Purchasing a home is all about getting exactly what you want for the price you’re willing to pay. However, it’s often said that you don’t make money when you sell your house, but that you make money when you buy your house. This means that if you purchase a house that has opportunity for upgrades and facelifts, you can almost guarantee that you’ll sell that home for more than you paid for it. To make sure you find yourself in this boat when you’re selling your house, here are three additions that will up the resale value of your home and get you more money in the process.
Build a Deck, Porch or Patio
People looking to purchase a home in today’s market are all about additional amenities, especially when it comes to outdoor living spaces. If you live in an area surrounded by beauty and weather that’s enjoyable for at least a few months a year, adding a deck, patio or porch to your home can greatly increase its value.
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Homeowners who choose to build a deck can usually get back between 65 and 90 percent of their initial cost, according to MoneyCrashers.com and HGTV. And while hiring out someone to do the work for you could save time and hassle, adding on a deck is a completely doable task for many people. Choosing to tackle the project on your own will save you even more money in the long run, too.
Reliable HVAC System
Samuel Weigley, contributor to USA Today, listed adding central air conditioning as the number one feature home buyer will pay more for. Because staying cool was stated to be very important by 60 percent of people, Weigley found that you can increase your asking price by a minimum of $2,500 when selling a home with a reliable HVAC system. And because installing this type of system would generally cost less than $2,500, choosing to add air conditioning to your home before selling it could give you a sizable return on your investment.
Even Small Things Can Make A Big Difference
While the two above mentioned additions can be pretty big projects, you don’t have to put a lot into an addition in order to get a lot out of it. In fact, many of the most noticeable improvements you can make to a home before selling it are also the least expensive. For example, replacing your front door with a more visually appealing or secure looking door will give you a 96.6 percent return on your investment, according to Teresa Mears of U.S. News and World Report. This relatively small change proves that you don’t have to do a huge remodel in order to get a good return on your home improvement investment.
If you’re considering selling your home in the near future and would like to get a little more money for it than you might currently, consider trying your hand at one of the above mentioned home improvement additions to bump up your asking price before your home hits the market.