Upgrading a home is often high on a homebuyers agenda right after they buy a house and right before the plan to sell a house. During the immediate post-buying phase, it’s all about making the home right for your needs. In the immediate pre-selling phase, it’s all about increasing the value of the home.
Of course, not all home improvements for resale deliver that improved sale price. So, what adds value to your house and what should you take a pass on? Keep reading and we’ll cover the best home improvements for resale, as well as a few things you should take off your list of home projects that add value.
Best – Kitchen Remodel
Over the last few decades, the kitchen has become the social focal point in most homes. It’s also ideal for remodeling because you can typically upgrade nearly everything in a kitchen. A nice kitchen with good appliances will almost always recoup most of its cost in added value.
Best – Attic Insulation
Utility costs often chew through upwards of $400 monthly for a home. Yet, those costs can go up substantially if your home is not adequately insulated. Installing some extra attic insulation helps ensure your home remains comfortable year-round and typically pays for itself in improved home value.
Best – Solar Panels
A lot of people hold strong views about the need to protect the environment these days. Solar panels provide a highly visual commitment to that point of view and offer legitimate benefits in terms of utility costs. You can find solar near you in most locations if you want an upgrade.
Avoid – Backup Generator
A backup generator provides a lot of value during an emergency. Even limited electricity access can make an emergency more bearable and survivable. Yet, homebuyers don’t generally view them as adding meaningful value to homes in terms of the purchase price.
Avoid – Master Bedroom Addition
Additions are an expensive proposition with a lot of logistics and details attached. As additions go, a master bedroom doesn’t recoup its costs. Busy parents and professionals don’t spend much time in them, so they won’t pay more for them.
Avoid – Garage Addition
Adding a garage when a home lacks one might add value, but expanding a garage doesn’t do much for either curb appeal of value. Unless a buyer plans on using the garage for some secondary purpose, like a home woodshop, they won’t pay extra for it. Don’t expect to recoup your investment.
Picking the Best Home Improvements for Resale
Picking the best home improvements for resale can depend a little on your location. While a kitchen upgrade will prove almost universally beneficial for home values, something like attic insulation will mean less in a moderate climate.
Before you go on an upgrade spree, read up on the local real estate trends. Talk with your realtor about what’s adding value in your neighborhood, city, or region. This will help you narrow down the options that will provide the most return for your investment.
Looking for more home improvement tips? Check out the articles in our Home Improvement section.