Choosing what home improvement projects to start can seem like such a chore. Of course, the neighbors new home theater looks pretty nice but does that really add any additional value to their home? Homeowners are frequently searching for the next project to add that extra spice to their space but too often forget the return on investment can vary greatly depending on the prospective buyers needs and wants. So how can you decide which ones to do and which ones to forget about? In this article, we’ll illustrate what projects will regenerate most of their costs for the Dallas market.
While some updates aren’t nearly as exciting as an outdoor bowling alley or a slide from the second story to the first but the basics matter a lot. If your home has problems with the roofing, siding, foundation, HVAC system or plumbing, it will be very apparent and will have an effect on the market value of your home. Make sure all the basic necessities are in order before you move onto the bigger projects. Interestingly enough, replacing your entry door with a steel model is one of the highest return on investment projects a homeowner can do for the Dallas market with approximately 122% of the initial investment regenerated.
There are many projects you could take on to change the look and feel of your home that have excellent returns. For example, adding a wood deck to your backyard to take advantage of the great weather or replacing your siding to increase the curb appeal are two great options with very good returns. Even a minor kitchen remodel is among the highest returns on investment for Dallas. The important thing is to prioritize and execute here, picking the areas of your home that need the remodel most and knocking those off your list before you tackle projects that are fine for now. If you decide to do the kitchen remodel, there is a great budget calculator that can help you figure out a suggested range for your remodel.
Kitchens, bathrooms, bedrooms, basements, and living rooms are the areas of the home that people spend the most time in. Therefore, investing money into these parts of the home after you have the basics covered is the best option. Research suggests that minor upgrades often recoup costs quicker than major ones, but if that area of your home is an eyesore, it won’t do you much good when it comes time to sell. Basement and bathroom remodels and family room additions are among the top returns on big home improvement projects for Dallas.
Ultimately, after all your hard work, the return on investment will come only once you’ve sold. Let our experts help! Our experience in this industry allows us to help you with whatever questions you have about the selling process and what the market expects to see. For all your real estate needs, contact Hartman Terilli Realty.