One of the best things about owning a home is tailoring it to meet your needs and tastes. But, if you're planning to put your house on the market in the foreseeable future, then you should also consider how your projects will affect its market value. In this post, we'll discuss which home improvements offer the most payback when selling time comes.
1. Adding Attic Insulation
Our first project is so practical it may sound boring. Insulation is one of those products that stays out of sight most of the time. Yet this invisible feature can have very visible effects on your daily comfort, not to mention your utility bills. Adding attic insulation costs around $1,500, according to U.S. News & World Report. Yet it returns more than 100 percent of its expense, making a well-insulated attic a top priority for any savvy homeowner. Not only does it add value to your home, but it also helps retain heat which lowers heating costs.
2. Freshening Up the Paint
A new coat of paint can make any home look better. This fact, plus the project's affordability, make a fresh coat of paint a no-brainer if your current color scheme is over the hill. Remember that neutral colors are best if you're planning to sell.. That's because buyers want a setting that requires minimal effort to change to their liking. So opt for tones like white, gray, or beige.
3. Finishing the Basement
While not to common in San Diego, if you have a basement, you may want to consider finishing it. A finished basement is a huge plus for most buyers. It provides a handy place for a spare bedroom or family room with no need for altering the upper-floor layouts. This is one project that will pay off in terms of both sheer value and market appeal. Keep in mind that adding bathroom and sink fixtures to your basement may require a little creativity on the part of your plumber, so choose a contractor with experience in finishing basements.
4. Remodeling Your Bathrooms
Speaking of bathrooms, larger, more user-friendly bathrooms are high on most buyers’ lists of must-haves when home shopping. According to HomeAdvisor, bathroom remodeling costs range between $9,698 - $22,488 in San Diego, California. The payoffs for you and your family can be substantial, however. Imagine stepping out of a spacious shower cubicle onto heated floors, bathing in your own cast-iron soaking tub, and never having to fight over the bathroom sink again. Plus, you can bet these features will appeal to prospects when you list your home.
5. Remodeling the Kitchen
The kitchen is one of the most-visited rooms in your home, so a remodel of any scale will pay off. Most homeowners spend between $5,000 - $50,000 depending on the size of the remodel, but smaller renovations tend to add the most resale value as opposed to a complete overhaul. Bring in a contractor and get quotes on making small but noticeable changes such as adding granite countertops, updated flooring, under cabinet lighting, or a backsplash.
6. Adding a Deck
Unless you live in an extreme climate, chances are strong that your home's next owner will want to spend a good deal of time outside. A deck is important for activities like cookouts, parties, and general relaxation. It adds value to your home without the costs associated with more extensive projects. Here are some tips for getting the greatest possible value from this option:
- Consider using composite decking instead of traditional lumber. While this material costs more upfront, it will last much longer and requires very little maintenance.
- Avoid going overboard with the size of the deck. Otherwise it may overwhelm other features while giving you little added enjoyment.
- Remember that a good carpenter can give your deck a number of shapes other than the traditional rectangular configuration. Even circular patterns are within the reach of today's construction methods. Having a practical yet distinctive outline for your deck can really set your home apart.
We've given you some handy guidelines for upcoming improvement projects. Keep this information in mind when planning for the future, and you'll enjoy not only a higher home value but a better quality of living. That's a great return on any investment, large or small.
If you liked these tips, check out our list of 5 Things to Do Now If You're Getting Ready to Sell your San Diego Home.