Adding Value to Your Home
When you sell your home after living in it for years, you rarely get out of it what you put in. Many improvements and changes you made won’t increase the value of your home, and the bad housing market is causing many homes to be sold for much less than they’re worth. If you want to increase the value of your home, here are five remodeling projects that actually will do just that.
Update the Kitchen
Updating your kitchen is a worthwhile investment – but it must be done right. Kitchen remodels can be incredibly expensive, and you want to keep costs as low as possible while also getting the most bang for your buck. Don’t create a fancy, gourmet kitchen. Installing new cabinets or countertops can make a huge difference, as can replacing the flooring. It all depends on what your kitchen could benefit from the most. Could you improve kitchen storage by adding a pantry? Extend kitchen countertops for more space? Give the room a fresh coat of paint?
Upgrade Your Appliances
If the appliances in your home are fairly old, you can increase the value of your home by upgrading them to more energy efficient models. Putting Energy Star appliances in your home is a great investment, because buyers love appliances that are new and efficient. Get a new fridge, for example, or a new washer and dryer. Just be sure to choose reasonably-priced appliances so you can get a higher return – the top-of-the-line appliances aren’t always that much better anyway.
Add a Bathroom
Is there a small space or closet, for example, that you could turn into an extra bathroom? The more bathrooms your home has, the more appealing it is in general. If your home doesn’t have a guest bathroom, or if everyone shares one master shower, see if you can add another. Adding a simple, functional bathroom can make your home more appealing to buyers.
Add a Deck
Decks are excellent for entertaining and relaxing, and they definitely increase the value of your home. If you have a background with no or minimal deck space, add a new deck. A modest deck may cost a couple thousand dollars, but you will get a nice return on your investment. Hire a contractor that you trust, or do-it-yourself if you’re so inclined. A nice, wood deck will be a great selling point.
Making your home more eco-friendly will make it more valuable, especially because people see an energy-efficient home as a way to save money in the long-run on energy bills. Besides upgrading your appliances, you can do things like replace your windows with Energy Star models. The insulation of your home is another area where you can improve your home by either adding energy-efficient insulation or finding and fixing leaks. If you don’t have a digital, programmable thermostat, get one. You may even be able to get a federal rebate for many of these updates, making for a better return on your investment.
Minnie Brown writes about home improvements. Click here to learn more.