Chances are, at some point, you’ll want to sell your Macomb County home.
Maybe early next year. Maybe in two years. Perhaps in 20.
Regardless, making sure your home is updated in certain areas will improve its resale value.
Home improvements that provide the best return on your investment
The best renovations – the ones that give you the highest return on your investment – for your Shelby Heights home are those that “add functional space and square footage.”
Some examples:
- Finishing your basement.
- Adding on another bedroom or bathroom, a family room or porch/Florida room.
- New or revamped kitchens.
What might not provide much value in a home resale?
- Improvements that don’t improve home resale are those that don’t add function/more space, such as luxury upgrades, “aesthetic” improvements (making the opening from your living room to dining room into an oval, rather than a rectangle, for example).
- Projects that are far above and beyond projects typical for your neighborhood.
On average, you should expect a return-on-investment of about 70 percent (on average) with a home improvement project that adds the aforementioned “functional space and square footage.”
The improvements that add the highest percentage to your home’s value include:
- Adding a pool
- Finishing a basement
- Adding a third bedroom
- Adding a full bathroom
- Adding living space (family room, Florida room)
- A full kitchen remodel
- A full bathroom remodel
- Installing hardwood flooring
- Adding a half bath
- Adding an attached garage.
However…
…..don’t renovate only to improve home resale value.
Instead, do so because you need more room. Your siding is failing. Your roof is leaking. Your kitchen floor has holes in the linoleum. Your cabinets are too small for your kitchen’s needs.
And so on.
However, another reason to make some improvements on your Sterling Heights home is to help it sell more quickly when it is time to sell.
Let’s not forget the outside of your home: spending on improving your home’s outside look (its “curb appeal”) in landscaping, simple hardscaping, painting, etc. can boost your sale price by almost $12,000.
Learn more about how Rock Solid Exteriors can improve your home’s resale value.
