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The Top 5 Home Improvements That Increase the Value of Your Home
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Meta description: The top five home investments based on return on investment are replacing garage doors,installing wood decking,kitchen remodeling,basement remodeling,and replacing the exterior siding.
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Many homeowners think that making improvements to their home is a waste of money – a decision that they will never make again. But some improvements can actually increase the value of your home if you plan to sell it.
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But that’s not really how it works in practice. If you spend money today,it will increase the value of your home when you sell it. Will sometimes be worth more than the price you paid. Whitney Homes has everything you need to make a big impact on the value of your home!
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Here are the five best home improvements that will cause you to have a higher selling price for your house.
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#1: Updated Garage Door
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Buyers understand that garage doors cause nothing but trouble. They continually fail because of the complicated gears and motors that they contain.
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There are some people who just get excited when they see a new door being installed in their garage. They get very excited because they think that they will get a huge discount for doing this. Many buyers are thrilled to be able to buy a new garage door as soon as they move in. They are excited to save money by not having to call a repair team out within a month. Installing a new garage door can cost you less than $2,000. In fact,you could get back nearly 100 percent of the money you paid. That means that the real price (if you do wind up selling your home) of a $1,500 door could be as little as $20.
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#2: Wood Deck
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Wooden or composite decking is becoming more popular as it is taking market share from traditional patios. Homeowners like being able to entertain guests on a raised platform in their back garden while they view their land. It’s a great idea,and guests really enjoy sitting on the decking in their back gardens,looking over the garden.
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But a deck is worth more than just looking good. This is why,like garage doors,a good investment can deliver impressive returns.
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What you get back depends on the kind of property you own and the size of your lot. But you could receive huge profits from selling your property in some areas. You may get as much as 83 percent.
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#3: Kitchen Remodel
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Kitchens are often an attractive feature for buyers when they look at new properties. They either love it or hate it! When buying a new property,buyers typically love the kitchen—or they hate it.
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Traditional estate agents wouldn’t recommend full kitchen remodels,because it was thought that selling the house would bring the most money to the seller. Some estate agents didn’t encourage homeowners to spend a lot of money on a full-blown kitchen remodel,but they suggested focusing their money elsewhere or getting a quick kitchen refresh.
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But new research suggests kitchen renovations may actually be beneficial. Remodeling magazine found that homeowners could expect to recoup 63 to 82 percent of their costs when they sell their homes.
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#4: Remodel The Basement
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Basements don’t get much love from most modern homes. There are many things that make them unattractive,but when you consider the return on your investment,investing in them is a good idea. Basements are usually unattractive because of a couple of things: They may be filled with dangerous radon gas or they may be used for general storage.
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If you look at return-on-investment statistics,investing in a basement is like investing in a luxury car. If you finish a basement renovation,it can be worth almost double the money that you invested. That’s not that bad.
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#5: Exterior Siding
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You might want to consider investing in new siding. New exterior siding can dramatically improve the look of your home,while encouraging buyers to spend more money to buy it.
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The average cost of adding siding to your home is around $12 per square foot. But,the average returns on investments in home improvement projects are around 75 percent.
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Find out how you can sell your house at a higher price and increase its value by visiting our website!
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