If you own a home, you're invested in real estate. Aside from riding the rising housing market wave, there are a few things you can do to set yourself up to make money when it's time to sell.
Remodel with a future sale in mind
You may want to take a sledgehammer to your ugly bathroom, but some renovations recoup less value than others — take full-tilt, upscale bathroom remodels, which recover just 56.6% of the cost on average, according to national data from Remodeling magazine's 2020 Cost vs. Value Report.
The three home improvement projects that recover the most value, according to the data, are:
- Manufactured stone veneer — 95.6% cost recovery
- Garage door replacements — 94.5% cost recovery
- Minor kitchen remodels — 77.6% cost recovery
If you really hate that bathroom, consider a minor upgrade, which tends to recover more of its cost than major, upscale changes.