While trends change from one year to the next, there are certain cost-effective home projects that typically pay off more consistently than others when it is time to renovate. Investments in kitchen and bathroom upgrades are usually smart investments that reap high returns. Projects that enhance curb appeal or make a home more energy-efficient are also popular choices that can make a significant difference in the sales price of a home, driving them higher.
Below are some renovation projects that are likely to pay off.Read More »
Every neighborhood is different with a unique set of norms. Spending money on meeting the standards of the neighborhood is always a smart move. Replacing old appliances with newer models is highly recommended. A minor kitchen renovation might include upgrading countertops, refacing cabinets and installing new flooring. Another inexpensive way to make your kitchen pop is to replace the hardware. The kitchen sink is also up for grabs as a relatively inexpensive way to modernize a kitchen.
2. Bathroom remodel or addition
Bathrooms have certainly changed dramatically with more emphasis on walk-in showers instead of the whirlpool tubs that were so popular for a while. Showerheads with several settings are sought after as expected necessities in the modern bathroom. Currently, stone floors and countertops are excellent design choices for resale purposes.
For people in an older home with a single bathroom, it is more practical to spend allocated bathroom remodeling funds on adding an additional bathroom rather than upgrading the existing one. Having only one bathroom is not considered functional in today’s real estate market.
3. Make the home more energy-efficient
Implementing green upgrades will definitely increase your home value and pay for themselves in utility savings. As climate change has become a major concern, many buyers strongly prefer homes that are designed with energy savings in mind.
4. Create an outdoor space
Finished outdoor areas can be everything from a sophisticated outdoor kitchen with a pizza oven to a screened-in porch with a fireplace. Decks and fire pits are also excellent options for the backyard. These outdoor renovations add value to any home.
5. Add space
There are two ways to add space to a home. One way to go is to add actual square footage. The other option is to increase the amount of livable space via design changes and decluttering efforts. Adding a sunroom or finishing a basement to create a media room are the types of home additions that add value. Exercise rooms and home offices are also highly prized additions.
6. Home Maintenance
While this type of project is not as exciting or glamorous as adding trendy new design features, replacing an aging roof or plumbing in an older home always pays off. It is important to budget these practical maintenance expenses into an overall home renovation or risk not having the money later when the problem becomes a crisis. For example, when it is time to sell a home, buyers will not overlook a roof that leaks in an otherwise stylish home tricked out with a lot of trendy features. Until the roof is replaced or fixed, the new outdoor kitchen won’t make up for this basic flaw.
7. Exterior Paint
Fresh exterior paint adds to the curb appeal and makes a home look new again. Selecting attractive paint colors can make the exterior pop. As a relatively inexpensive upgrade that should be a part of normal maintenance, a nice exterior paint job can make a significant difference in the appearance of the home.
8. Invest in professional landscaping
Professional landscaping can make a huge difference in a potential buyer’s first impression of a home. As a relatively inexpensive way to fix up a home, landscaping is one investment that will pay for itself. As a way to save even more money, anyone with an eye for color who enjoys landscape design can make this a DIY project.
9. Create an inviting and dramatic entrance area.
Never underestimate the importance of the front door and the first impression it makes. Lighting and a beautiful door can make a surprising difference. A well-lit area with a beautiful door, attractive landscaping and accent lighting transforms what can be a boring, lackluster entrance into an inviting experience. Relative to other types of upgrades, a modest investment like this can make a dramatic difference.
10. Change the Garage Door
The sheer size of the garage door means it is something that can’t be ignored. If the door is not attractive or in good shape, then it should be replaced. Sometimes, all the door needs is a little paint. Remember, curb appeal is an important thing to consider.