Although the maintenance cost can appear quite high, purchasing a house is highly advantageous for those who are considering having a family. It guarantees that they will not be forcibly evicted by a landlord for no good reason. Rent payments can also unexpectedly increase without you having no control over it.
Homeowners also have more freedom to improve and change things about their homes for personal reasons. This is an important factor because they can actually make home renovations that can improve their houses’ overall value. A lot of landlords tend to neglect making improvements to the property, and it may be difficult to have things fixed as a renter. Having control over what can be done in your place of residence is highly valuable in the long run.
But not all projects yield good returns in the future. Some have higher recoupment and are more valued by both realtors and potential homebuyers. When figuring out what to do with your home, here are the top renovations that can boost its resale value in the future:
Replace the roof
One of the most important things any person looks for in a home is a reliable roof. Everyone wants to go home to a house that doesn’t leak or threatens to fall during a storm. A leaky room can easily turn anyone away no matter how good everything else is.
According to a report, replacing the roof can increase the home’s value by at least 60 percent. The first and most obvious reason for this is that the roof is one of the first things a person sees when checking out a home. If they see that the roof is deteriorating from the outside, it can very well give them the perception that the interior is as bad.
From a more human perspective, roofs need to be sturdy to withstand harsh weather conditions. At the very least, homeowners need to do regular maintenance checks to ensure the quality of their roofs. They can also replace the material with something more durable such as asphalt shingles.
Asphalt shingles can easily last up to 30 years and are more cost-efficient than other materials. They also come in a wide range of designs that can allow them to be customized to fit the overall aesthetic of the house. Some asphalt shingles are styled to resemble wood, tile, and cedar shakes. They are also a popular choice for DIYers because they are extremely easy to install.
Refurbish the kitchen
The kitchen is one of the most valued parts of a home. It’s where we prepare one of our basic human needs. Many spend a lot of their time in the kitchen, whether they are single or married. This is considered a highly personal space that rivals even the master bedroom.
A survey by The National Association of Realtors revealed that 95 percent of people are happier with their homes after upgrading their kitchens. The main reason is that it just gives the house a more functional and livable atmosphere. Many people wish to have a kitchen that fulfills all their needs.
But the kitchen can easily be one of the most expensive rooms to renovate. It requires a bit more technical work such as plumbing, electricity, and other mechanical aspects. Luckily, remodeling a kitchen doesn’t have to be too fancy, unless you personally prefer a more professional-looking one.
In New York properties, studies show that even a minor kitchen remodel recoups 84.2 percent of its cost. Something as simple as installing new cabinets or laminating the countertop can make the difference.
Modernize the bathrooms
Bathrooms, just like kitchens, are essentials that people spend the most time in. Before thinking about remodeling, it’s best to consider if you have a good ratio of rooms to bathrooms. The last thing anyone wants is a three- or four-bedroom home with just one bathroom. There should be at least one and a half bathrooms for every three-bedroom house.
In some cases, a remodeled bathroom can recoup over 100 percent of its cost. Just like the kitchen, it can be one of the costliest because of technical things such as plumbing. But it’s always worth the investment.
The main thing you need to do with a bathroom is to make sure that there are no leaky pipes. Functionality takes precedence in this case. If the bathroom is a bit old, getting a new toilet and tiles is also an option. Another thing that realtors consider is the lighting.
Adding a bathroom in itself can also increase the retail value. Many homeowners convert extra space into a second bathroom. This alone can increase the resale value of the home by 8.7 percent, according to realtors. It doesn’t have to be a full bathroom, either. Most people would actually prefer one full bathroom and one half bathroom, regardless of the number of rooms available.
Improve the landscaping and curb appeal
Who wouldn’t be charmed upon seeing a home with a clean front yard filled with beautiful plants? Curb appeal is guaranteed to increase the demand for your home. Additional effort on landscaping and curb appeal is said to increase a home’s perceived value by 11 percent as well as make it sell faster, according to research by the University of Michigan.
It’s always good to make a good first impression when trying to resell your home. Simply clearing out weeds and dead plants can do wonders. Naturally, pair off landscaping with a matching paint job to the exterior and a new door as well.
Landscaping is also one of the cheapest ways to improve home value. Plants don’t really cost that much, and it can be extremely fun to design the yard with them, too. Experts suggest strategically planting native trees to increase curb appeal. To reduce cost and maintenance effort with plants, swap out seasonal flowers with perennial ones for more longevity.
There’s more to being a homeowner than just buying a house. The entire property itself can be your own little project, and it’s really satisfying seeing the fruits of your labor. Even if you suddenly decide not to sell your house, it’s still nice to live in a home that fits your needs and style.