If you want to sell your home within the next five years, consider resale value before you start any home renovations. Projects with a strong return on investment can pay for themselves or even generate profit. Though not all upgrades significantly add to the value of your home, some are better than others.
Take Care With Major Improvements
Expensive projects like major remodels and additions can come with a hefty price tag, and it may be difficult to recover the costs fully. Building a second floor or new bathroom might add value to your home, but it’s only worth it if you’re able to maintain your budget. Personalized upgrades can also make it harder for potential buyers to see themselves living in your house, so be wary of renovations like built-in shelving or a private home office if you’re planning on selling soon.
Keep It Simple With Basic Maintenance
If your house needs upgrades to basic systems like roofing, heating or plumbing, consider taking care of those problems before moving on to other improvements. There’s solid ROI for home renovations that improve your home’s structural integrity while adding curb appeal. Exterior upgrades like new siding and windows can make your house look more attractive to potential buyers and help protect your home from the elements.
By focusing on home improvement projects with broader appeal and better ROI, you can recoup a greater proportion of the costs when it’s finally time to sell.