Making home improvements to your house is a great way to make it more comfortable and personalized, but it can also increase your home’s value. Be careful about the projects you select to take on if you’re worried about the resale value of your home. Some home improvements can actually detract from the asking price, while others add significant value. Don’t miss these helpful tips for choosing projects that you can enjoy and earn money on when it comes time to sell your home.
For a home renovation project that will always add value to the home, consider starting with the kitchen. You can expect to get up to 120% of your investment back on this one room in the home, as long as you stay with timeless trends. While it can be tempting to go with a deluxe kitchen to make it the best room in the house, you should take the rest of your home into consideration. Buyers want a home with a kitchen that matches the rest of your home. If you’ve got a quaint farm home, maybe the kitchen shouldn’t look like it belongs in a Michelin-star restaurant.
Fresh Coat of Paint
A new coat of paint can do wonders for your curb appeal when it comes time to resell the home. This home improvement is also pretty affordable, depending on the size of your home. It typically costs anywhere from a few hundred for the DIY project, to the thousands if hired out, to give a home a new coat of paint. Choosing fresh, modern colors will increase curb appeal, which in turn can increase the bid value of your home.
For those looking for additional value to your multiple-story home, you can start with adding a home lift to home improvement plans. Stairs are never considered a plus, since dealing with them every day is a headache. The type of elevator you install in your home will affect how much value it adds to the home. Shaftless elevators installed on the outside of the home are less desirable than elevators that have been discreetly incorporated into the home’s aesthetic. Stylish home elevators add additional functionality to your home without looking like an eyesore or taking up valuable space.
A Much-Needed Bathroom Update
Homes that only feature one bathroom can add significant value to the home through a bathroom addition. It’s estimated you can see up to 130% of your investment recouped when adding a second bathroom to a single bathroom home. Finding the space for a second bathroom isn’t as hard as you think, either. Closets and areas under the stairs are easily converted into a half bathroom for added value.
Energy efficiency is often one of the main points on buyer’s minds these days. No one wants to purchase a drafty home with utility bills that skyrocket during peak seasons that will require significant updates. Adding energy-star rated windows to your home can also save you quite a bundle of money per year if you’re not selling your home anytime soon. You can expect to recoup around 90% of the cost of installing energy-efficient windows. A green tax credit is also available to cover up to 10% of the upgrade. Other credits from your state or utility company may be available depending on your location.