When people think about adding value to their property, they usually think about things like adding a second bathroom or remodeling the kitchen. These can be good options, but they’re costly. They can also be very risky. Make the wrong stylistic decision, and you might end up making your home even less attractive to buyers. On the other hand, there are subtle tricks you can use that are almost guaranteed to provide a high ROI, and some of these will only cost you a fraction of the price. Let’s look at a few sneaky ways that you can add value to your property.
People don’t usually think of siding as a renovation that adds value, but you’d be surprised. It has been estimated that adding vinyl siding could add 63% of the cost of the renovation to the value of the home. Vinyl is an attractive option for siding for many reasons. For one, it’s extremely low maintenance and durable. It can handle pretty much anything you throw at it; may it be rain, hail, snow, or heavy winds. It’s also one of the most attractive options out there and comes in all sorts of styles and colors. This is a 100% winner if you’re trying to project the image of a well-maintained home.
Change the Front Door’s Color
Yes, doing something as simple as changing the color of your front door could make a significant difference in your home’s curb appeal and value. One study by Zillow found that homes with doors that were charcoal grey, rich jet black, and smoky black were able to sell for $6271 more than was expected.
Colors in other rooms can also have a significant impact on your house’s value. Neutral colors tend to be more appreciated by buyers. Homes with light taupe or tan shades with pink undertones were able to sell for more according to the same study, while homes with unusual colors like raspberry red for the kitchen or yellow exterior sold for less.
Add a Deck
Adding a deck is one of the surest ways to add value to a home. If you don’t have a deck, chances are buyers would appreciate one. Not having a deck could be an issue for some buyers, but it will never be a deterrent.
The beauty of all of this is that you could build it on your own if you want. It’s also one of the most affordable renovations that you can make. You can expect to pay around $5000 for a 30m² deck and it estimated that a deck will return over 100% of its value upon sale. This is one of the renovations with the lowest risk and highest possible reward that you can make.
As you can see, there are tons of different ways that you can add value to your home besides the usual. So, make sure that you explore all your options and don’t be afraid to go for something different.