Pending home sales dipped by 2% in September. It could mean that the long-awaited real estate slowdown is here. Prices that soared over the last 18 months are going to come back down in many areas across the country.
It may be too late for homeowners who wanted to maximize the sales price of their homes. Interest rates will increase in the next year, causing real estate to slow down.
That doesn’t mean the market will stop. You have to find other ways to increase the home’s value. Take the time to do home renovations that add value to the sales price.
The question becomes which home renovation project you should take on. Fortunately, you’re in the right place. Read on to learn which home projects add the most value.
1. Add a Sauna
Saunas in the home add a sense of luxury. They also increase the value of the home because it makes your home more appealing to buyers that seek status.
You can enjoy the benefits of an infrared sauna before you put your home on the market. It needs little maintenance and there are health benefits, too.
2. Uncover Hardwood Floors
There might be a hidden treasure hidden underneath your carpets. Hardwood floors are in demand and that isn’t likely to change anytime soon.
Remove the carpets in your home. Buff and polish the hardwood floors. They open up a room and add brightness. They also add to the home’s value.
3. Kitchen Remodel
The kitchen can make or break a home. An open kitchen with an island and other features is on every buyer’s wish list.
You can make their dreams come true with a minor kitchen project. You’ll get plenty of enjoyment out of it when you’re entertaining and cooking at home.
4. Install a Deck
The outdoor space is almost as important as the kitchen. People want to relax outside during the warm summer months. Buyers can envision that when you install a deck.
If you want to up the value of the renovation even more, go with a composite deck. It costs more, but buyers love it because it requires less maintenance.
5. Garage Doors
Believe it or not, a new garage door can add value to the home. You’re likely to recover most of the investment in the sales price of the home.
It increases the curb appeal of the home and its functionality.
Top Home Renovations That Add Value
There are home renovations that you do for yourself, and there are projects that add value to your home. The home renovations that add value include installing garage doors, uncovering hardwood floors, and doing a minor remodel of the kitchen.
These are additions that buyers love and will add more to the sales price of your home. You’ll command top dollar for your home even as the real estate market slows down.
Do you want more helpful tips for your home? Visit the home page of this site for more home improvement ideas.