5 Home Improvements That Could Help Your Resell Value

When it comes to home improvement projects there seems to be a never-ending wish list. How do you decide which to do first? Some, such as cosmetic updates, are definitely more “fun” than others, while upgrades such as added insulation–though perhaps not outwardly visible–add to the value and comfort of your home. Knowing which investments have the greatest impact on the appraisal value of your home can help you make informed decisions regarding the priority of the items on your list. You may still choose to make updates based on personal preferences, but awareness of an investment’s return value may help you better manage your home-improvement budget.

Projects that Add Value to the Home

1. Kitchen Remodels
Most buyers are attracted to updated, modern kitchens. You needn’t go overboard on a remodel prior to selling, but a kitchen with updated appliances and perhaps a fresh coat of paint on the cupboards will attract buyers in a big way.

2. Bathroom Upgrades
As with kitchens, buyers like the reassurance that the “big things” are already done in a home they are considering for purchase. It’s much easier for a buyer to consider repainting a few rooms than it is to envision budgeting for an entire bathroom or kitchen renovation.

3. Basement Finishes
A basement finish always increases the value of your home by adding livable square footage. Go with a professional company to ensure that the finished product is fully-permitted and built to-code.

4. Energy-Efficient Upgrades
If you opt to install any of these upgrades, be sure to advertise them to your buyers, as the features themselves may not be readily apparent. With energy efficiency a growing concern, adding upgrades that pay for themselves in the long run seems a smart choice, and one that will have definite appeal to cost-conscious buyers.

• Appliances
• Windows
• Insulation
• Replacement Siding

5. Home Technology Upgrades
As Smart-home technology becomes evermore prevalent, buyers may begin to see these features as “must-haves.” Including these technological updates in your home will help make it competitive in the resale market.

• Programmable Thermostats
• Security Doorbell
• Multi-Zone HVAC

Projects that May Not Add Resell Value

• In-ground swimming pool
  Some buyers will see an in-ground pool as more of a liability than an asset.
• Commercial Kitchen
  While a kitchen update proves a worthwhile investment, going overboard on a kitchen remodel may mean that you won’t recoup all that you spent on the remodel in the resale of the home. Not every buyer belongs on Top Chef and requires Viking appliances and commercial-grade accouterments.
• New Roof
  A new roof is reassuring to most buyers, but is not likely a make-or-break item, as long as the existing roof is not faulty.
• Room Additions
  A single room addition is not likely to add substantial value to the home.
• Decor Updates
  Updating decor can work for or against you, as matters of taste are so subjective. When in doubt, go neutral–no matter how much you love the animal-print wallpaper!

Another important consideration is the area in which your home is located and its relative size compared to neighboring houses. For instance, if your home is the smallest on the block, then a room addition might be a good investment. If, however, yours is already the largest home, then adding square footage may price you out of the market.

In the end, it’s all about you and your family. Do you plan to live in your home for many years to come? If so, you will want to make upgrades that improve your quality of life. If you expect to move in the next 5-7 years, then you may want to reconsider improvement projects, and choose those that yield the highest return on investment.

Let us help make your custom home dreams come true! Call us today:  303-420-0056. Sheffield Homes has decades of experience working with buyers in the greater metro Denver area and in Northern Colorado.