Whether you plan to sell your home soon or in the distant future, it’s worth remodeling your home to increase your resale value and attract a crowd of interested buyers. If a total home remodel isn’t in your budget, smaller upgrades such as installing siding from professional siding contractors, updating appliances, and adding rooms, all help increase the resale value of your home. You’ll also get to enjoy some of the benefits before you sell.
1. Increasing your curb appeal
Your home should look well maintained and welcoming from the outside. The exterior is the first thing buyers notice, and if it doesn’t pull their attention away from other houses on the market, they’ll walk past. This isn’t to say your home needs to be the most impressive property in the neighborhood, but it should be on par with others.
You can improve your home’s curb appeal by adding a front porch to accommodate outdoor seating, upgrading your front door, or better yet, installing new siding. New siding can be expensive, but the Cost vs. Value 2020 report says it can increase the value of your home by approximately 77.6% of the cost to install. A great siding option is James Hardie fiber cement siding, which combines durability with long-lasting colors, two features prospective buyers find attractive.
Another feature worth looking into are new garage doors, which recuperate a nationwide average of 94.5% of the cost. But if your home is in the Pacific region (West Coast), new garage doors recuperate about 117.1% of the cost. Installing stone veneer into the walkway or siding of a Pacific region home will also recuperate 119.5% of the cost.
Overall, revamping the exterior of your home will increase a buyer’s willingness to step inside. Here is where the rest of your home remodeling steps in.
2. Assuring buyers your home is functional
When you remodel for the purpose of attracting buyers, the key word is keep it simple. You don’t know everybody’s preferences or lifestyles. Not everybody needs a high-end chef’s kitchen, and minor remodelings can make a larger difference in value. Also keep in mind that major remodelings can price you out of the neighborhood.
Most buyers are looking for basic functionality. They want their new home to have dependable essentials so they can focus on their own upgrades. Helpful remodelings pre-signing include new stainless steel appliances in the kitchen, energy efficient windows, and a new water heating unit. Upgrading your siding to one that is more appropriate for the climate of your home’s region is also a great show of functionality. Home remodeling contractors might recommend the top selling James Hardie siding, which is formulated to protect against specific climate regions.
Any large issues such as a roof that needs replacement, leaky pipes, and a basement that floods, should be taken care of before you list your home. Damaged siding should be replaced to assure buyers that the elements won’t damage their new home. Most buyers won’t look past huge repairs without a significant cut into the offering price.
3. Making your home larger (or appear larger)
If you’ve wanted an additional bedroom or bathroom for some time, you should add at least one or two. Additional square footage bumps up your resale value, and if you add a bedroom that can be pitched as a “flex room,” or a room that can serve multiple purposes, you’ll appeal to a variety of buyers. Adding a backyard patio or deck also helps.
It’s not always possible to expand your floor plan, but you can still make it appear larger by knocking down walls to create a trendy and open living space. Avoiding knocking down walls between bedrooms, because two small bedrooms can add more value than one big bedroom.
Ready to remodel?
When you have an image of your dream remodeling, however vague or detailed, reach out to your local home remodeling contractors for further guidance. They know the best way to update your home and increase your resale value.
If you’re located in the Bay Area, you can contact your trusted contractors at Mares & Dow Construction & Skylights for best options in resale value improvement. With over 35 years of experience, you can feel confident you’re choosing the best in business.