The Home Improvement Projects That Provide the Greatest Bang for your Money
Whether you plan to remain in your home for the next several decades or not, you’re going to be thinking about ways to improve the value of your home. The benefits of home renovation go beyond resale value. It’s also an important factor in securing better refinancing options and having improved collateral. A home is a major investment that can serve you well for years to come. Homes should be treated like the investments they are.
The most effective way of increasing the value of your home is by investing in home improvement projects. However, it’s not feasible to just do anything to a residence and then assume the automatically go through the roof!
Here are projects that have passed the test of time and that are sure to add to your home’s value no matter where you live.
If you want the value of your home to go up overnight, this method works. Simply add on an extra bathroom or bedroom. Incontrovertibly, the value of two identical houses would have a sharp difference simply because one house has 3 bedrooms and the other has 2 bedrooms. Homes with more rooms accommodate more people, and offer more space, so they are naturally worth more.
A common method for the additional room is building an extension to your home. However, if there isn’t room on the land to add on, taking a large room and converting it into two small rooms is possible too. In the majority of cases this is still a value-adding renovation.
Upgrade Your Kitchen and Bathrooms
Often for potential buyers it’s the kitchen and or bathroom that will sell the house. The best way to draw in buyers is by incorporating modern elements such as an open floor plan, stone counter tops and high-end appliances in your kitchen design. If you want to upgrade your kitchen, it is going to cost you a good amount of money, but it will look so much better, especially if you are selling the home.
Bathrooms are also a tricky spot. New tubs, adding a sink, and placing additional storage into a bathroom can attract a lot more interest from buyers. A well modernized bathroom will unquestionably increase your happiness as well. People have to spend a lot of their time in the bathroom.
Redo the Heating and Plumbing System
It’s not as glamorous or visible, and friends can’t admire the changes. Updating the HVAC and plumbing is important for a few reasons: it improves the home’s value, it decreases the risk of accidents, and it can save on energy costs. This is particularly true when it comes to older homes, many of which have copper pipes or gas heating. Copper pipes are illegal in some areas, which means you might be eligible for a subsidy you can use to update your old plumbing.
Not all home renovations need to break the bank. Cleaning gutters, improving the lawn, or painting the outside can all add value to the home. Nearly any type of home improvement tip that you try will help you increase your home’s value a bit, but those are just a few simple and valuable suggestions. Whether you add rooms or renovate existing ones, your home’s value is set for a long time.
Best wishes on your home improvement projects, and hopefully they will allow you to make your home even more valuable.