Prepping your home to sell: 3 projects to increase your ROI
While there are plenty of ROI’s big boosters, picking out the hidden gems of smaller updates may be the way to go. If you plan to sell your home in the future, making time for quick fixes may be the way to go. Instead of dumping money into areas of your home where you may never get the value back, be smart with your plans, and approach projects that can be done swiftly and efficiently.
Build a deck
If you’ve been itching to test your DIY skills, this project may be the perfect time to do so. Deck plans come in all shapes, sizes, and skill levels, so find something that matches your abilities. It will also guarantee you’ll run into as few problems as possible when assembling your outdoor oasis. Believe it or not, you can save a whopping $4,000 by building a 16×16 deck yourself. Just remember to factor in the cost of materials on top of the amount of labor you have to do when considering your investment return. Most deck materials range from $3-8 in average prices while building, so be sure to include this in your plans before picking up the hammer.
The real bang for your buck when it comes to building a deck is increasing your home’s living space. Make sure that the size and shape of your extra space fit with your home’s style. Having a deck that’s unsuitable, unattractive, or falling apart will cost a potential buyer more in the long run if they have to redo it. Instead of throwing money away from the get-go, reassess your deck’s health and tackle it on time so you can get the most you possibly can when you’re ready to sell.
Do some landscaping
One of the most profitable projects you can take on during the summer months is to get your lawn manicured to perfection. Dry or yellow spots in your landscape may present potential buyers with problems, so maintaining a lush, green yard can help boost your ROI. Landscaping is another way to use your skills to save some dough. Whether you’re ready to commit to a small flower bed or determined to overhaul your entire yard, putting in a little hard work can bring a lot back on your return on investment.
From lawn to ROI
The ROI of landscaping can yield between a 5-20% increase in your home’s value. If you’re less apt to get your hands dirty, the cost of professional lawn care is pretty affordable. The average lawn care service will set you back between $25-50, but this price may also range by region. For example, if you’re in an area with arid temperatures, your yard care can be more expensive due to heftier fees in irrigation. Be sure to review all options so you can make the most educated decision based on your budget.
Enclose a porch
While this update may be more advantageous than others, the ROI is sure to be a leading motivation factor. Expanding your home’s livable square footage is a surefire way to increase your home’s value, and tackling a porch is a great way to start. Speaking with a professional contractor is vital for this update. They’ll know the best route to take when enclosing the porch to ensure the home is still structurally sound. Also, they will understand what types of permits you’ll need to acquire and guarantee that the renovation is up to city regulations. Without the proper licenses, you could be looking at a money hole. Buyers can put all sorts of terms and conditions in their contract, one of which could be to demolish or remove unsafe additions. Protect your investment ahead of time by following the proper protocols and procedures required when enclosing a porch.
An up-to-date home value estimator can provide local insights into your area’s current market conditions. Take a deeper dive into similar homes that were recently sold around you and find out about how long they stayed on the market. This way, you could better plan projects and figure out how to increase your house’s value with minor renovations.
Julia E. Miller
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