5 Surprising Home Value Boosters
Thinking of selling this year?? Have a look at the Top 5 Home Value Boosters. It's not just about renovated kitchens and bathrooms as many may think!
For years you've heard that renovated kitchens and bathrooms garner the greatest returns. But there are many other areas of the home that have not received the attention they deserve, especially in terms of your return on investment (ROI) These home value boosters won't break the bank, but can make a big difference to how buyers view your home.
Home Value Booster #1: Entry Door (Estimated ROI - 90.7%) :
Safety first gets a lot of ears ringing! Replace your door with a reinforced steel door for that added safety appeal plus an updated look!
Home Value Booster #2: Garage Door (Estimated ROI - 76.9%) :
A newer model with built in insulation and steel tracks will cost approximately $1800, but this upgrade appeals to those who live in a cooler winter climate and for those who value their car’s safety! Great for Canadians!
Home Value Booster #3: Energy Efficient Windows (Estimated ROI- 77.5%) :
Even if this update may not be so visually noticeable, it is notable when it comes to the homes energy efficiency. It is estimated that window replacements can return as much as 77.5 percent of their initial cost at resale (according to fortunebuilders.com) High efficiency windows can have a great impact on a home's value!
Home Booster Value #4: Outdoor Living Space (Estimated ROI- 73%)
A new deck is a great addition to your home and provides that extra home footprint without costly interior renovations and give you an outdoor space that many potential home owners want. According to Colleen Kane, real estate writer for CNBC.com, for a new deck costing about $15,000, would add about $11,000 to the asking price, for a ROI of 73 percent.
Home Booster Value #5: Family Room Addition (Estimated ROI- 69.3%)
All the rage today are open floor plans! This addition is believed to set you apart from the rest of your neighbourhood. While this reno is costly the rewards can be even greater, especially when competing with homes with a cramped stuffy feeling and outdated layout.
*All ROI estimations gathered from Nasdaq, CNBC and Fortune Builders articles
*Info Sourced By: http://www.nasdaq.com/article/10-home-upgrades-that-boost-resale-value-and-how-to-pay-for-them-cm834270 and https://www.cnbc.com/id/48692031 and https://www.fortunebuilders.com/time-tested-remodeling-projects-with-the-highest-roi/
*Images Sourced By: Pinterest