Homeownership is an investment. You have probably heard that statement before. Renting an apartment or house may be cheaper every month, but there is no equity being built in the property, so there is no benefit to you in the future. Owning a home, however, lets you build equity with every mortgage payment, which can yield greater profits if you choose to sell your West Chester home.
Speaking of selling, trying to get as much value out of the listing price as possible is how sellers can take advantage of their equity. One of the main ways to increase the value of the property is to conduct improvement projects that would appeal to future buyers. Home improvement can elevate your own living experience in the meantime.
If you do want to make improvements, you’ll have to decide what projects are worth tackling. While small projects can keep you under a tight budget and marginally improve the property value, big changes have a larger impact on the future sale price. Here are X big projects that you can take on to skyrocket your property value in West Chester.
Roof Upgrade
Roofs are incredibly important for the structure of your home. It protects the interior from the elements, both hot and cold, wet and windy. A roof that is deteriorating, made from outdated materials, or ugly can hurt your potential profits when you want to sell the home.
For this reason, a roof replacement could be a good idea if your home’s current roof has issues. Not only will there be aesthetic benefits, but the efficiency and insulation of your home can be improved as well, attracting more buyers due to lower utility bills.
New Siding
Similarly, the house’s siding also impacts the level of comfort inside. Old siding could put the property at risk of water damage, drafts, and high heating or cooling costs. Some materials like stucco were popular decades ago but are far less efficient than other materials used today. There are multiple reasons to replace your home’s siding, such as increased efficiency, greater property value, better aesthetics, and improved waterproofing.
Entryway Makeover
The main entryway of your home can have the biggest impact on curb appeal, or how others perceive the property when they first see it. An aging porch overhang or poor color choices for the front door can turn off potential buyers that may decide never to set foot inside based on this first impression.
An entryway makeover could include a new door installation, a front garden, a landscaped pathway, ground lighting, new paint, and more. Anything that can make the front of the home more appealing is worth considering since curb appeal has a big impact on resale value and attracting buyers.
Brand New Deck
Outdoor living spaces are very appealing to buyers in West Chester. These people want to live in a home where they can relax comfortably outside for the sunshine and fresh air, and a well-built deck with warm surroundings can do the trick.
If you do not have a deck, get in touch with a custom deck builder that can help you create your dream design for this outdoor living space. Once constructed, adorn the area with comfortable furniture, privacy features, and natural decorative elements to turn the space into an outdoor oasis.
Bathroom Renovation
Bathrooms play an important role for homeowners and their families. This room can easily become one of the messiest and ugliest in the house, especially with the amount of hygiene-related activities that occur there. An outdated bathroom is a perfect opportunity for increasing your home’s value with a bathroom remodel.
You could follow current trends with a modern design that incorporates clean lines, neutral colors, and minimalistic fixtures, or you could embrace a bolder style. New fixtures, lighting, vanities, cabinetry, and decorations can completely transform your bathroom from just another room in the house into one of the highlights of the property.
Fresh Landscaping
The yard is a blank canvas ripe with opportunities for your creativity. You could take on one large project, like putting in a separate patio with a firepit, or you could invest in several smaller projects throughout the outdoor space to transform the entire exterior. Features like flower gardens, pathways, water decorations, natural streams, gravel/mulch areas, and a designated play area can enhance the backyard and bring the property value up.
Research Your Improvement Ideas First
Not all of these projects are a guarantee to increase the value of your home. There is a right way and a wrong way to do home improvement, and making your home less appealing with your changes can result in lower profits when you choose to sell. Before beginning any of these projects, research your planned changes to see if they will have a positive impact on the resale value.
Speak with experienced real estate agents or contractors who have a bit more knowledge on this topic about what changes have the greatest ROI for sellers. The more informed you are, the easier it will be to make money-making changes to your West Chester home.