Top Home Improvements to Increase Your Home's Resale Value

Top Home Improvements to Increase Your Home's Resale Value

It’s never a bad idea to increase the resale value of your home, even if you aren’t moving soon. To maximize your home improvement dollars, you need to know which deliver the biggest return. Our tips will help guide you to making the best home improvements to increase your home’s resale value.

 1. Meet With a Realtor

 While our first tip isn’t a home improvement, it is the place to start before you spend money on any improvements. Nobody understands the housing market better than a local realtor. Invite a realtor to evaluate your home and offer suggestions for increasing its resale value.

 Typically, realtors provide this service as a courtesy to build a relationship with potential sellers. Realtors will share ideas for improvements but will caution you against making expensive changes that could price your home out of the market. They also will know which trends are most appealing to home buyers in your area.

 2. Apply a Fresh Coat of Paint

 One of the most affordable home improvements to increase the resale value of your home is applying a fresh coat of paint. Your rooms will look clean and updated, and potential buyers value this look. The Balance recommends choosing neutral colors and resisting the temptation to paint each room a different color. The more your neutral tones appeal to people, the more desirable your home becomes. Buyers also will appreciate the cohesive appearance when you paint all rooms the same neutral color.

 Interior painting also can be a DIY project. Consider painting your ceilings white to make your rooms look taller. Keep in mind that two one-gallon cans of eggshell finish paint will be enough to do a 10-by-10-foot room, and each gallon should cost approximately $25. But if you’re pressed for time or are concerned about making a mess of your interior, hire a painting professional.

 3. Make Your Home Energy Efficient

 One of the line items potential buyers see is the energy costs of your home. Don’t frighten potential buyers with a home that uses more energy than comparable homes. Start on your journey to energy efficiency by asking your local utility company to provide a free energy audit. It may recommend updating appliances to more energy-efficient models, adding insulation to your ceilings or attic, and wrapping hot water pipes with insulating foam. For more tips on making your home more energy efficient, check out these ideas.

 4. Replace Your Roof

 Potential home buyers expect homeowners to make repairs before selling. In fact, potential homebuyers are reluctant to put bids on homes that need major repairs like a new HVAC system or a new roof. That’s why you need to make sure that your roof is in good condition before you put your home on the market if you want to improve your chances of selling quickly and increase its resale value.

 Unfortunately, you need to beware of roofing scams when you are in the process of replacing your roof. There are fraudulent contractors who take advantage of homeowners, so you need to become familiar with the five most common types of roofing scams:

      ?     The disappearing down payment: Don’t put money down before checking references and ensuring the contractor             is licensed and insured.

?     The mysterious door-to-door salesman: Don’t allow anyone on your roof without checking references, and only work with contractors whom you contact first.

?     The storm chaser: If there’s been a recent storm, don’t work with a contractor before contacting your insurance company.

?     High-pressure sales tactics: Never sign a contract before you carefully look it over and check references. If the deal sounds too good to be true, it probably is.

?     The fluctuating bid: Make sure you and the contractor are on the same page with the estimate and the contract. All work and costs should be spelled out clearly. Ensure there is not an extra charge if the price of materials increases or the contractor finds roof deck damage.

 To increase the resale value of your home, first meet with a realtor to get suggestions. Then, apply a fresh coat of paint and make your home more energy efficient. Be sure to replace your roof if necessary, too.

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