One of the greatest problems with doing a home remodeling project lies in the fact that not every investment necessarily pays off in terms of net value. For instance, fixing the roof boosts your home’s energy-efficiency and drastically boosts the quality of life within the given home, but if you intend to sell the place right away, you aren’t likely to see a great ROI. This is why you need to be aware of micro-projects that do give you a positive net value boost. Here are our top four choices.
Garage door replacement
The first thing you need to understand is the fact that a certain part of your home attracts the most attention doesn’t mean it’ll give the best ROI at the resale. For instance, a garage door is something that most visitors notice passively at first and inspect closely later on, and it can give you 98.3% of the initial value. For instance, the average cost of a garage door replacement is at about $3,470 and you’re likely to get as much as $3,411 of average resale value upon selling your home. Naturally, this replacement should be mentioned to the real-estate agent, so that they can point it out during the tour as one of the home’s selling points.
Entry door replacement
Anything that has to do with security is always a point of interest for a potential home buyer. Naturally, the best example of how this works can be seen in the example of entry door replacement. This is an investment that usually pays off about 91.3% of its initial value upon the resale. Due to the fact that it gives you the comfort of living in a safe home and may even become a strong selling proposition during the negotiations, it’s definitely an investment worth making.
Electrical grid and plumbing
Any seasoned buyer’s agent or even an experienced buyer is bound to check the state of the electric grid and the plumbing within your home. With so many homes on the market, why go for the one with leaky faucets and flickering lights? These are simply some problems that are immediately noticeable, so this will make any buyer think about all other systemic and infrastructural problems that they’re yet to uncover. Keep in mind that this problem is something that can occur at any time of night or day (even the night before the scheduled tour), which is why you need to have a reliable electrician nearby. For instance, those living in western Sydney should benefit from having the number of the Western Sydney electrician on speed-dial.
A kitchen remodel
In the first section, we’ve mentioned things that people are bound to notice first about your home. Naturally, any buyer heads to the kitchen and the bathroom first, seeing as how these are the two most functional rooms in your household. This is why doing a minor kitchen remodel tends to recover about 81.1 % of its total value upon resale. However, try not to be extravagant when picking fixtures and appliances. You aren’t preparing a family home but rather a project to increase the appeal of your home and boost its resale value.
In the end, some may question how smart it is to spend money on something that won’t return the investment in its entirety. After all, even the best of investments (return-wise) doesn’t bring back 100 % of the initial price. The answer to this is simple – these four simple improvements can make the difference between you being able to sell the place as soon as it appears on the market and you not being able to sell it at all. As you can see, it’s a world of a difference.
Author Bio: Amelia Atkins is an author at Smooth Decorator and a fresh architecture student. The love for architecture and design runs in her family and she knew what she wanted to do from a very young age. You can often find her with a notepad in hand, just looking at the clouds, dreaming about the next skyscraper. Twitter / Facebook.