With Northwest real estate prices rising, which home projects will give you the best return on your investment when you sell?
From HGTV, to SmartMoney to realtor websites and blogs, we’ve examined 7 of the top articles on projects gain resale value.
The articles had these 5 themes in common, making these the best of the best resale value home projects:
- The DIY basics still work. Paint, de-clutter, stage the furniture, add lighting and clean, clean, clean.
- Tackle the un-glamorous necessities: Have mechanical systems in good working order including plumbing, electrical, heating, and air conditioning, and water heating. Some authors recommended pre-inspection of your systems to identify serious problems and correct them, before your buyer finds them on their inspection.
- Focus on these top ROI (return on investment) updates when doing some pre-sale remodeling. Many articles cited that repairing or replacing that old siding with vinyl or fiber cement siding provides the number one return on investment of any project. A modern kitchen, and bathroom update or addition of an extra bathroom will also provide strong positive return. Most stressed the point that even if you can’t afford new kitchen cabinets and appliances, you can update the look of the kitchen with a re-stain or paint of cabinets, new hardware and lighting.
- Energy saving or ‘green’ upgrades add value in two ways. You modernize the house and save money on energy bills, which will make buyers happy. Some upgrades discussed in the various articles included: low flow toilets, insulation, insulated windows, heating systems, and entry doors.
- Curb Appeal. More than one article pointed to the fact that this is so influential in selling, there’s now a TV show dedicated to just this. Curb appeal means your house has a desirable look from the street, including the front door, the windows, hedges, walkways, garden/lawn area. Strong curb appeal pre-disposes the buyer to like the house before they enter.
As SmartMoney.com said, don’t forget “good taste endures.” Not all upgrades provide return on investment. Personalized or extravagant upgrades, such as pools, fancy gardens, marble floors in the bathroom or hand made custom kitchen cabinets may not provide as much return as other more classically styled, basic upgrades or replacements.
Click for a chart that shows all of our sources and what each of them listed as their top 5 ROI projects (in order).
Whether you are planning a move or want to increase your home comfort, Washington Energy Services has heating, windows, siding, insulation, plumbing and more, all with one call. Get a home energy specialist to review your project by calling 800 398 4663.