First, we’ll discuss 5 home upgrades that have been known to provide a good return on investment (ROI) for homeowners. Second, there is one very important maintenance item that can affect the home’s sale price for better or worse.
5 Home Upgrades That Provide a Good Return on Investment are:
- Kitchen upgrades: Upgrading the kitchen can provide a significant ROI. This includes updating appliances, countertops, flooring, and cabinets. A modern kitchen can add value to a home and make it more attractive to potential buyers.
- Bathroom upgrades: Similar to the kitchen, updating a bathroom can provide a good ROI. This includes upgrading fixtures, lighting, flooring, and vanities. Adding a new bathroom can also provide a good ROI if there is a need for an additional one in the home.
- Energy-efficient upgrades: Upgrading to energy-efficient windows, doors, and appliances can provide a good ROI over time. This can help lower energy bills and make the home more appealing to buyers who are looking for a home with lower operating costs.
- Curb appeal upgrades: Improving the curb appeal of a home can make it more attractive to potential buyers. This includes landscaping, painting the exterior, and upgrading the front door.
- Adding square footage: Adding square footage to a home, such as a new bedroom or living area, can provide a good ROI. This can increase the value of the home and provide additional space for homeowners.
Maintenance or Neglect of Your Roof Can Affect Your Home Sale Price
After spending time and money making the above upgrades, there is one item that can waylay the entire home sale; your roof. An old or damaged roof can significantly affect the sale price of a home. The extent of the impact depends on the severity of the damage and the local real estate market conditions.
In general, a damaged or old roof can lower the value of a home because it can raise concerns about potential water damage, leaks, and other issues that can lead to costly repairs. Buyers may be hesitant to purchase a home with a damaged roof because they may need to replace it soon, which can be a significant expense. On the other hand, a new or well-maintained roof can be a selling point for a home and may increase its value. A new roof can provide peace of mind to buyers and signal that the home has been well-cared for.
In some cases, the impact of an old or damaged roof on a home’s sale price can be mitigated by making repairs or offering a credit to buyers to cover the cost of a new roof. However, consult a local real estate agent or appraiser 1st. They will help to determine the best course of action for upgrades or roofing changes. The ROI of these upgrades can vary depending on the local real estate market and the specific needs of potential buyers.
For a Free Roofing Estimate in Middle TN, give us a call 615.784.4628