When preparing your home for sale, you may find yourself with a long to-do list of painting, touch-ups, and small repairs that will improve the immediate look of your home, however, some of the larger, less glamourous projects are where you will find the best return on your investment.
If you are planning to do some major home upgrades, these 3 home projects, that you can do this winter, will bring you up to 1000% ROI:
Hardwood flooring is number one on most buyers' wish lists and can offer a huge ROI.
Not only are hardwood floors less expensive than tile, but they are also durable, elegant, and affordable. These floors are easy to clean, do not collect dust or bacteria and look great with all furnishings and décor.
One thing to keep in mind with hardwood floors is that they are prone to scratching and require special care to keep clean. For an affordable and durable alternative, you may want to consider installing laminate or vinyl lookalikes.
HVAC systems are one of the longest-lasting appliances in your home, with many lasting up to 25 years.
An upgraded HVAC system will offer the following benefits to you, and any potential buyers:
- Decreased electricity bills
- Reduced carbon footprint
- Upgraded safety
- Improved comfort
- Proficient airflow
- Quiet operation
- Programmable thermostats
There are a few options when it comes to upgrading your hot water heating system.
Replacing a hot water tank will immediately save you up to one-third in electrical costs. The average lifespan of a hot water tank is 8—12 years, however, upgrading early can save you money and problems in the future.
Installing tankless hot water heaters, which will last twice as long as a hot water tank, will save you money each month on your energy bill and offer you endless hot water. The tankless hot water systems require less maintenance and save ample amounts of space in your home. They can be installed under the counter, in the shower, or anywhere you see fit.
While not as popular in Canada yet, tankless water heaters are seen more frequently than hot water thanks throughout many parts of Europe and Asia.
When preparing your home for sale, think of the upgrades that will appeal to potential buyers. While almost all upgrades will increase the value of your home, some will provide a much higher ROI than others.