You can make a long-term investment in your property by investing in the right upgrades to increase its resale price. If you are looking to sell your property, make sure that the upgrades make your life easier and more enjoyable. Buyers want easy-to-implement features. No matter what the cost, even the smallest improvements can add up. We will be looking at the best home renovation projects for resale in the next article.
The right home improvements can increase the value of your property and make it more attractive to potential buyers. While these projects tend to be more affordable than many other home improvement projects in comparison, the cost of each service or project is different. There are many home improvements that may not be right for you. But, there are ways to add value and enhance the property's appearance.
This is the first home improvement project. You might consider adding a bar to your basement or attic. An under-counter refrigerator can be installed as well as a stainless-steel drop in bar sink. You can also install modular subfloors, and carpet squares if you have a basement. Although these aren't the best investments for resale they can make you a good profit.
The best home improvement for resale? Finishing your basement. Unfinished basements aren't a common feature of newer houses, but a finished basement can increase the value of your home. A finished basement may cost anywhere from $10,000 up to $22,000, depending upon its size or depth. If you can afford it, consider adding a kitchen or a three-piece bathroom in the basement.
A basement apartment can be a great home improvement that you can resell. The new owners could earn additional rental income by adding a basement apartment. It's definitely worth considering. The best way to market the basement is to install a brand new kitchen and bathroom. This is an excellent way for potential buyers to see the basement. In addition, potential buyers may also be attracted to basement apartments.
Besides fixing broken mechanicals and replacing outdated appliances, improving the look of a home's exterior is another worthwhile renovation. No matter if the renovation is structural or cosmetic, a new frontdoor can make a huge difference in a home's value. It is also possible to change the color of paint or to update the home's exterior. This is another way of increasing the home's resale potential.
FAQ
Is it worth the extra cost to build or remodel a house?
There are two options available to you if you're considering building a home. One option is to buy a pre-built home. This home is ready for you to move into. Another option is to build a custom home yourself. With this option, you'll need to hire a builder to help you design and build your dream home.
It all depends on how much you spend designing and planning the home. Because you will likely be doing most of the work yourself, a custom home can require more effort. You also have greater control over the materials and their placement. It might be easier for you to find a contractor who has experience building custom homes.
A new home is typically more expensive than one that has been renovated. This is because you will have to pay more for the land as well as any improvements that you make to it. You will also need to pay inspections and permits. On average, the price difference between a new and remodeled home is $10,000-$20,000.
How do you choose a good contractor to work with?
Ask friends and family for recommendations when selecting a contractor. Also, look at online reviews. Make sure that the contractor you choose has experience in the area of construction that you are interested in. Request references and make sure to verify them.
Can I renovate my whole house myself?
Do it yourself - you'll save time and money.
It doesn't matter how much you love DIY, there are times when you simply cannot do it yourself. You might not be able control many of the variables.
For example, if you live in an old home, you might find that the wiring is outdated and you would need to hire a qualified electrician to make sure that your electrical system is safe and reliable.
It is possible that your renovations might cause structural damage.
Additionally, you may not have the right tools to complete the job. You will need a special tool called the plumber's snake to clean clogged pipes if you plan to install a kitchen sink.
You will also need a licensed plumber to work on your plumbing project.
The bottom line is that you need to know exactly what you are capable of doing before you embark on such a big task.
Ask your friends and family for help if you're unsure if the job is possible.
They can provide advice on the best steps to take and places to find more information.
How many times should I change my furnace filter?
This depends on how often your family will use their home heating system. It is worth changing your filter more often if you intend to spend a lot of time outside during winter months. You may be able wait longer between filters changes if you don't often leave the house.
A furnace filter can last about three months. This means that your furnace filters should be changed every three to four months.
You can also check the manufacturer's recommendations for when to change your filter. Some manufacturers recommend replacing your filter after each heating season, while others suggest waiting until there is visible dirt buildup.
How important it is to be pre-approved for loans?
Pre-approval for a mortgage loan is essential. It will give you an estimate of the amount you will need. It also helps you determine whether or not you qualify for a particular loan program.
Is there any way to save money when renovating my home?
You can save money by doing most of the work yourself. Reduce the number and frequency of people you hire for the renovation. You might also look for ways to decrease the cost and use of materials in the renovation.
Is it better to hire a general contractor or a subcontractor?
Hiring a general contract is typically more costly than hiring subcontractors. General contractors have many employees so often charge their clients a high amount for labor costs. Subcontractors, on the contrary, hire one employee and charge less per hour.
Statistics
- Most lenders will lend you up to 75% or 80% of the appraised value of your home, but some will go higher. (kiplinger.com)
- Rather, allot 10% to 15% for a contingency fund to pay for unexpected construction issues. (kiplinger.com)
- On jumbo loans of more than $636,150, you'll be able to borrow up to 80% of the home's completed value. (kiplinger.com)
- ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.' (realhomes.com)
- They'll usually lend up to 90% of your home's "as-completed" value, but no more than $424,100 in most locales or $636,150 in high-cost areas. (kiplinger.com)
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How To
Do you want to renovate your interior or exterior first.
Which one should you do first?
There are many factors to consider when deciding which project to start with. The most important thing to consider when deciding which project to start is whether the structure is old or new. It is important to assess the condition of the roof and windows as well as the doors, flooring, and electrical system. The location, style, number of rooms and size of a new building are all important aspects.
If the building has an older roof, it is worth looking at the roof first. You might consider starting the renovation immediately if the roof appears to be in danger. The roof should be in good shape before you move on to the next stage. Next, inspect the windows. You might need to replace them if they are damaged or stained. After that, you can go through all the doors to make sure they are clear of any debris. You can now begin to install the flooring if everything looks fine. You should ensure that the flooring does not crack or become unstable no matter how many times you walk on them. Now you can start to add the walls. You can now examine the walls to check for cracks or damage. If the wall appears to be in good shape, you can continue to the next steps. Finally, once the walls are inspected, you can work on the ceiling. Make sure the ceiling is sturdy enough to withstand whatever weight you place on it. If all is well, then you are ready to move on to the next phase of your renovation.
If the building was new, you will want to inspect the exterior. Take a look at the outside of your house. Is it well maintained? Is it free from cracks? Does the exterior look great? If it doesn't look good, you need to fix it. You don't want your home to look poor. Next, make sure to check the foundation. The foundation should be inspected for weakness and repaired. Also, inspect your driveway. It should be smooth and flat. If it isn't, then you should probably fix it. Also check the sidewalk when you are checking the driveway. You should replace the sidewalk if it's uneven.
After you have checked these areas, you can move on to the interior of your house. The kitchen is the first thing you should inspect. Is it clean and well-maintained? You should clean up any mess. Next, you should inspect the appliances. The appliances should be in good working order. If they aren’t, you need to either get new ones or fix them. You can then inspect the cabinets. Paint them if they're stained or scratched. If they are in good order, you can move onto the bathroom. Here, check the toilet. If it leaks, then you should probably get a new one. You can wash it if it is just dirty. Next, examine all the fixtures. Check that the fixtures are clean. If they're dirty, you need to clean them. You should also inspect the countertops. You should repaint countertops that are cracked or chipped. Sealant should be used if the surfaces are smooth and shiny.
Check the furniture last. Check that nothing is damaged or missing. You should find what is missing if it is not there. You should repair anything that is damaged. Once everything is in order, you can then move on to the next step.