Many homeowners find themselves in a personal debate between wanting to update spaces throughout the home and having the possibility of moving in the foreseeable future. With the prospect of moving on the horizon, investing in a home renovation feel unnecessary and costly. However, specific home updates make sense, so you can enjoy them now and recoup the value down the road. If you’re facing this decision, read on for the home projects you can take on now, which will add value when it’s time to sell your home.
Painting
Painting is a low-risk update that is well worth the cost, as you can enjoy this dramatic visual update almost instantly. When it’s time to sell, you can leave the walls as is or repaint in a more neutral hue when it’s time to put your home on the market.
Kitchen updates
Many buyers want a house with an updated kitchen, and this feature tops many buyers’ must-have lists. As a homeowner, updating a kitchen only to sell your home in a few years can be a burdensome expense. However, according to the 2023 Cost vs. Value Report, a minor kitchen renovation can recoup 85.7% of the cost. Suppose you’re updating your kitchen with resale in mind. In that case, it’s best to veer towards timeless finishes and avoid ultra-high-end selections, such as marble countertops or a high-end oven range, as these selections may not align with a buyer’s needs.
Bathroom remodel
Updated bathrooms are similar to kitchens — at the top of many buyers’ must-have lists. Since bathroom renovations can be a significant undertaking, most homebuyers will want to enjoy the fruit of their labor. The 2023 Cost vs. Value Report states that a bath remodel can recoup 70.6% of the total cost, making this a project that you can enjoy now and see a benefit when it’s time to sell.
Siding
Exterior home projects aren’t as glamorous as interior projects. However, they can significantly impact your home’s curb appeal and value. Replacing the siding is a project that many homeowners may reluctantly take on. However, new siding in a fresh color can make you feel like you’re pulling up to a new house every time you come home. Additionally, this crisp, clean siding can be a significant selling point for buyers when it’s time to sell. The 2023 Cost vs. Value Report indicates that homeowners can recoup 76.7% of the total cost.
Replacing the windows
Replacing the windows is another home project that could be more glamorous. However, new windows can give your home the facelift you didn’t know it needed. New vinyl windows can recoup 74.3% of the vinyl windows cost when you sell. In the short term, you may see your energy bills go down.
Source: 2023 Cost vs. Value Report, https://www.remodeling.hw.net/cost-vs-value/2023/
