Home Improvements help raise your home’s curb appeal and resale value. Additionally, some home improvement projects make your rooms more comfortable, accessible, and stylish. Whatever home improvement projects you choose; the result should make sense to you. Most home improvements are costly, running budgets of up to $ 20,000. With this in mind, you should carefully consider the renovation projects that are right for you. While basic home improvement projects are bound to give you a return on your financial investment, you should think beyond financial gains especially if you plan to stay on your property for a while. In today’s post, we explore the home improvements that would just make sense.
Since most people consider the Kitchen your home’s heart, most updates in this room pay off. So long as you don’t go overboard, expect to recoup up to 120% of your investment. Minor renovations such as renovating cabinet doors, drawer fronts, and repainting can instantly upgrade your kitchen. Replacing your older appliances with energy-efficient models helps save money in energy bills, which is attractive to prospective buyers. Besides trying to attract buyers, you can remodel your kitchen in a way you and your family will most enjoy it. This will help you make the most of your kitchen even if you don’t get 100% of your investment back.
If you invest in an additional bathroom, you’ll recoup between 80% and 130% of your spending. Check extra rooms and underutilized spaces to find a location for your new bathroom. Closets, basements, and the areas under stairs make the perfect candidates for an addition. To save money on additions and accessories, you should check vendors like Lowe’s and Home Depot for discounts on former floor models. Bathroom remodeling is also a great way to improve the comfort and value of your home. Most bathroom upgrades recoup over 100% of the initial investment, sometimes going as high as 200%. It’s easy to tell whether a bathroom is well-maintained, so keep the appliances and fixtures up-to-date for an improved appeal.
With the current real estate market in a slump, most homeowners -especially the elderly- are choosing to ‘stay in place’. This has raised the demand for accessible homes. If you have a disabled family member or anyone who could benefit from improved accessibility, now is the best time to do it. Accessibility features include wider entryways & hallways, flush thresholds, lever-style doorknobs, and recessed balconies. Not only will you improve the quality of life for the aging or disabled family members, but you will also recoup up to 70% of your investment.
Install Energy-Efficient Windows
Energy efficiency is the top priority of any homeowner or prospective buyer. Energy-efficient windows can save you up to $500 annually in energy bills. Replacing drafty windows with energy-efficient ones entitles you to a 10% tax credit. Since most buyers look for energy-efficiency when on the market, you are guaranteed a 60%-90% return on investment when you install energy-efficient windows. As the average window installation costs between $ 7,500 and $10,000, you are bound to recoup your investment within a few years through energy savings.
Basic Home Improvements
All your home improvement projects should help you keep your home’s structure sound. No prospective buyer would purchase a home that requires constant maintenance and repairs. Your buyers are most likely to buy your home if they won’t have to spend on keeping basic systems running. Basic home maintenance also makes the home comfortable for you to live in during your stay. You should, therefore, keep your roofs leak-free, attics insulated and exterior walls painted. Other basic updates you could perform on your home include: cleaning your gutters, replacing worn-out electric wiring, replacing rotten wood joists, and repainting your siding. With routine maintenance, you will keep your home’s aesthetic and functional appeal throughout your stay. Buyers are also likely to pay more for a safe, solid, and healthy home.
Let Aspen Help You Realize Your Home’s True Value
We have explored some popular home improvement options to help add value to your home. With the current slump in the housing market, focus on smaller projects that improve your living experience in the home. Talk to Aspen Home Improvements if you are looking for upgraded windows, sidings, doors, and other home improvement projects. With over 25 years’ experience performing renovations in Delaware, Pennsylvania, West Virginia, and Maryland, contact us today for a free consultation on how we can help you improve your home’s value.