9 Home Improvements That Offer the Best Value for Real Estate Investors
As a property rental owner I’m sure you want a perfect looking rental that appeals to tenants, which is easy to rent, or perhaps you’re changing real estate properties and are considering to boost things to make a fast sale. Which facilities will give more value and which items give you the best value for your money? Let’s pay attention to some good additions that offer the best value, starting with the attractiveness of your real estate property.
Exterior upgrades
New Front door
This update isn’t too expensive and makes an enormous change in the way your house appeals to the neighborhood. Besides that, obviously, if you have a drafty door that produces a higher heating bill, a new door should require little thought. Placing a new door certainly gives you the most value for your money in regards to your home improvement. If you’re not sure about what door to choose, steel doors are sold more and more and can be very profitable.
New Siding
Renewing the outside siding has a great effect on the look and feel of your property. It can change the whole (maybe worn down) look to a refreshed appearance. The prices of new sidings depend highly on the measurements of your house, but you can count on a price around $9-11k, often adding an 80 percent return. Nowadays vinyl siding is the most wanted option by buyers.
Energy Efficient Windows
Obviously, everybody wants to spare money on the gas and electric bills. This is an obvious step to improve your house and get the most out of you repair budget. By informing your potential clients about the energy-saving improvements, they’ll give a higher value to your property because they’ll take advantage of lower energy bills and a warmer house.
Detached Garage
Not all houses offer an attached garage (or just a garage in general). You can give serious more value to your house by the placement of a garage. Just a simple carport adds already value to your property, without spending too much money.
New Garage Door
Especially when looking from the street, it’s surprising how much a new garage door can add to a house. A new garage door can increase the selling price of your home up to an additional $10k. When you work with a limitless budget or a set one, an average two-car garage door is sold for less than $2,500, so it is worth a consideration.
New Siding
Renewing the outside siding has a great effect on the look and feel of your property. It can change the whole (maybe worn down) look to a refreshed appearance. The prices of new sidings depend highly on the measurements of your house, but you can count on a price around $9-11k, often adding an 80 percent return. Nowadays vinyl siding is the most wanted option by buyers.
Energy Efficient Windows
Obviously, everybody wants to spare money on the gas and electric bills. This is an obvious step to improve your house and get the most out of you repair budget. By informing your potential clients about the energy-saving improvements, they’ll give a higher value to your property because they’ll take advantage of lower energy bills and a warmer house.
Detached Garage
Not all houses offer an attached garage (or just a garage in general). You can give serious more value to your house by the placement of a garage. Just a simple carport adds already value to your property, without spending too much money.
New Garage Door
Especially when looking from the street, it’s surprising how much a new garage door can add to a house. A new garage door can increase the selling price of your home up to an additional $10k. When you work with a limitless budget or a set one, an average two-car garage door is sold for less than $2,500, so it is worth a consideration.
Turning your attic into a bedroom.
To add living space to your house, you could consider turning your attic into a bedroom. You don’t have to build out your home, but it’ll give your house more value, think about thousands of dollars. Of course it can be used for anything, from a new master bedroom to a kid’s playroom. It can cost you up to $70k, but you should be able to get about 65 percent of your investment back!
Investors: What would you add to this list?
Don’t forget to leave a comment below.
