How to Find a Great Deal on a Foreclosed Utah Home
Looking for a great deal on a foreclosure? Heres what you need to know about buying foreclosures in Utah.
If you plan to upgrade your home, the first considerations may be kitchen renovations, an updated bathroom or new windows. However, some unexpected updates can take your home to the next level and give you the best return on investment (ROI).
Look for ways to make your home more livable while increasing its price tag. Imagine how thrilled buyers will be when they walk into your house and it has the one feature on their wish list that no other home has. Here are five distinctive upgrades that add significant value.
1. Smart HVAC Zones
Many homes are decades old and may not have the latest technological features. Redfin analyzed MLS data on homes purchased between 2012 and 2024 and found the median house age today is 38, an increase of about 10 years from 2012.
A home's heating and cooling system is crucial to its residents' comfort level. Adding smart HVAC zones allows homeowners to target rooms where people sleep or spend most of their time to ensure the perfect temperature.
2. A Functional Mudroom
Remodeling an entryway or other area to create a mudroom can entice buyers and provide you with functionality while living in the home. By having a dedicated space for shoes and jackets, you keep all the clutter out of the main living spaces of your home. When guests arrive, they see a pristine area rather than one cluttered with backpacks, tossed keys, letters falling off the counter and shoes scattered everywhere.
You can transform a small entry from the garage or part of your laundry room into a storage space by adding cubbies, hooks and open shelving.
3. A Residential Elevator
Home elevators were once primarily seen in Hollywood movies, but they are more common today. They enhance a home's value because they make life more convenient for people with mobility issues or provide assurance for seniors.
Since less than 5% of American homes offer accessibility features, adding an elevator provides the function that potential buyers need. If you own a multi-story property, an elevator can enhance accessibility. An upgrade like this one makes your property unique and can serve a wider set of potential homebuyers. Smaller elevators can often be added without doing major reconstruction of your home.
4. An Upgraded Garage Door
Updating your garage door can add curb appeal and more functionality to your home. The cost to replace a garage door is about $4,513, but the ROI is 193.9%. A beautiful exterior can attract buyers and help your home sell faster. You can also up the insulation factor for better energy efficiency or a controlled temperature in your garage.
Rather than a plain paneled door, you can choose a carriage-house design and add glass panels or a wood finish to make the design more modern or elegant. Online wizards allow you to upload an image of your home's exterior and try different options to see which looks best on your house.
5. Custom Built-Ins
People sometimes move to a new home because they're running short of storage space, and the family has outgrown what they have. Adding built-in storage offers more room to keep things tucked tidily away and creates a unique look that gives a home personality. Add window seats with hidden storage underneath, cubbies, or custom shelves around features like fireplaces.
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Choosing high-quality woods and materials elevates your home's style. More costly upgrades have lower returns, so consider how much you’re investing versus the perceived value of the investment and what buyers might pay for it. If you’re unsure, consult a local real estate professional.
Creating Lasting Value
While these upgrades may not be the first thing you consider when planning renovations with an excellent ROI, they are unique enough to set your house apart from others listed on the market. Choose the ones that make the most sense for your living situation, and consider whether you can get your money back when you sell.
