If you are thinking about selling your home, doing some upgrades like adding a palm tree in your backyard may help it bring more money. It may also assist the property to sell faster.
Add a Garage or Update Your Current One
According to HomeAdvisor, it will cost you about $50 per square foot to add a garage to your home. Therefore, the average single-car garage will cost about $18,500 to build while the average double-car garage will cost about $27,500. The amount of value that your home will gain when you add a garage depends on many factors, including the amount of on-street parking available.
If you do not have the room to add an attached garage, consider adding a detached garage. Bigger units add more value because people can see themselves storing lots of things in there. If you have a garage already, changing the garage door for a new one can up your property’s appeal making your house more valuable. If you have a garage already, changing the garage door for a new one can up your property’s appeal making your house more valuable and you can sell your house fast.
Add Stone Veneer
While some see it as a passing trend, consider adding stone veneer to your home if you will be selling shortly. According to Remodeling, the veneer is usually added only to the front of the house, with homeowners paying an average of $9,357 for 300-square-feet.
There are several different types of stone veneer that you may want to consider, including:
• Full natural-stone veneer- This veneer uses natural stone and is usually 6-to-8-inches thick.
• Thin-stone veneer – Natural stone is cut down to about a 1-inch thickness and stuck directly to the wall in a similar process to tiling.
• Fieldstone veneer- Medium-sized, round fieldstone are used to make this veneer that retains its rounded shape on the outside.
• Mosaic veneer – Stones are split in half and applied to the wall next to each other.
• Ledgestone or Ashlar veneer – Long, rectangular stones are stacked on top of each other.
• Square + rectangular veneer – As the name suggests, square rock that is rectangular is used to make this veneer.
• Dimensional veneer – Pieces are cut thin before being cut into rectangles.
The great news is that you are likely to at least break even on this project, and you will get to enjoy the look of the home while you are still living in it.
Add a Fresh Coat of Paint
Painting inside and out can add value to your home. The average interior paint job costs $967 on average and will increase your home’s value by an average of $2,001, according to HomeGain. Make the most of your investment by choosing warm natural colors for your home’s interior or choosing the best watercolor paints for your drawing. If you can only afford to paint part of your home, prioritize the kitchen, bathrooms, entryways and foyer.
Painting the exterior of your home costs $1,406 on average, and it increases your property’s value by $2,176. When choosing the paint colors for your home’s exterior, stick to no more than three colors. Try to paint 60% of your home one color, 30% another color and finish by adding a third color to your front door and some trim.
Build a Room or Bathroom
If you want to increase your home’s value, add a bedroom to it. For every bedroom added to your home, its price will go up $40,000, according to listwithclever.com. If the existing bedrooms are small, building a storage room may add more value to your home. Then, move items to that room so that the bedrooms appear larger.
According to Opendoor, adding a full bathroom to your home without adding existing square footage will increase your home’s value by 5.7% while adding a half-bath will increase the home’s value by 2.9%. If you do not have room to add a room, consider a bathroom remodel as it will increase your home’s value by 3.7% on average.
Polish Hardwood Floors
Stripping your home of tile, laminate flooring and carpeting can increase its value. Depending on the house, you may want to remove everything covering the original wood floors and buff and polish them. In other cases, you will want to cover them with engineered wood.
There are at least two reasons why having hardwood floors makes good sense. First, they look classy and elegant. Secondly, they are easier to keep clean, so buyers who live a busy life can see them taking care of them easier.
Install a New Roof
Having a new roof installed can increase your home’s value by about $12,000, according to Remodeling Magazine. Keep in mind that if your home has more than three layers of shingles on it, it can be challenging to get it insured, so the roofer may have to tear off the existing roof before putting the new one on.
The average cost of a new roof on a two-bedroom, ranch-style house is $7,500, but choosing different materials can easily affect that cost. In most cases, choosing asphalt singles is the best move.
HVAC
Installing a new HVAC system in a home that you will sell shortly can be a necessary move, but it may not be a cost-effective one. On average, homeowners recoup less than 50% of the cost of the system when the home sells. The trade-off is that depending on the housing market, you may find it impossible to sell your home without a new HVAC system.
If you decide to install a new HVAC system, choosing the greenest option is a smart move as many homebuyers are becoming more conscious about their impact on the environment. Pick a very efficient system as you will save money on your heating and cooling bills until the home sells, and it can be a great selling point. Select a system that has a small footprint so that you can use the extra space for other things that will increase the home’s value more.
If you are selling in the short-term, then choosing quick upgrades can be the best solution. Otherwise, select items that your family will enjoy. Be careful not to spend more on upgrades than the average home in your neighborhood is currently bringing if you are looking to sell your home.
