What Home Improvements Increase Resale Value

With spring finally beginning to take hold in West Michigan, both homeowners and home improvement contractors in Grand Rapids are preparing for this year’s projects. If you’re like most homeowners, you probably have a list of projects for the home, from basic maintenance projects to life-enhancing optional improvements. Whether you’re thinking of selling your home in the near future or perhaps somewhere down the line, one way to look at home improvements is to consider which projects can really improve your home’s resale value.

The type of projects that improve resale value will vary by region, by the type and value of the home, and by neighborhood. However, certain home improvement projects will generally yield a greater improvement in resale values, according to Remodeling Magazine’s annual cost vs. value report:

  • Decks. A deck addition can add more value than you might think, and can increase your own enjoyment of your home until you do sell.
  • Windows. Replacement windows reportedly average around a 75% return in our region. Buyers expect things like windows to be in good condition, so even if replacing them doesn’t dramatically increase resale value, failing to replace them could significantly decrease it.
  • Attic bedroom. If your home has unfinished attic space, it can be a perfect opportunity to add a bedroom and increase the square footage of your home without substantial investment. In addition, be sure to add insulation in the attic to lower utility bills.
  • Entry door or siding replacement, and add to the home’s curb appeal. A steel door is a relatively simple improvement that increases energy efficiency, and curb appeal as well.

Although all of these projects can increase resale value, replacement projects like siding, entry doors, windows, or even an upgraded furnace tend to give more added value than remodeling projects, and tend to be less expensive than remodeling. Buyers also expect that major systems function well. Before making cosmetic and even functional improvements like adding additional square footage to the home, it’s a good idea to make all needed upgrades, repairs, or replacements to the home’s major systems.

In addition to resale value, homeowners who plan to put their home on the market also look at important factors when choosing home improvement projects.

  1. Attracting potential buyers in the first place. When it comes to window replacement Grand Rapids buyers seem to understand the efficiency and attractiveness of new windows.
  2. Making a home compare more favorably with similar homes a buyer may be considering. Upgraded insulation and other energy efficiency improvements make a home compare favorably with a similar home in the same neighborhood.
  3. Keeping the sale on track. For instance, if there are maintenance items that you have to disclose, or items like a malfunctioning furnace that may become deal-breakers after the buyer orders a home inspection, it’s wise to complete these projects before putting the home on the market.

Talk to home improvement contractors in Grand Rapids to learn more about the most worthwhile home improvement projects. And if any of these projects is on the horizon for you, schedule a consultation with GreenFIT Homes to find out more about making your home improvement visions a reality.

Photo: The Sharpteam

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