Proven Ways to Boost Your Homeâs Value
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- Äas pĆidĂĄn 25. 04. 2023
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Im sure I didnt capture EVERYTHING but here's a small recap
Disclaimer: Dont go into debt for remodels.
General
1) Add livable square footage from unused areas
Outside
Outside
1) Replacing your garage door (93% ROI)
2) Replacing vynyl siding with stone veneer (91% ROI)
3) Adding Wood Deck (65% ROI)
Inside
1) Remodeling kitchen (71% ROI) New appliances, cabinets, hardware, sinks, countertops, floors
2) Foyer or entryway, upgrade stair banisters & flooring
3)living room - flooring, add fire place
4) Bedrooms - upgrade closets. Replace or finish flooring
5) Bathroom - Flooring, add storage cabinets, change shower heads, vanity, recaulk bathrub
6) Garage - Add storage areas
7) Basment - finish it.
Invisible
1) HVAC upgrade
2) Insulating hot water pipes, patching up, staining or sealing wood decks, replacing windows
3) Add paint
4) Smart home upgrades (thermostats, doorbell, lights)
5) Home office set up in extra bedroom
Landscaping
1) Clean up your lawn, add live plants, reseed lawn, add paper stone, make it look good.
Ask local real estate agent for specific assistance.
Add light fixtures as well
Respectfully, at 1:33, if you are have an attic space and are transitioning to a living space, you want to check with your building department/consult with a structural engineer. I only say this as I once had to go inspect a home that was older that they were trying to convert from attic space to living space and the trusses were not designed for that load. There is more to it, but just be aware, it is not always easy as people say.
I think walk in showers are a plus. I have 3 bathrooms. Two are master bedrooms. I have a tub in one and walk in showers in the other two.
All of these tips/suggestions were great. I also agree with Rachel if you're upgrading with no intentions of moving, enjoy the upgrades you paid for with cash. One frustrating thing is when a neighbor has a really nice yard and landscaping, sells the house to someone who has no interest in having a nice yard and is unwilling to pay someone to keep the yard nice. I'm surrounded by those types of people, all who moved in years after we did.đą
Honestly as a first time home buyer, the most important thing for me was that all of the big stuff works. HVAC, home appliances, water heater, etc. All the aesthetic things can be changed over time. Hopefully my perspective is helpful.
Making a home 100% handicap accessible will increase is value (using quality products that lasts well into late elder years is even more important). Aging in place is the new norm.
Lawn care products disrupt thyroid health. I keep everything closed for days after a neighbor does this. The rest of your suggestions are great.
Don't forget newly paved concrete driveway. The biggest turn off on a house is 1 with beat up, cracked and uneven concrete (or a house with no driveway at all!).
My heating and cooling bill runs under 100$/month. NG is on budget, 65$/mo averaged over the year. Summer A/C is electric and only increases the bill 100$ on the hottest of the months. My house is 100yrs old, blown in insulation that has sunk about 2/3 down the wall, single pane double-hungs, exterior storm windows only on the north and west facing walls, 22 windows need "replaced" with new energy efficient windows. 27K$ was the last estimate we got, just over 1k$/window.
Even getting back everything but 8k-ish if/when we sell, the roi will take longer than what I have yet to run out on the average life expectancy.
Another idea is to tile your shower/bathtub. Porcelain with band of mosaic glass.
I have heard of people transitioning their garage into living space as well. I personally would rather have the garage.
Can you do a video for tips or suggestions about renting your house out... instead of selling.
I'm military but don't know which way to go. Selling my first home or renting it out...
We are retired military. We bought a house in 1978. Rented it for about 20 years. Moved back into it and live here 45 years later. Lots of upgrades but cheaper than buying a new home. You just need a good property manager. The rent will pay your mortgage payment. Itâs a no brainer.
I don't care what anybody says, adding an extra bathroom, done frugally but tastefully, if you've only got one, to begin with, will increase the value if your home. It will make sake more likely. That is a fact.
Thanks for the video, but don't agree on windows. Getting these installed can be very expensive and unless you are in a really old home with really bad windows you will never make up the difference in energy savings.
Added a bathroom, had 300-500 sq ft w/o HVAC so it didn't count as sq ft. Once I added an HVAC I gained sq ft.
Whatâs olROI? I missed it at the beginning, and Iâm driving. Perhaps you would like to mention what that means later in the video. Thanks for all you do!
ROI = Return on Investment
Donât post a comment while driving!!! Silly goose
Omg it's the girl from the Dave Ramsey show. Didn't know she had a channel.
A stamped concrete patio has a much better ROI than a wood deck, is cheaper and you can boast that is much lower maintenance!
I am doing the totally opposite. anything that lowers the resale value also lowers the property tax value. currently pay $493 / year for property tax here in Lincoln county, Tennessee
Considering that both her husband and father are in real estate, sound advice!
Name a product that increases in value with age AND use.
This just doesnât make sense. So if you wanna sell your home in the near future donât bother updating anything cuz nothing apparently will increase your homes value more then the actual cost of the project.
There is also another factor to consider and that is how quickly you sell your home. Doing improvements that might be modest money losers may get your home sold much faster. If you are buying another home at the same time you are selling yours this can be huge if stuck with two mortgages. Time value of money calculations start to come in but they are hard to quantify. Needless to say if you have a half million dollar asset sitting there for months with no return you will lose more money than what you would have spent to do some realistic upgrades like painting and landscaping;.
How aggravating. Why canât you just tell me who the agents are without giving them MY info! I never agreed to that!
But if they don't have your info, how can they sell your contact info to marketing firms who will then drown you in spam emails and phone calls?
93% ROI is still a loss. Just sell your home and dont worry about improving it.
Christian healthcare ministries? You pray peoples pain away? They do that here in Colorado also