Today, people repair or renovate their existing homes rather than purchase new ones. They want to invest in their property because they cannot afford to move. A recent survey found that over 50% of homeowners choose to renovate their homes rather than move. However, they want to know which home repairs add value.
Roof Repairs
Consider doing repairs on your roof. The average cost of replacing a roof is over $30,000, but a new roof only adds to the average resale value by $17,000. By repairing a roof, a homeowner can save money and ensure their investment in the property is protected. They will have peace of mind knowing they’re keeping their loved ones and assets safe without paying for a new roof sooner than they must.
New Entry Door
Another upgrade a homeowner might wish to make is a new front door. This is one of the first things a potential home buyer notices when they visit a property. However, this is only one benefit of upgrading the front door. The right door can help a homeowner save money, which many people do not realize. When completing this upgrade, choose a steel door because it enhances the property’s curb appeal while increasing energy efficiency. Steel doors fit tightly in door frames to minimize drafts. Many people are surprised to learn they can purchase a steel door in various styles and finishes.
Stone Veneer
Many people upgrade their homes’ siding to increase their property’s value. When doing so, they should consider incorporating manufactured stone veneer into the exterior. There is no need to enclose the entire exterior in stone. A homeowner can see an excellent return on investment even if they only add this feature to portions of the exterior. For example, installing stone veneer on the entryway can yield an outstanding return on investment.
Add or Upgrade a Deck
Countless people today desire an outdoor living space to work, entertain, or relax. The global pandemic caused people to stay home more often, and they quickly found they enjoyed having an outdoor space where they could spend time alone or with loved ones. Wood and composite are two popular decking materials, and homeowners should explore all available options to find the one that best meets their needs. The cost of the deck and return on investment are determined by the deck size, the material selected, and more.
HVAC Upgrade
Every homeowner should consider upgrading the HVAC system in their home, even if they have no plans to sell. Technological advances have made HVAC systems significantly more efficient than they were a few years ago. To save money, a person might want to move from a fossil-fuel-burning furnace to an electric heat pump. Other options also exist, and homeowners should consider all of them to find the one that best meets their residential needs. When doing so, they should consider renewable and eco-friendly sources.
These are only a few of the many repairs or renovations a person might consider for their home. Numerous others exist, including replacing the windows, installing hardwood floors, and painting the interior and exterior. No two homes are identical, so repairs that benefit one home may not help another. Inspect the house today and determine where changes could be made to add value to the property. Many people will find countless ways to enhance their assets and prepare them to be sold in the future.
