Are you looking for the best home improvement and activities you can do for your home to get as much money out of it as you can? Well I’m going to give you 6 things to do to your home to get most your money back. I’m also going to give you 5 things you shouldn’t do and its going to be right now!
Hi everybody my name is Ty Eden, a Realtor with Exit Realty Redefined in Wheaton IL western suburbs of Chicago. I work with Buyers, Sellers and Investors in the northern Illinois greater Chicago land area.
6 Things to Improve/Update your House to get the most money out of your sale:
A garage door can get you 97% of your money back meaning 97% of the money you put in to buy the garage door your going to get back. Now I put a garage door on my 2car garage and it only cost about $1200-$1500 plus a new motor which is awesome because it connects to my phone and I can open and close the garage almost anywhere as long as I’ve got internet connection. A whole system can range to $3000-$4000 depending on where you are in the country. Mine cost me $1800 including the door and I stand to get 97% of that money back. That is a great improvement, curb side appeal that you should look into.
Outside stone or brick look to your home. If you got siding in front of your house possibly a vinyl siding, take that stuff down and put up the brick veneer siding. Your stand to get about 95% of your money back on that. Again, cost can vary depending on where you are and how much extensive of a work you may need to do as far as stills corners address blocks, any kind of upgrade or added cost items that the contractor may charge you but you can definitely get most of your money back on that investment.
Minor Kitchen Update
For a minor update you can get 81% of your money back. Throw some paint on the walls to fresh it up, most kitchens these days are wood floors here in the Midwest and you can easily have those sanded if you prefer you can put a stain down since its not that much more money. as long as the cabinets are in good shape, you can resurface or reface them and put new doors, new hardware, an updated sink, counter tops, plumbing hardware and high efficiency appliances. For all of this you can get about 80%82% of your money back on doing such update. Cost can range depending on the contractor and the quality of appliances that you choose. Depending on how much disposable money you’ve got maybe do 3 to 4 years before you actually look to put your house up for sale.
New or Updated Deck
What your looking for a deck should be wood, a cedar deck. They do have these composite materials that can last forever and can drive the cost up dramatically but a deck can get you back about 76% of your investment. Now, that again can be the one that I might do if it were me about 35 years before I decide to sell the house. If it’s just a year out, your going to lose about 25% of your money by doing so but it may improve depending on what the competition is in the neighborhood of who my house is competing against.
Replace the siding, put some nice cedar siding on the house. Now for siding which you stand to get back in your investment is about 76% of your money. So again, this is something you may think about doing 35 years before so that way you get the chance to enjoy that addition and its not just a total loss or you lose that 25% for selling it on the next year.
This can be just the slab itself and one type of door material I see the most is fiber glass or plastic door. They ought to last forever and will not fade terribly. There are steel doors that are out there, you can also put on to as a replacement those look really nice. There’s just something about steel for me with the Midwest and all the moisture that I kind of shy away from. I’m sure that there are parts of the country that steel doors are going to be awesome for but if it were me, I’d probably go with fiber glass door. The return of investment for this is 75%. You can go with a whole door system with side lights and transom and that will be glass on all three sides. There’s probably going to be some wood whatever the material is all away around or just the door slab itself.
5 worst things you shouldn’t put out and can’t get your money back on:
45%50% of the investment is what you get back. A sunroom can actually be an add-on to the house. Now you’re talking pouring a foundation, the roof I mean just the cost itself is crazy. So early on if you really want to enjoy having a sunroom, do it but do it shortly after you move in depending on how long you plan on living in the house.
Kids love to go swimming; you love to host parties and if you just moved in to your house and you really yearn to have that swimming pool and not have to go to the public pool then definitely put on a swimming pool in. When you do turn around to sell the house then you’re going to shrink the crowd that will be interested because they are people who are looking to buy a house with a swimming pool. Your going to get back less than 25% of the investment. Please enjoy the pool because this is going to be all about you type of investment.
That is taking a space in the attic and putting a bathroom up there. You can do it in a lower level possibly the basement area. It may or may not add some value to the overall house. If your going to move and your going to put the house for sale in the next year to 2 years, a bathroom addon wouldn’t be the best investment. But if you plan on enjoying that bathroom for a period of time then put it in because you’ll be able to utilize it. The return of investment on this is about 50%-60%.
Converting a Garage into a living space.
If you’ve got a big family and would need that garage space for somebody to live in and unfortunately most people treasure having a 2car garage or a single car because their looking at the house for the garage to put the car in. Converting your garage or a part of it into a living space isn’t going to be the best idea on the world and wouldn’t consider going down that road. Statistics shows that you might be able to get 60% of your money back for that kind of investment.
In todays technology with big screens hanging on the walls and everything getting piped in thru the internet. You can do Bluetooth speakers and everything else but what you don’t want to do is permanently install some sort of a theatre seats, builtin speakers to the walls and in to the ceilings, setup some sort of a separate cabinet with all your stereo equipment in there and making it a rocking theatre with maybe an in the wall screen of some kind. With setups like this you’re maybe going to see about 25%-35% return of investment.
I hope you have enjoyed this video and been able to pull some information out that can help you make some decisions for type of improvements you want to make for your home. Click the subscribe button and follow what different videos we can come out with. I know last week we did something about restaurants, the best burgers so who knows what next weeks is going to bring you. Thank you for watching and that’s it!