Renovating your home with the intention of adding value to it isn’t only an expensive process, but it’s also time-consuming. Sadly, not every project you invest your hard-earned money in succeeds. In today’s constantly shifting, competitive market, knowing how to make your home stand out to potential buyers is becoming increasingly important. However, the process doesn’t have to be difficult. Avoid investing in home additions that won’t increase the value of your property and instead concentrate on making changes that will help sell your home faster and at the best price. Here are some of the best home additions to add value to a property before you sell it.
1. Rid Your Home of Pests
Whether you’re trying to sell or rent, any signs of pests can significantly reduce the value of your home. The sight of pests triggers a visceral reaction of disgust or fear in potential homebuyers, which can be quite difficult to overcome. This is one of the many reasons why you should make sure your property is ‘bug-free’ before listing it for sale. Besides, pests can cause significant damage to your home. For example, termites can compromise your home’s structural integrity, ultimately lowering its value. Mice can gnaw at your home’s wiring and walls, necessitating costly repairs if they’re not dealt with. There are two ways this will affect you: Either you sell the house as-is and incur a huge loss by passing the cost of the repairs onto the potential buyer, or you may have to undertake repairs, which will drain your finances.
Regular pest control efforts in your home are similar to routine automobile maintenance. While the property can still function without it, it won’t function optimally. When marketing your home, highlight your pest control efforts to entice buyers, but don’t cheat. Inform potential buyers of the repairs you’ve made and how frequently you’ve had to spray the home to give them confidence while making the purchase. Regular pest control efforts, such as calling in bed bug exterminators, can raise the value of your home should you decide to sell it. It also improves your quality of life and makes the home safer for the next family to occupy it. For this reason, ridding your home of pests is one of the best home additions that add value to it.
2. Restore Your Foundation
Whether you’re planning to sell your house or just want to maintain its value, a solid foundation significantly affects the aesthetics and structural value of your home. The foundation of your home supports the entire structure. When the foundation of your home is unhealthy, other components like cabinets, furniture, or windows will ultimately experience the effects of the damage. This may necessitate calling in additional services such as multifamily window suppliers or a plywood manufacturer. It’s never too early to resolve foundation issues if you’re planning to sell your home. Not only will this raise its value, but it also ensures that it’s as secure and safe as possible.
An expert foundation inspection provides you with a baseline understanding of the condition of your foundation and helps you gauge whether or not it’s at risk of developing further damage. If there are no visible signs of foundational deterioration around your property, there’s the temptation to be reluctant to request an inspection. However, obvious signs of damage to your foundation may start appearing in a few months or during a severe storm. When conducting an inspection, you have an opportunity to identify possible issues before they arise, which means you’ll have fewer repairs and potential out-of-pocket costs when selling your house. If the inspection reveals a need for foundation repair, professionals advise getting repairs done as soon as possible to help lower the likelihood of more expensive repairs later on.
Repairing your home’s foundation today will save you time and money and eliminate last-minute frustrations when selling, especially in the likely event that you’ll be flooded with offers. Should you decide to sell your house despite the foundational issues, you have two options: either get it fixed before the buyer moves in or ask them to cover the cost of fixing it. Note that you’re legally compelled to inform prospective purchasers of any foundational damage. Restoring your foundation is one of the best home additions to add value to a property.
3. Let the Next Owners Have a Clean Start
Homeowners are often confused about what to do with the septic tank when selling their house. Who is in charge of pumping and maintaining the system? The buyer or the seller? Even if state regulations differ, it’s always a good idea for the seller to assume responsibility. While it may seem like just more work that you don’t want, septic pumping before a sale is a wise move. Maintaining a positive relationship with your buyer during the sale of your home is one of the best home additions to add value to a property. Potential buyers may be reluctant to close if you skip key inspections or processes. They’ll think you’re being sly. There should be a provision in the purchase agreement that specifies who’s responsible for pumping the septic system. As the seller, strive to be upfront about this task and volunteer to take care of it on your end.
Sewer cleaning completed by a professional sewer cleaning service can also ensure you get the highest asking price possible for your home. Foul odors coming from the drains are an instant turn-off for potential buyers. Depending on the intensity of the smell, it may permeate neighboring rooms and seep into carpets, textiles, and furniture. By having your sewage line purged of any odor-causing debris, you can maintain the quality of the air within your home.
4. Upgrade Your Roof
Upgrading your home is one of the best additions to add home value. If you have your roof inspected and everything seems fine, you probably won’t consider installing a new roof. However, a damaged roof isn’t the only reason for upgrading your roof. An equally significant reason is to enhance your home’s visual appeal from the outside. Even if your home has lovely bones and a sturdy foundation, nobody will notice if the roof is looking aged and uninspiring. This can be a huge deterrence when it’s time to sell. Since modern roofing materials span a wide range of textures and hues, you’re in a position to better match your siding and landscape.
You’ll also have the opportunity to upgrade your roofing technology with a new roof. Since energy efficiency is a priority, roofing material manufacturers are beginning to adapt to this reality. Today, there are several asphalt shingles on the market that reflect solar heat, improving your home’s overall energy efficiency. Upgrading your roof also extends your warranty. Most older roofing warranties were only good for 15 to 25 years. Thanks to advancements in asphalt technology and materials, warranties now last much longer. For this reason, upgrading your roof gives potential buyers a lasting sense of peace of mind before issues arise.
Lastly, installing a new roof increases the worth of your home by thousands of dollars. It enhances both the utilitarian and aesthetic value of your home and helps the home sell faster. Before putting your home on the market, consult professional local roofers to understand whether or not getting a new roof is a good idea. You should also consider getting estimates so you can weigh your options and arrive at informed decisions.
5. Make the Bath a Sanctuary
A bathroom remodel is one of the best home additions to add value to your property. After the kitchen, the bathroom is probably the most used room in your home. Consider a bathroom remodel before placing your home on the market. According to Remodeling’s ‘Cost vs. Value’ 2022 study, a bathroom remodel attracts an ROI of between 53% and 58%. Some of the aspects of a bathroom remodel that can raise a home’s value include replacing outdated components, upgrading fixtures, and adding more functional features. Since bathrooms are smaller, they’re often cheaper to remodel compared to kitchens. Depending on the age of your home and the extent of plumbing or electrical work required, the typical cost of a bathroom remodel tends to vary greatly.
Although switching out fixtures and installing a backsplash is significantly less expensive than replacing everything, a basic makeover involving bathroom flooring remodeling will cost you between $3,000 and $10,000. According to research by Remodeling Magazine, the average cost is close to $24,000, but you can recoup around 60% of that cost when you sell your home. According to the same survey, an upmarket makeover will cost around $100,000, but you’ll recover about 53% of the cost when you sell your home. Although you won’t make back every dollar you spend on your bathroom remodel for resale, a modern bathroom will attract buyers, raise the value of your house, and allow you to enjoy the space while you still live there.
Try to keep things simple and affordable instead of going overboard with high-end finishes to avoid regrets. Consult a real estate agent before making significant modifications if you’re looking to sell in a few months, or perhaps a year. In most cases, it’s preferable to make quick fixes that would be flagged during an inspection before putting up the for-sale sign than to delay your listing by making last-minute modifications.
6. Expand the Property
Whether you’re trying to sell your land or just want to improve its curb appeal, the condition of your property counts. Potential buyers will find it hard to picture themselves making use of the space if you let weeds and plants grow wild all over it. Luckily, land clearing can help. Contrary to what the term implies, clearing land doesn’t translate to removing all vegetation, including bushes, shrubs, and trees from your property. In fact, most land clearing tasks are more about organizing the space than anything else. It focuses on cleaning the property to keep things healthy.
When dead branches, weeds, tree stumps, and brush are cleared from your property, the surviving plant life will more easily access nutrients. If you have too many plants on your property, they’ll start competing for resources such as sunlight and water, causing a property’s general health to suffer. In this case, land clearing promotes the health of the plants on your property by improving soil quality. It can also help you avoid hazards and attract more buyers. When selling a home, it’s important to take down overly personalized decor. The goal is to make it simple for prospective buyers to imagine their own furnishings and décor in your home. By applying the same concept, land clearing raises the value of your home, and besides being far more appealing to potential purchasers, a clean, orderly, and healthy plot of land makes it much simpler for them to envision how they can use the area. Land clearing is one of the best home additions to add value to your property.
7. Help the New Owners Feel Safe
Home security systems are among the best home additions to add value to your property. According to a Coldwell Banker poll, in the United States, 28% of individuals own smart home technologies, including home security systems. With 47% of millennials claiming to have smart home equipment in their homes, they’re the biggest adopters of these products. They make up the largest number of homebuyers. A security camera installation, while seemingly trivial, attracts a considerable perceived value when it comes to real estate listings due to the functionality it offers. Installation of alarms and security systems protects your home and its occupants. Buyers often view that as a feature that justifies a higher asking price. They take into account the added layer of security and safety offered by home security systems, making smart home security systems some of the best home additions to add value to a property.
When figuring out what improvements to make to your property, think about whether doing so will make it more appealing to a buyer. If certain rooms are dated, revamp them. With the increase in the number of work-from-home employees, you should also consider adding modern features and amenities that remote professionals need to maintain a good work and life balance.