Seven Ways To Raise Your Home’s Value
In this article, you will explore 7 ways you can increase the value of your home in just about 60 days.
People have different reasons as to why they buy houses. For some people, a house represents ownership, safety, and stability, while on the other hand, others look at them as investments, where they plan to resell or rent them out. But at the end of the day, it does not matter how you look at your house, you still have to invest in its upkeep and maintenance.
In this article, we will explore 7 ways you can increase the value of your home in about 60 days.
All of the websites featured in this article offer multiple 100% free quotes from different reputable contractors near you, based on your ZIP code and the info you provide them. This will make comparing between offers and deals easier and quicker, so you can eventually go with the one that best suits your budget & preferences.
1. Replace your Old Windows
Duration needed for this project: Each window takes about 30 minutes. An average job takes a single day.
A major advantage of installing replacement windows is that they are much cheaper and quicker to install than new construction windows. Generally speaking, you can recoup 60-90% of your replacement window investment.
When it’s time to sell the house, vinyl replacement windows can recoup around 72% to 74% of their cost, while wood replacement windows can see returns of 71.9-78.8%, according to national estimates.
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2. Replace your Home’s Flooring
Duration needed for this project: In occupied houses, a crew can typically install around 400-600 square feet of laminate, hardwood, or resilient, and about 200-400 square feet of tile or stone in a couple of days.
Installing new flooring in your home will absolutely impact your home’s value. Furthermore, one study stated that 94% of realtors will tell you to replace old flooring if you want to raise your home’s value. Some brokers report that spending $600 – $900 could bring in a return of $2,000.
3. Change your Roofing
Duration needed for this project: Could take from 1 day to a few days or more. This project depends on the roof’s size and complexity, as well as the weather.
Fixing or replacing an old roof will most definitely raise the asking price of your home to market or above-market levels. There’s no debate about that. However, replacing a new roof won’t increase your home’s asking price, but replacing an old one that’s lost a lot of the qualities that made it functional and aesthetic definitely will.
If you play your cards right, hire the right people, know the potential returns on your investment, and employ the right materials for the job, you could recoup close to 69% in resale value for your property.
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4. Install Solar Panels
Duration needed for this project: 1 to 2 days.
Installing a photovoltaic solar system to a house is almost always a good investment. It could contribute to increasing the home’s value by 3 to 4%. The combined benefit of higher resale value and a lifetime of energy savings makes solar a compelling financial investment.
Find Top Solar System Deals and Prices Near You Today and Compare Quotes
Recouping your solar power investment used to take around ten years in the past, but now, with 2018’s solar programs, homeowners can use their solar incentives to offset the cost of installing solar panels, and start saving money right from the start. Click here to see how much you can save >>
5. Install a Central AC
Duration needed for this project: It can be done by two technicians in 2 to 3 days.
According to the National Association of Realtors, central air conditioning adds around 12% to the home’s value, on average, throughout the country. If you are looking to sell your home in the future, installing central air could help to place you above your competitors, as well as get you a better deal on your home.
6. Install a Home Security System
Duration needed for this project: Around 2 to 3 hours.
In an insurance company’s eyes, having a home security system will show them that you’re serious about your home’s condition and will be more willing to give you a discount, typically of 15%, or even 20%.
Being insured also helps you in shopping for a better mortgage when it’s time to buy a new home, or refinance. This can manifest in a lower down payment, fewer restrictions, lower rates, or a shorter loan term.
Moreover, a sleek-looking camera hanging over your front door does not only enhance your home’s curb appeal, it encourages your prospective buyer to seal the deal knowing that they get security as part of the whole package!
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7. Reface or Remodel your Kitchen
Duration needed for this project:
- Refacing: Most refacing jobs can be done in 2-4 days.
- Remodeling: Remodeling takes between 4 to 6 weeks, on average.
If you’re on a budget but want to improve your kitchen, then refacing is what you are looking for, especially if your cabinet frames are in good condition. The average cost of cabinet refacing is around $7,400. To find more local info on refacing, click here.
Well-done home improvement projects, like kitchen remodeling, tend to help homes sell quicker in addition to improving homes’ all-around selling prices. To compare kitchen remodeling and installation costs in your area, click here.