First time homeowners know that buying a home is one of the most important investments you can make. And while signing the papers on your first home may feel like getting rooted in your perfect pad, the truth is that most millennial homeowners end up moving multiple times, due to changing factors in family and career. This is why the resale value of your home should be the primary focus from the start.
Selling your first home may seem more stressful than buying a home, but these simple tips on increasing your home’s resale value can go a long way in removing stress from the equation. That’s why we’ve partnered with H&R Block to bring homeowners a guide to home improvement projects with the best return on investment. Whether you are looking to sell now or in the distant future, knowing how to increase the value of your property is a great investment in your future.
1. landscaping wisely
Like a good haircut, a patio should frame the face of your home in the most flattering way possible. After all, your yard is entirely responsible for your property’s first impressions. While it’s pretty obvious advice to keep your lawn mowed and weed-free, some outdoor renovation projects are more likely to add value than others.
Forget about add-ons like a pool or hot tub, which can signal potential buyers more maintenance than enjoyment. Instead, focus on the classics. Making sure your yard has two healthy, thriving trees is a foolproof way to boost the resale value of your home more than you think. scan the National Tree Benefits Calculator To find out how the trees in your zip code affect property values, storm water runoff, and other homeowner considerations. You’ll also want landscaping with native plant species, which will boost the value of your home without adding significant maintenance costs. When considering tackling a patio renovation project, consider whether it will appeal to most people. ship surface? yes. hedge maze? Not much.
2. Update your front door
If you’ve dazzled house hunters with your stellar landscaping, the next place their eyes will go is your front door. And it plays a huge role in the resale value of your home. In fact, according to a cost-for-value report he did ReformationReplacing an old entryway can have one of the biggest returns of any do-it-yourself home improvement. Update the look of your entire home with a door that uses modern materials and a fresh color scheme.
3. Repaint the floors
Flooring is another make or break factor for most buyers. Gone are the days of wall-to-wall carpeting that indicated luxury; Instead, they just indicate a lot of dust mites and sweeping. Wood is always a classic choice, with varieties such as oak being safe bets among home hunters. Replacing floors that show signs of wood rot or termites is another great way to add value to your home. To show off some less expensive TLC to your floors, repair broken tiles or add a well-placed nail to hide annoying creaks.
4. Make your home more energy and cost efficient
According to a annual survey Done by the National Association of Realtors, millennials make up 35 percent of all first-time homebuyers. This tech-savvy generation is on the lookout for real estate with smart home technology upgrades that will provide enhanced security, energy efficiency, and savings. Smart thermostats, lighting, and door locks can be a huge draw for millennials, who appreciate the ease of controlling their homes with a smartphone app, even when they’re away from home. And smart thermostats can save up to 10 percent annually on home heating costs, proving that connected home apps aren’t just a passing trend.
Energy efficient upgrades can also bring homeowners tax credits, so be sure to check out the updated homeowner credits available through the U.S. Department of Energy. A 30 percent tax credit for installing solar power systems has been extended through 2019, and credits are available for several other energy-efficient home improvement projects.
5. Update the kitchen
The average cost of a kitchen remodel is $20,000, according to home advisor. This is no small renovation cost, but when you consider that updated and modern kitchens are a major selling point, the cost of remodeling can greatly boost your resale value. And you may not need to do everything in the rejuvenation process when a facelift can go so far. Consider adding a batch of new stainless steel appliances, cabinets, flooring, and a modern counter to update your kitchen on a smaller budget, depending on which aspect of the existing setup could use a face-lift.
6. Bathroom renovation
While a kitchen remodel can get expensive pretty quickly, there is a lot of mileage you can get from a bathroom upgrade in the $500 range. Cleaning grout, re-caulking the tub, and replacing an old vanity for a granite version can all make an old bathroom look clean and modern in time for Open House Day.
H&R block He believes healthy finances are at the core of finding happiness as a homeowner. For more than 60 years, H&R Block has been the go-to resource to help you not only get your taxes done, but win, with more options to file online for free. Because we want you to focus on filling your home with happy memories instead of stressing about filing your taxes.