Even if you don’t plan to sell your home anytime soon, thinking about upgrades now can help you. You can enjoy new amenities ahead of selling and increase marketability in the future. Realtors recommend you consider home upgrades that add value to your home ahead of listing. But how do you know which upgrades will give you the most bang for your buck? Some home upgrades to make before selling may come with higher upfront price tags, but nearly pay for themselves. Below cover a few things to consider.
Home improvements should increase the overall value of the home and its attractiveness to potential buyers. Just throwing in a few shrubs and random flower beds out front before putting on the market won’t cut it. Whole industries have cropped up on ranking the upgrades to make ahead of selling. Experts use data to advise on everything from trendy colors to paint your front door to the size of planters.
Every year, Remodeling Magazine releases their Cost vs. Value list of home improvements. They look at total project cost, resale value and calculate percentages of cost recouped in a home’s sale. The list averages out and ranks ROIs nationally and regionally. In 2020, manufactured stone veneer took first prize in national and garage door replacements took first prize in the Mid-Atlantic region. They even provide recommendations just for the Pittsburgh area.
Head of the Upgrade Class
Other high-ranking upgrades include:
Updates to Proceed with Caution
Certain circumstances can justify specific exterior improvements. For example, curb appeal means more in certain neighborhoods than others.
Flagstaff walkways: Having an inviting path to the home or comfortable outdoor spaces (see above) can really bring a yard together. This works better for a home with a more expansive yard. But even a small yard can benefit from a well-maintained front walkway.
Increasing the joy your home brings you and adding value to your property helps more than just listing prices. Even if you don’t plan to move, a home equity loan can help you tackle these projects all at once. To learn more, speak with an expert at your local office or call our main line at 1-888-BANK (2265).