Selling a house can be pretty challenging with the growing number of competitors in today's market. While such is the case, there are some home renovations that you can do in order to boost its selling price and increase your chances of selling it in the fastest time.
Home renovations can help boost the value of your property as long as you upgrade only in those areas, which yield the highest return on investment. Realty Times cited several reports, including a list of renovations that will help you recoup your money.
According to the publication, fiberglass attic insulation has been found to yield 100 percent ROI this year. The said upgrade will boost the selling price of your house at 117 percent of the cost of the said project.
"This is great news for homeowners, who know that insulation improves the comfort and energy efficiency of their home, but may not know that it adds value as well," said the President of the North American Insulation Manufacturers Association, Curt Rich.
The cost of upgrading your home with the fiberglass attic insulation is estimated at $1,268 and this would immediately boost the property's value to $1,482.
Aside from the fiberglass attic insulation, manufactured store veneer was found to yield an ROI of 92.9 percent while a midscale garage door replacement will give you an ROI of 91.5 percent.
The outlet noted that based from these findings, exterior upgrades seem to boost a property's value over those renovations done inside the house. A midrange bathroom addition would only yield a 56.2 percent ROI while a bathroom remodel only has a 57.5 percent ROI.
Investopedia also reminded homeowners that aside from these renovations, it is always important to take note of the basics when selling a house.
For example, a house with fiberglass attic insulation would not look as attractive if the house you're selling has a roof with leaks or gutters that do not function.
