Trying to decide which home improvement project will have the biggest impact on your home value? While there are many factors that play into the overall value of a home, it pays to look at the roof, windows and the heating, ventilating and air conditioning (HVAC) system. Focusing your resources on these three elements is a great place to start when budgeting for upkeep and maintenance on your home to help increase value.
Aging or leaking roofs need to be replaced if you want your home to be attractive to potential buyers. Not only does it negatively impact your home’s curb appeal, but replacing a roof is a large expense potential buyers want to avoid. As long as a roof is in good condition and not close to the end of its life-span, buyers tend to be satisfied with a roof as-is. Marketing your home with a new roof will give potential buyers peace of mind knowing they won’t have to worry about it right after moving in.
Windows have an instant effect on the curb appeal of your home and making it attractive to buyers. They are also an important factor in lowering your utility bills due to the energy-efficiency of new windows. This upgrade can be pricey, so how do you know when it’s time to replace your windows? Good-quality windows that are well-maintained will last around 20 years. Even if you aren’t close to the 20-year mark, it’s important to look for signs of aging around your windows. Some things to keep an eye out for are moisture between the panes, stickiness, warping, visible rot and draftiness.
Heating, Ventilating and Air Conditioning (HVAC)
An aging HVAC system can be a turn off to potential buyers. If your current unit is 10 years or older, a buyer is thinking about how they will be stuck paying to replace it soon. The energy-efficiency of a home’s HVAC is also top-of-mind for buyers since it can greatly affect utility bills. So when it comes time to replace your system, it’s best to get input from your Shorewest, REALTOR® and a local HVAC professional before making a decision. It’s important you get an energy-efficient system to maximize the impact on your home value.
One thing to always keep in mind when making upgrades to your home is that you’ll get the best return on investment if you choose materials that match other homes in your neighborhood. If you put high-end materials on a starter home, you’re limiting your return on investment, because the value is not likely to rise much higher than the houses surrounding it.