Homeowners in Kansas City enjoy many advantages over their renting counterparts. Mortgage payments are an investment as the principal is paid down, and the longer you live in the home, the more money you can make when it is sold. A home is also a private residence where you can make customization that fit your needs or raise the value of the home.
Figuring out how to raise the value of your home and obtain the greatest return on investment is tricky. Not every project has a significant impact on the home’s value, which means it may be a large investment that does not pay off well in the end. Other changes may be small but can make the home far more appealing to future buyers.
Choosing which home improvements to tackle requires a bit of research. Here are some projects that have great ROI and can make the home more appealing for both you and future owners.
A New Deck
Outdoor living spaces are growing in popularity. People want places to relax outside in the fresh air and sunlight while still being comfortable and close to the house. A new deck is a solution to this desire. These structures can be very versatile, serving as a location for a private morning coffee during sunrise or a social gathering in the evening. They can be ground level, several feet off the ground, or even attached to the second story of a house. You can choose between composite or wood decking, among other materials, so there is plenty of variety. Comfy outdoor furniture, pergolas, and border elements like gardens can complete the structure to make a comfortable space. Adding a brand-new deck can raise your property’s value and appeal significantly.
A kitchen is one of the most profitable improvement projects that you can tackle as a homeowner. People care deeply about the type of kitchen they are getting with their home purchase, and the right upgrades can provide a huge boost to the amount and level of offers that you will receive. You can invest in a total remodel or simply switch out the cabinetry, counter tops, or outdated appliances. Any of these changes on their own can make a big difference, but a full remodel can result in significant ROI when you decide to sell the property.
Windows are a common culprit of poor temperature control or drafts in a home. These gaps in the side of the house can compromise the environment within, especially if they are quite old. Newer models of windows are far more energy-efficient than their predecessors, resulting in lower utility costs. These savings alone can justify new windows, but you will also benefit when determining a listing price. Choosing the right Kansas City window company will also impact your ROI, as a quality upgrade can increase potential profits. If you attempt to install the windows yourself and do it wrong, you may pay the price later on.
Next to the kitchen, a bathroom renovation is another highly profitable improvement, often resulting in the greatest ROI out of all improvement projects. Bathrooms are crucial rooms for interested buyers. Both the number and the layout of bathrooms can directly impact the offers you receive on the home. New cabinetry, double vanities, modern showers, efficient toilets, and visually appealing fixtures can turn a boring bathroom into an oasis. Consider the benefits of renovating the bathroom not only for future buyers but for you and your family as well. The ROI at the time of sale will be just a bonus at that point.
You can get a lot of bank for your buck with proper landscaping upgrades. The yard around your home is going to be one of the first things that potential buyers see when they look at your property. As such, it plays an important role in curb appeal. The best part about landscaping is that you do not have to go overboard to see significant improvements. Simple changes like cleaning up the edges, creating clean lines throughout the space, and keeping up with mowing and weeding can transform the exterior for the better. With a beautiful and clean yard, buyers are more likely to check out the inside as well and make a great offer.
Analyze Potential Returns Before Tackling Projects
If you are making improvements to your home solely for the purpose of greater resale value, then you have to do your homework. Certain projects like kitchen and bath remodels are most likely to yield higher ROIs, but only if done right. Other smaller projects, like cleaning up the landscape, can also make a big impact. The key is to research the type of project you want to do and see what changes appeal to most home buyers. If you upgrade your home for yourself and you have very specific tastes, this could decrease the pool of people who may be interested in the property. Analyze the potential returns of your project before proceeding.