not talking about demolition down to the studs, but a mid-range bathroom update will definitely add value to your home and improve your return on investment. Replacing your bathroom’s essentials (meaning the tub, tile surround and floor, toilet, sink, fixtures and vanity) will run you somewhere in the range of $10,500, while you’ll average a tidy $10,700 back at closing. Of course if you do the update yourself instead of hiring out, you’ll pocket even more.
4. Fiberglass Attic Insulation
Attic insulation is one of those things you never pay attention to, but you sure know if it’s not there. Having adequate insulation is the best way to keep comfortable in both hot and cold weather while keeping your energy bills low, but up to an astounding 90 percent of homes don’t have enough. If you can see the floor joists in your attic, you have at most 6-7 inches of insulation, only half of what the U.S. Department of Energy recommends. Depending on where you live, you could need even more.
The good news is that insulation is easy to add yourself, and it’s also one of the most inexpensive and worthwhile upgrades on our list, costing you only about $700 to add $1500 of value when you sell.
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From home energy audits to full inspections, NPI has you covered when you want to find ways to add value to your home. Find your local inspector today to schedule an appointment.