In Jacksonville, the end of January means that spring is just around the corner, and if there is one thing that says spring in a homeowner’s mind it is the thought of renovations and other home projects. Taking on different projects and sprucing up the appearance of your home can really boost your home’s value. This is great if you are looking at property in Jacksonville and are thinking of putting your home on the market, but before you start pulling down the siding or re-landscaping your yard it is a good idea to take a step back and evaluate how much the project you have in mind will really boost your home’s value.
Of course, if you’ve just purchased your home, or have recently acquired a Jacksonville foreclosure, then you may not be thinking too much about property value at the moment. Fixing up your house because you want to is great, but still pay attention to what projects will give you the biggest bang for your buck. Sometimes just a small tweak in plans can add up to major bucks when it comes to selling your home in Jacksonville.
Add Value with Home Improvements
- Vinyl siding: Vinyl siding is durable and looks great, making it a great renovation project to take on. The average cost of vinyl siding is just over $11,000 nationwide and most sellers can get about 73 percent of this returned upon selling, which means the vinyl siding can add about $8,000 to the homes worth.
- Steel front door: Shut the front door—a steel door that is. Switching out your standard wooden door for a steel version adds security to the home along with a bit of value. Nationwide a steel door costs about $1,100, but you can recoup about $975 of that, or 85 percent of the cost.
- Deck: Outside living space adds major value to your home, and gives you and your family a nice place to sit and enjoy the sunshine. This is one of the best things you can do outside of adding indoor square footage to your house. A professionally installed deck will cost upwards of $9,000, depending on the size. However, that same deck can add more than $7,000 to a home’s value—or about 77 percent of the original cost.
- Kitchen: For most families, the kitchen is the heart of the home. Because of this, investing in updating your kitchen will most often add value to your home. According to multiple sources, you can expect anywhere between 60%-120% of your investment on your kitchen updates. Keep in mind to never make your kitchen fancier than the rest of your house, or neighborhood.
- Bathroom: Bathrooms are also a safe bet to update. Simple things like a new toilet seat and a pedestal sink are a quick and easy upgrade yet make a big difference in the look. Consider replacing old, discolored bathroom floors, tubs, and showers. There are one-piece units which require professional installation, but can still be cheaper than paying to re-tile walls and replace the tub.
- Roof: Not only does adding a new roof make your home look better and improve curb appeal, it can keep pesky leaks from damaging ceilings, walls, or causing other structural damage. Sources report that recent studies show spending $14,000 on a new roof can even up the asking price by $10,500. That is a return of investment (ROI)of 75 percent!
- Window: Replacing windows can help you save money on your electric bill and add curb appeal. On average nationally, you can get back nearly 90 percent of your window replacement.
These are just a few home repairs that can give your home some added value when you decide to move on in the future and put it up for sale. Even if you don’t think you’ll see, these improvements can add value in the average cost of a rental property, helping you to bring in more money monthly on your investment property.