The Top 5 Home Improvements That Increase the Value of Your Home

Meta description: The top five home investments based on return on investment are replacing garage doors, installing wood decking, kitchen remodeling, basement remodeling, and replacing the exterior siding.

Many homeowners think that making improvements to their home is a waste of money – a decision that they will never make again. But some improvements can actually increase the value of your home if you plan to sell it.

But that’s not really how it works in practice. If you spend money to improve your home, it will increase the value of your property when you come to sell it – sometimes by more than the amount you spent! Whitney Homes has everything you need to increase the value of your home by making improvements to it.

Here are the top five things you can do to increase the value of your home.

#1: Updated Garage Door

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Buyers understand that garage doors cause nothing but trouble. They are constantly breaking down, because of all the complicated gears and motors that they contain.

Buyers get carried away when they see a new door in the driveway. They think that buying a new door will mean saving money. Many buyers are thrilled to be able to buy a new garage door as soon as they move in. They are excited to save money by not having to call a repair team out within a month. Installation of a new garage door can cost you less than $1,500, and still give you a good profit. That means that the real price (if you do wind up selling your home) of a $1,500 door could be as little as $20.

#2: Wood Deck

Decking made from wood or composite materials is becoming increasingly popular. It’s taking market share from traditional patios. Homeowners like being able to entertain guests on a raised platform in their back garden while they view their land. What a wonderful experience to be able to spend some time on a raised platform, gazing at the mountains and chatting with friends.

But a deck is worth more than just looking good. Like garage doors, decking is very worthwhile and offers impressive returns.

What you get back depends on the property you purchase and the location. But you could receive huge profits from selling your property in some areas. You may get as much as 83 percent.

#3: Kitchen Remodel

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Kitchens are often an attractive feature for buyers when they look at new properties. They either love it or hate it! It’s either they love their kitchen or they hate it.

People didn’t think that a huge kitchen remodel was worthwhile; estate agents recommended doing a small refresh when selling a house. Estate agents generally suggest that homeowners save money elsewhere or, at least, that they do a quick renovation.

But new research suggests kitchen renovations may actually be beneficial. Remodeling Magazine found that homeowners can expect to recoup 63% to 82 percent of the costs of their kitchen renovations when they sell.

#4: Remodel The Basement

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Basements don’t get much love from most modern homes. There are many things that make them unattractive, but when you consider the return on your investment, investing in them is a good idea. Basements are usually unattractive because of a couple of things: They may be filled with dangerous radon gas or they may be used for general storage.

If you look at return-on-investment statistics, investing in a basement is like investing in a luxury car. If you finish a basement renovation, it can be worth almost double the money that you invested. That’s not that bad.

#5: Exterior Siding

Lastly, you may want to think about investing in exterior siding. A new siding on your home will increase the value of your home by about 75 percent. New exterior siding can dramatically improve the look of your home, while encouraging buyers to spend more money to buy it.

It costs around $12 per square foot to add siding to your home. However, you could earn up to 75 percent of your investment. But, the average returns on investments in home improvement projects are around 75 percent.

Visit our website today for more information about improving your home and boosting its value.