Home improvement projects are a great way to add value to your property. But not all improvements will recoup 100% of their cost when you sell your house, so it’s important to prioritize which ones deliver the best ROI.
A great place to start is with the most common improvements: the rooms that get the most use and features that have seen a lot of wear. These include kitchens and bathrooms.
1. Replace Old Appliances
Whether you’re looking to sell your home or simply want a new look, replacing old appliances is an easy way to boost your property value. However, you should be sure to choose appliances that match your home’s decor and are functional.
The best resale value appliances are stainless steel and energy efficient. They also look nice and complement your kitchen’s design.
You might consider donating your old appliances to a nonprofit or church thrift store that gives them away for free. This is a great way to get rid of them without cluttering up your garage or basement.
Many retailers also recycle appliances when you purchase a new one. This is a great way to save on energy bills and help the environment.
2. Add an ADU
Adding an ADU to your home can boost your property value and help you make more money in the long run. They’re also a great way to increase the investment diversity of your property and earn rental income.
If you’re thinking about building an ADU, check your zoning laws and find a professional to help you plan the project. They’ll know the rules and regulations and can get you started quickly.
Whether you’re interested in converting an existing space to an ADU or planning a new structure, there are many financing options available to homeowners. One of these is Freddie Mac CHOICERenovation(r), which provides a low-interest loan to cover the costs of remodeling or creating an ADU on your property. Learn more about the program by visiting My Home by Freddie Mac(r). You can even get an estimate in 90 seconds or less using our simple tool!
3. Add a Deck or Patio
Adding a deck or patio to your home can be an easy way to increase the value of your property. Depending on the size and style of your addition, these projects can recoup up to 100% of their cost when you sell.
Whether you choose to build a deck or patio depends on a few important factors, including your budget and the area in which you live. In addition, how much maintenance you plan to do on your outdoor space will determine the amount of resale value it will add to your home.
A deck can be built above ground level on any type of terrain, and it provides a great view of your yard. It’s also a great way to expand your living space and is often seen as a focal point of a home.
4. Add a Fence
Adding a fence to your home can boost your property value in the long run. It’s a project that many people overlook, but it can be one of the most lucrative and affordable home improvement projects you can do.
Whether it’s in the backyard or the front yard, a fence can increase your property’s curb appeal. It can also be an important factor in deciding whether or not to purchase a home.
A fence can make a buyer feel safe and secure, particularly in suburban areas where homes are more likely to be occupied by families with kids. It can also help to deter theft or vandalism.
5. Add a Deck or Patio
Adding a deck or patio is a great way to add space and enhance your home’s value. However, it’s important to choose the right one for your needs and style.
A deck is usually raised off the ground, while a patio sits at ground level. Choosing the right option can be difficult, as you’ll need to consider your budget, the shape of the ground, and what local building codes require.
A patio is lower-maintenance than natural wood decks, and it’s a more sustainable choice. However, you’ll need to keep it clean and restained or painted and power-washed every few years to maintain its look.