Whether you are loving or listing, your home can benefit greatly from the right improvements. Read here to find the best home improvements to add value!
The United States housing market continues to rise. In spite of a global pandemic, houses are selling like hotcakes. Home prices are also sky high and still trending up. Through the end of 2021, home prices are forecasted to rise nearly 6%.
There are a few different factors that affect rising home prices. For starters, housing inventory is near record lows.
Inventory declined by nearly 40% last year. This means that demand is outpacing supply and driving prices up.
Another way to boost value is by completing home improvements. Read on to learn about the best home improvements to add value in Maryland. Explore the best home renovations that are certain to increase your property’s value.
First impressions are everything in real estate. Without a fresh exterior, neighbors and prospective buyers are likely to pass your house without even a second glance. You can make your house the envy of the neighborhood by replacing the siding.
Vinyl siding comes in vibrant colors that draw immediate attention to your house. Popular colors in today’s market include blue, green, beige, and grey.
Replacing your home’s siding has great resale value as well. Experts estimate that replacement siding recoups 78% of its costs at resale. Other benefits are that siding requires little maintenance and lasts 25 years or more.
If you are on a budget, consider power washing your existing siding. This way, you present a clean and fresh look to onlookers.
One of the first questions asked by a prospective buyer is about the age of the roof. Most homeowners understand that the roof is a sizable investment. A home with a fresh roof is going to be in demand.
There are a few different ways to tackle a roof renovation project. You can opt to replace the entire roof.
Some homeowners take a more budget-friendly approach. One option is to add a new layer of shingles on an asbestos roof.
Another choice is to hire a professional company to power wash the roof. This is an effective way to rid your asphalt roof of stains and algae. Professional companies use a low-pressure cleaning system to ensure there is no damage.
Today’s kitchens are more than just a place to cook and store fit. With the open floor plan concept taking off, kitchens are an integral part of entertaining guests. This is why so many people are opting to renovate their kitchens.
Renovating your kitchen is a great investment. On average, kitchen remodels recoup 70% of the investment cost at resale.
A renovation project does not require a complete gutting of the kitchen. You can take a tailored approach and retain the items that you like. In many ways, the scope of your project is dependent on your budget.
For example, you may be considering a kitchen island installation. Kitchen islands are a popular place to entertain guests.
Perhaps you want to replace the kitchen cabinets and countertops. There is also flooring, appliances, and plumbing to consider.
Either way, you can create a tailored approach to your kitchen remodel. Pick the sub-projects that are most important to you. Regardless of what you choose, the result will yield a positive impact on your home.
Bathrooms are another one of the best value-adding home improvements. They are no longer a room for a shower and a toilet. Instead, the bathroom is a focal point for luxury and serenity.
Homeowners that choose to completely gut the bathroom are looking at $20,000 or more in investment costs. There is so much to rework in the bathroom.
You can add an elegant standing shower with glass doors and stone tile walls. Many homeowners are installing oversized bathtubs that scream relaxation and class.
Comfort is the primary benefit of a bathroom remodel. Homeowners enjoy the perks of this project on a daily basis. At the same time, it makes your house more appealing to buyers and recoups a sizable share of investment costs.
One of the hottest trends in real estate is outdoor living space. Your backyard provides valuable square footage to tap into. There is a more practical purpose for your land than another row of grass or stones.
Instead, homeowners are taking on projects that add living space. At the same time, they are not sacrificing natural sunlight and the beauty of the outdoors.
A paver patio or composite decks are both great starting points. Here, you can put comfortable outdoor couches or chairs for guests. Many homeowners also add a grill or fire pit to entertain and feed the company.
The most innovative homeowners are taking their outdoor renovation projects to the next level. They are adding a sunroom or enclosing their patios.
This way, the outdoor living space is utilized for the entire year. In the winter, outdoor fireplaces or heaters are used to keep the space cozy. Your weekend parties are no longer dependent on sunny weather.
Pivoting back to first impressions, your home’s front and garage doors are crucial. You can raise eyebrows by replacing your plain door and installing something extraordinary. If a new door does not fit within your budget, consider a fresh coat of paint or wood stain.
Another area for consideration is your garage door. Plain white garage doors do very little for curb appeal and resale value. Instead, consider replacing your garage doors or adding a paint job.
There are steel constructed garage doors that resemble beautifully stained wood. Insist on some beautiful window designs to allow natural light in the garage. These windows also give the garage doors an aesthetically appealing look.
The best home renovations serve several productive purposes. They make your quality of life greater while residing at the house. When you decide to sell, these improvements add value to your home.
Projects like renovating the kitchen or bathroom go a long way. Power washing the roof or siding are effective projects on a budget.
If you are ready to move forward with the best home improvements to add value, contact us today to schedule a consultation.