4 Home Improvement Projects You Can Do to Increase Your Home’s Value
Your home is a wonderful, life-changing, gratifying purchase. Not only does it give you and yours the sense of security and belonging to a place to call your own provides, but it can also prove to be a valuable investment down the line. In fact, fixing up your home can increase the resale value if you go about it the right way. Here are a few projects you should consider.
Update key areas.
Home renovations can pay off—there’s no question about it. However, not all renovations are created equal. In fact, there are certain rooms that you should focus on more than others if you really want to drive up your home’s value exponentially, such as your kitchen and bathroom.
This more than makes sense as both spaces serve specific functions, making it imperative to incorporate modern fixtures and appliances that make life more convenient. Moreover, they should also be aesthetically pleasing, making it more appealing to potential buyers right off the bat.
No doubt, one of the best ways to spruce up the look and feel of your kitchen and/or bathroom is by changing your counter-tops. While there are so many gorgeous, functional, and durable surfaces available today, such as granite, marble, and more, it’s unsurprising that many gravitate toward quartz counter-tops.
Quartz is a non-porous material that is as durable as it is highly sanitary. This type of surface will normally set you back about $125 per square foot and will need to be installed by a professional who is familiar with the tricky installation, from leveling cabinets to adding supports, as well as fabricating the counter-tops and joining them at the seams.
If you can’t swing a full installation, Forbes points out you can mix-and-match surfaces in a logical manner. Think in terms of how the specific workstation is used, how the final result will look, and make choices accordingly.
Don’t underestimate surface changes.
You might be surprised to know that driving up your home’s value can be as simple and as cost-effective as applying a fresh coat of paint. In fact, it’s been found that simply repainting your home’s interior can have an ROI of as much as 107 percent! Moreover, certain colors offer more value than others, so stick to warm neutrals and you’ve got yourself a winner. This is a project you can do for under $100 per room, or pay a pro for a few hundred.
Equally as impactful and potentially as budget-friendly is replacing your flooring. This is especially important when your floors get plenty of action, like if you have pets or children. Hardwood flooring—or one that looks like it—is particularly appealing with 54 percent of buyers willing to pay more for such. However, do make sure that it fits the home’s general aesthetics and flow. As an example, if you decide to have hardwood floors installed, The Floor Shop says to expect to pay between $8,500 and $12,400.
Another foolproof way to increase your home is by investing in energy-efficient home improvements. In fact, it’s been found that the average home buyer is willing to pay close to a whopping $9,000 for a home that has a verifiable reduction on energy costs.
Such improvements include increasing insulation, installing new windows, replacing the HVAC system, and many others, so explore your options. As a reference point, if you decided to install solar panels, you could expect to pay between $10K and $30K, and you could recoup your investment in energy usage alone in about ten years (make sure you speak with your realtor on which programs are best for resale and which are not).
Spruce up curb appeal.
Lastly, don’t forget that those first impressions last, so make sure to pay special attention to your property’s curb appeal. Studies show that sprucing up your landscaping can boost your home’s value up to 5 percent. Even painting the front door a dark color can lead to the property selling for more!
Needless to say, it’s always good practice to undertake home improvement projects with a firm eye to your property’s future value. Such projects may come with challenges, but the possible pay-offs in the future undoubtedly make them all worthwhile. And on top of that, you get to proudly point to your finished project and say that's mine!
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