House prices in major cities across California enjoyed steady growth in 2017. It's been a seller's market in this state for some time now and analysts have predicted further price growth throughout 2018.
Rather than to move to a new Californian property, Southern California homeowners in may therefore decide to take advantage of this trend by adding value to their existing homes, via the addition of conservatories, extensions or replacement windows. San Diego, Los Angeles, and San Francisco are among the cities where properties have experienced significant growth in value.
It has been predicted that house price growth will slow in 2018 across California. Nevertheless, improving your existing home and waiting for a lull in the market before house-hunting could still prove to be an intelligent financial decision.
Best Home Improvements for 2018
Replacement windows and doors are commonly cited by real estate experts among the most affordable cost-effective improvements you can make to your home, when you consider the value they add to a property.
Old-school double-hung windows typically make a house looked dated and can turn buyers off. This is likely why homeowners can typically make a 90% return on their investment at sale when buying new double or triple pane windows, according to research from HGTV. It is suggested that the cost of replacing ten 3×5 ft windows may set you back around $9,700, while adding to $8,700 to your home's value.
Homeowners are also likely to benefit from a drop in their heating bills after replacing their old windows with a newer more energy-efficient model. Of course, the cost of central heating is unlikely to be at the top of homeowners' concerns on the West Coast. In the warm climates that California presents, it's useful to opt for low-e glass windows that reflect heat. Also, consider windows with argon gas inside the pane. This further prevents both hot and cold transference from within the window.
The front door is often the first part of the house that prospective buyers will see, so a modern door is also likely to have a favourable impact on selling price. The right door could also lower your energy bills by helping to prevent heat or cold entering or leaving the house.
While major additions to the house, such as a loft conversion or a conservatory, will remain the most cost-effective home improvements you can make in 2018, these will require more capital. If you're planning major improvements like these, equip these new rooms with the most modern windows and doors in order to maximize your return on investment.