How to Increase the Value of Your Home
You probably know that not all home improvements and renovations are created equal. So, how can you choose between adding wood floors and remodeling your kitchen or bathroom? How much would adding a bathroom or bedroom really increase the value of your home?
There is no doubt that when it comes to home improvements, many homeowners in the US strive to find the delicate balance between choosing home renovations and additions the family will love and those projects that will increase their property’s resale value. However, the good news is that increasing your home’s value is much easier than you might think.
Follow our investment ideas, and your lovely home will be worth a lot more. Increase your home’s value with these four “investment” tips:
Home Renovation/ Improvement Tips to Increase the Value of Your Home
1. Deck Addition
For many homeowners, entertaining spaces and enhanced outdoor living rank at the top of their wish list. This is why if you have been dreaming about adding a new deck to your home, this is a great year to make your dream come true. You can increase the value of your home by adding a deck.
Did you know that outdoor spaces, such as decks, have become more attractive and desirable, particularly since more people now stay home for their vacation? So, if you make the deck more attractive and appealing, your home will be more enticing and appealing to prospective homebuyers when you sell.
Also, note that well-designed decks are certainly top selling points, and you may recoup up to 65% of the investment you make on a new deck.
(READ: Curb Appeal: How to Maintain a Green Lawn in Summer)
2. Replacement Windows
Most people know that window replacement projects and investments have withstood the test of time, still accounting for one of the highest Return on Investments (ROIs) on a remodel.
According to estimates, vinyl window replacements are likely to return almost 77.5% of their cost at resale, which is excellent. However, did you know that wood window replacements have an even higher ROI of 78.8%? Nowadays, homebuyers also look for homes with energy efficiency in mind. This is why drafty and old single-pane windows can be a big turn off.
This is why new windows can be one of the most efficient uses of your rehabbing budget. They will simultaneously increase the value, curb appeal, and energy efficiency of your home.
3. Paint as an Excellent Upgrade
The great thing about a new coat of paint is that it keeps your house looking its best and also defends its surfaces from wear, tear, and many elements.
If you are looking to sell your home, do not make the mistake of blowing thousands of dollars having every square inch in your home repainted. Rather, focus on some high-traffic areas, such as your kitchen. And it is better to consider low-VOC paint; this will make your kitchen more eco-friendly.
4. Smart Thermostats
Keep in mind that inexpensive tech upgrades, such as smart thermostats, can make your home stand out. And the best part is that you will not need to shell out thousands of dollars in order to make your abode shine.
Also, having smart home features, such as smart thermostats, can help attract a buyer’s eye, which will go a long way when it is time to sell your home.