+50 Best Remodeling & Home Improvement Ideas To Increase Home Value
More and more people have decided not to sell their home just yet, with the current condition of the real estate market. But what most of the homeowners do is to do some improvements in order to somehow increase its value. That way, when the time comes that they will decide to eventually sell the property, they will make the most money out of it.
In this article we will take a look at the different kind of home improvement projects you might be considering and we’ll separate the good from the bad. Stick around if you’re interested in getting ideas for your next home improvement or remodel project, or you might be kicking yourself later on when your home’s value did not go up like you thought it would. We will focus on finding the best projects you can undertake here as well as provide you with the best tips for each kind of remodel. Just keep reading, and you’ll soon learn how to remodel while still increasing your home’s value and getting the house that you want. Here are all the topics that will be covered in this article.
- Infographic of Remodeling Projects That Increase Home Value
- Factors that Affect the Value of Your Home
- Reasons to Make Repairs Before You Sell Your Home
- Important Repairs to Make Before Selling a House
- Cheap Home Repairs
- Home Improvement Mistakes to Avoid if You’re Preparing to Sell your Home
- Cheap Ways to Increase Home Value with Home Improvement
- How to Increase the Value of Your Home
- Best Return on Investment Home Remodeling
- How to Increase the Return on Investment with a Kitchen Remodel
- Should You Replace Carpet Before Selling Your House?
- How Much Value Does a Pool Add?
- How Much Value Does a Finished Basement Add to Your Home?
- How Much Value Does a Bathroom Add?
- How Much Value Does a Garage Add?
- How Much Value Does a New Roof Add?
- Home Energy Efficiency Improvements
Infographic of Remodeling Projects That Increase Home Value
We made a simply infographic to help you guide the different remodeling types that you may be considering as well as the most important things to be aware of with each type. To see the full version of the infographic, simply press the photo underneath.
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Factors that Affect the Value of Your Home
Before you go on to plan for the renovation or remodeling of your home, it would be best to first identify those factors that could affect the value of a home property.
- Property location – we all know that location is important in terms of the value of your home property. But what does location exactly mean? Location basically translates to some key factors that could impact your everyday lifestyle, such as the quality of schools nearby. This is especially important for homebuyers who have kids who are going to school.
Another important factor is local employment opportunities, which is a must for employment age homebuyers. Another factor is proximity to recreational, social and shopping facilities. These preferences are important in order to make your home property to become immensely valuable.
- Upgrades and updates – although some homebuyers are actively seeking out fixer upper properties, most of them would actually prefer to buy a house that is ready to move in and they would not mind paying for a reasonable premium to achieve such comfort. A new roof, for instance, will generally recoup more than 80 percent of its value once sold. A lot of homebuyers cite that upgraded bathrooms and kitchens are among the most important upgrades since they often present a major headache if you ever decide to upgrade them.
- Inspection report – for some of the most sought after real estate markets, homebuyers tend to waive their right to acquire an inspection report. However, this is a risk that most lenders will not want to underwrite. For several homebuyers, mortgage financing is usually contingent in a favorable inspection. Even though the property is under contract, the inspection report is important and could greatly impact the overall cost of the home property.
- Neighborhood comps – comparable properties, also known as the comps, that are being sold near your area will also have an impact in the overall market value of your home. Real estate agents and appraisers will tend to look for recent sales of homes that have similar features, which they will use as benchmark against the potential value of your home. Short sales and foreclosures tend to complicate things since they usually sell properties at a much lower price, and thus, decrease the overall average property price in your neighborhood.
- Appraisal value – appraisal is the formal process followed by the real estate industry in pricing a home property. All of the states are required to have certified and licensed appraisers. When a loan will be involved in financing the purchase of a property, or there is a home equity borrowing involved, an appraisal will usually be required.
Most of the lenders will not accept loans that are more than the appraised value of the property. In addition, if the appraiser found that there are structural issues, like termite damages, the bank will most likely not grant the loan unless these issues are fixed, which will normally be at the expense of the seller.
Reasons to Make Repairs Before You Sell Your Home
There are many reasons why you should consider making improvements in your home before you sell it in the real estate market. Even if you know that your home will not linger for long in the real estate list, you still run the risk of a buyer asking for credits and concessions for those items you did not repair. The quotes that experts will provide for doing the work will usually be higher from your own out of pocket cost. Here are more reasons why you should consider getting your property repaired before selling.
- Homebuyers will conduct an inspection and inspectors could easily identify any issues in your property and will suggest for needed repairs. Thus, there is really no way to avoid this. You have to fix any issues in your property, credit money to the buyer or drop the cost in order to compensate for this.
- Most of the common home repairs are easy to do, and oftentimes inexpensive. You can even do it by yourself over the weekend, if you have the tools. These are normally things that you have been doing in the past. Ripped window screens, leaky faucets and cracks on the plaster are just some of them. They might just be minor issues, but if they are bothering you, then this will bother the buyer as well so you have to get them fixed.
- Eliminating any of the distracting drawbacks in your house will allow potential homebuyers to have a positive experience once they start touring your home. This means that open house visitors will put more focus on the positive side of your home instead of the negative features.
- Getting your home prepped completely and ready could help to increase its home value since you are showing potential buyers that your home property is maintained well.
- You do not need to do any price reduction in order to reflect the overall estimated and over inflated repair costs.
- Last minute repairs that are done in a tight timeline are most likely to cost more since you will not have the time to shop around for any cheaper estimates. Moreover, your time crunch will beg for the tradesman to charge much higher fees for squeezing some workload in their schedule.
- The actual cost to repair or fix any problems in your home will always be less than the estimated cost of the buyer right after conducting an inspection.
- You will avoid any credit backs to the homebuyer for any problems identified during the course of the inspection and haggling that will drag on and on over some minor issues that could possibly cost you the deal.
- Your agent will love showing your home around and the agents of potential homebuyers would love to bring in their clients in your front door. This will bring in more potential buyers and thus, equates to more chances of finding the perfect buyer who will be more than happy to pay for the sale price.
- You will be able to sell your home faster and for a much higher value.
Important Repairs to Make Before Selling a House
Taking care of some of the most important things to repair in your home before you sell it in the real estate market will surely put more money into your pocket. It can even help it sell faster too! This is one of the reasons why agents would highly recommend that you take care of some important things before you decide to list your home and here are some of them.
- Paint – this is going to be one of the cheapest and easiest ways to update the overall look of your home. You do not need to be a professional just to make this work, so there’s no reason why you forego painting your house before selling. Lighter and neutral colors are usually the most preferred shades of color since they tend to appeal to a lot of people.
- Exterior – the first thing that homebuyers will see when checking out your house is the home exterior. Thus, you must also focus on repairing this part of your house. First of all, consider replacing any missing fence boards. If your yard is looking worse for wear, then consider adding sod.
Clear up any junk that have accumulated on your yard and make sure that the grasses are mowed and the weeds are removed. You may also plant attractive colored flowers in beds in order to give more color to your home and make it cozier and homier.
- Kitchen – we all want a huge and spacious kitchen equipped with the latest appliances. You do not really need to do a major kitchen renovation, except if your agent will advise you so.
Doing minor repairs in your kitchen can certainly make it more inviting and appealing to your homebuyers. If the painting and lighting are looking worn out, then consider updating all these.
As for the appliances, homebuyers will of course expect these to work well, so check if your dishwasher range and oven are in good working condition. If they are in awful shape, then consider replacing them.
- Bathroom – everything in your bathroom must operate as expected. If not, then consider fixing them. Running toilet and leaky faucets is the most common bathroom problems that could put off any potential homebuyers so you better get them fixed. Cleaning up the grout and replacing it is also a good idea since it could eventually get dirty after so many years.
- Lighting – the lighting in your home could transform even the smallest home to an inviting and bigger one. If you want to maximize the perception of space in your home, then take advantage of the various innovative lighting options. You will find several great lighting options online that will not only make your space look bigger but will also enhance the look of your space as well.
- Refinish your hardwood floors – there’s no doubt that hardwood floors are definitely one of the most popular flooring options for your home. Thus, consider upgrading to hardwood floors if possible. You will be able to attract more buyers if you do this. If you already have hardwood floors, then refinish the hardwood in order to change how the homebuyers will view your home.
- Functionality – check your entire home and make sure that everything works as they should – from minor things like locks and doorknobs, to bigger stuff like garage doors. Everything does not need to be new for your home to appear desirable among homebuyers. But all of the functional aspects of your home should be in good working condition in order to get the best price. Fixing some broken components should be enough to drive the price higher so consider getting them repaired.
Cheap Home Repairs
As previously mentioned, doing some repairs for your home is important before you decide to sell it in the real estate market. You do not really need to spend lots of money for the repair. In fact, there are lots of cheap home repairs that you can do that could save you thousands when you decide to sell your home. Here are some of them.
- Perk the paint up – painting might be your least favorite thing to do but remember that painting your house the moment you notice some signs of peeling can help the siding and the entire structure stay protected against water damage and the weather. A DIY paint project should cost you a few hundred dollars only.
- Make the grade – using topsoil in bringing your yard into the proper level around your home foundation is a good idea. Ensure that the slopes in your yard are away from your foundation at no less than two percent grade in order to prevent any water from pooling right next to your house, which could lead to leaking and foundation damage especially during the heavy freeze and thaw cycles.
- Filter the furnace – old and worn out air filters could restrict the flow of air into your HVAC unit and will force its motor to work even harder and ultimately cost you more money. Thus, consider replacing the filters at least twice a year, if they are not that cheap and do so once at the start of summer and do again once the winter kicks in. This simple task of maintaining your home can help the unit to operate efficiently, thereby saving you money.
- Flip the breakers – eventually, corrosions will develop at the contacts of the circuit breaker. If ignored, this could lead to an even more expensive damage. Therefore, every two to three months, flip each breaker off and then back on.
Doing these easy steps should cost you nothing, yet it could greatly increase the lifespan of the circuits, and thus, will improve the value of your home as well.
- Insulate the attic – one of the main reasons behind heat loss in a home is inadequate insulation, which usually happens in an unfinished attic. By bringing the R-value of your attic to a least R-30, you will surely save a lot on your energy bill and your potential homebuyer will be very pleased with this and will surely not mind paying more for your home property.
Simply install new insulation batt right above the old insulation. Or perhaps, you can consider renting a blower unit and then blow it into the non-cellulose fiber insulation up to a depth of about 8.5 inches.
- Seal the shower – leaky shower could result to a damp drywall and this can in turn cause rotting, molds and water damage. The best and the cheapest way to ensure that the new homeowner will not have to tear out the drywall or call the experts for mold remediation is to repair the small leaks right before they lead to even bigger problems.
Home Improvement Mistakes to Avoid if You’re Preparing to Sell your Home
Sure, doing home improvements or upgrades can benefit you in the long run, especially if you are planning to sell your home. But there are also certain home improvement projects you should avoid and these are some of them.
- In ground swimming pool – depending on the type of pool to install, this should cost you somewhere between $30,000 and $75,000. Although having a pool in your home is a great idea and can attract some potential homebuyers, having a pool might actually make selling your home even ore difficult.
A lot of people, most especially those with small kids, would find a pool to be a safety hazard. Moreover, installing a pool could increase your cost of energy and maintenance and will also increase your home insurance. On the other hand, if you plan to live in your house for several years more and do not have any plans to sell it in the coming years, then having a pool might be a good idea.
- Gourmet kitchens complete with high-end accessories – although having a top of the line stove and Tuscan tiles in your kitchen will make your home look even more glamorous, all these costly additions will not actually pay off when the time comes that you will list your home to be sold. If you plan on moving within three to five years, and you really wanted to do a makeover in your kitchen, then you should instead invest on high quality and serviceable appliances that will appeal to most people. Too much customization in your home will only turn your homebuyers away so avoid this at all cost.
- Whirlpool baths – it might sound relaxing to be taking a hot bath after a hard day’s work, however, potential buyers will not be willing to pay more for whirlpool baths. Moreover, the cost of installing one can be very expensive. There are also some homeowners who will choose to install luxury tubs only to find out at a later time that they actually need to invest in a larger hot water tank in order for the tub to work well. Furthermore, installing the tub could result in increasing energy bills and added monthly home maintenance costs.
- Sunrooms – sunrooms can get pretty expensive and yet, it will only add little value to your home. A sunroom will only recoup about $500 for every $1,000 and even more that you will spend for the construction. Moreover, the glass will not really provide insulation, and therefore, a sunroom in your home will only increase the energy cost during summer and winter.
- Expensive landscaping – landscaping could help to transform the overall look of your home, most especially to any potential homebuyers. However, it will seem impractical to go over the top just to come up with a backyard paradise. It might look nice, but will not in any way add up to your asking price.
If you are planning to stay in your home for sometime, then this project might be a good idea as it could help improve your quality of life, especially during the warmer months. But if you are planning to sell your home anytime soon, you will not be able to recoup the cost of getting an expensive landscaping during the sale of your property.
- Room additions – adding room into your home can easily cost you thousands of dollars. If you will build new master suite you could expect around 66 percent return on your overall investment. If you will add a family room, then you can expect around 62 percent or less for your return on investment. Budget minded buyers would not be willing to pay for heating and cooling an ample spaced house.
- Home office remodeling – a lot of people do not need any luxury office in their home. The average cost of any home office renovation is around $28,000 and you could get only about 46 percent return on investment for this expensive remodeling project.
Also, you have to remember that technology tends to get outdated so easily. Thus, investing in new wiring, as well as other home office components, will not generate more income during the sale of your home.
Cheap Ways to Increase Home Value with Home Improvement
Usually, increasing the value of your home through home improvement will require spending some money. But if you are smart, then you could actually increase your home value without the need to spend so much money. Here are some cheap ways on how you can increase your home value.
- Instead of adding a room, invent one – baby nurseries, main floor master bedrooms, as well as crafting rooms may look desirable. However, a lot of rooms do not actually have them. If you’ve got an attic, den or bonus room, consider redecorating them to come up with a new room without the need to add more space into your house that could cost more money.
- Come up with several seating areas – an empty stone terrace could become an instant dining room by adding some patio furniture. The furniture can help to emphasize the overall size of the space and create a beautiful destination.
- Work with an inspector – homebuyers will usually discover problems in your home when they decide to hire an inspector. This could lead to losses in sales and reduction in the overall selling price. Therefore, consider hiring an inspector yourself before you start calling in some potential homebuyers to check out your property.
- Fix your home according to its type – each and every home property has a different personality and functionality. Buyers looking for a little lakeside cabin are not really requiring countertops made of granite, so there is really no sense in having to add them.
- Get creative by adding cabinetry – you can make your kitchen look even more gorgeous and attractive to potential buyers by adding some cabinetry. And if you think you have enough cabinets already, consider painting them instead of buying new ones. This will surely save you lots of money on your kitchen upgrade.
- Group beautiful potted plants – consider setting beautiful and colorful potted plants at the front entry of your home in order to create instant curb appeal. You can also line the perimeter of your terrace or deck with colorful blooms to create a good impression.
- Add any type of storage – homebuyers would want storage in their new home. So consider adding any type of storage. These storage spaces can also help to make your home look open and more spacious and organized. Even a standard wire rack closet system is enough to make any room look even more organized.
How to Increase the Value of Your Home
Selling a home may not be easy especially if this is your first time. So here are some tips on how to increase the value of your home and sell your home easily.
- Spend some time with a real estate expert – if you know of any real estate expert, invite him or her into your home to check it out. A lot of realtors can also do this as a courtesy, while others will charge a minimal amount for the consultation fee. You can also have an interior designer to check your house and see if they find something that needs improvement.
- Inspect the house yourself – not all home improvements should be cosmetic. Termite infestation, outdated electrical systems and deteriorating roofs should be fixed if you want your home to be improved before you sell it in the real estate market. You can also ask the inspectors to check some areas in your house that you do not normally see as they might discover some hidden problems that could potentially affect the value of your home.
- Paint – one of the easiest and the most cost effective home improvement projects is painting. When it comes to choosing paint colors, always go for the neutral shades. They appear more desirable to most people.
- Look for inspiration – another alternative to hiring a designer is to refer to books, magazines and TV shows for some design inspirations. In fact, there are lots of home improvement websites that you can check out to gather inspiration for remodeling or updating your home. The key is to keep it simple.
- Cut down energy costs – the amount of money that you will spend each month on your energy cost will seem like a fixed amount. However, several local utility companies will be willing to offer free energy audits in the homes of their customers. They will also show you how you can maximize your home’s energy efficiency so you can save money in the long run.
- Plant trees – if you’re not planning to sell your home just yet, then you can perhaps consider landscaping that could benefit you in the long run. Plant several shade trees. Not only will these make your home to become more desirable, but also once they are fully-grown, they could cut down your cooling cost by up to 40 percent.
- Low maintenance landscaping – there’s no question that colorful plants and shrubs could improve the curb appeal of your home, but when you shop at your local garden store, always make sure that you think green. Go for plants that are local to your region or those that are drought tolerant as they require less maintenance and make use of less water.
- Money saving luxury – when it comes to saving water, consider installing a water filtration system into your kitchen. Not only will these systems help to purify water, but they could also lower your groceries. With this, you will no longer have to buy bottled water.
- Improve the air quality of your home – air quality is not only about the air condition outdoors. If you’ve got older carpets, they might have some allergens and contaminants in them. The first step is to figure out if these will require replacing and if so, then you should call professional contractors who can check the quality of your air indoors.
- Clean the lawn – patchy and overgrown lawns, as well as outsized bushes, could affect the impression of your home to potential homebuyers. Taming your jungle is actually one easy fix. And for a few hundred dollars only, you can hire a lawn service company that could shape and trim your hedges.
- Cleanliness matters – first impressions always last. Thus, if you want to give a lasting impression to homebuyers, then you must clean up and ensure that everything looks neat and orderly. If you do not have the luxury of time to do all the cleaning, then consider hiring a cleaning service for a few hundred dollars only.
- Visually increase the size of your home property – the size of your home property could dramatically affect its value. However, square footage is not the only space that will count. The key is to ensure that each room in your house will appear bigger when homebuyers start checking it out.
- Invest on energy efficient fixtures – a highly functional and decorative ceiling fan is truly a beautiful thing. It will provide necessary light and during warmer months, it will create a soft breeze, thereby reducing the need to use expensive air conditioning. However, an outdated and broken ceiling fan is not only useless, but is also an eyesore.
- Consider updating your bathroom – updating your bathroom should not cost you a lot. Usually, the two rooms that will benefit the most when it comes to small renovations are your bathroom and kitchen. A cost effective change is to replace the old and outdated vanity, fix worn out plumbing and upgrade the lighting fixtures.
- Any kitchen update is equivalent to added value – the same rules in your bathroom actually apply to your kitchen too. You do not need to start from scratch to come up with a highly prized kitchen. Begin by swapping out one single item like that stained sink as well as that ancient microwave sitting in your counter.
- Replace all worn out rugs and carpets – take a look at your flooring. Are you seeing some worn out carpets and rugs? If so, then consider replacing them with new ones. Nothing can put off buyers more than the sight of old and worn out rugs lying on your floor.
- Keep up with the regular maintenance and repair – consider walking around your home and come up with a list of things that are already broken and are in desperate need of repair. Small individual repairs may not be that important, however, if every room will have just even one thing wrong, all these small things could add up and create an impression that your house is neglected.
- Get help in getting organized – you may need to hire professional organizers for one day. They will organize the various rooms in your house to make them look appealing for homebuyers who will come for a visit. A clutter free home will appear larger and cleaner, which will appeal to several homebuyers.
Best Return on Investment Home Remodeling
If you are thinking of remodeling your home in order to get the most out of your investment, then make sure that you know which of these remodeling projects have the best return on investments. Just to give you an idea, here are the average cost of some home remodeling projects and their resale value.
For midrange home improvement projects, such as attic insulation using fiberglass, the estimated cost of the job is at $1,343 and the resale value will be at $1,446. If you will choose to invest a backup power generator, that will cost you around $12,860, while the resale value will be around $6,940.
If you plan on having a backyard patio, you can expect to spend around $51,985 and its resale value is at $28,546. Remodeling your basement will cost an average of $71,115 but the resale value is at $49,768. As for bathroom addition, this should cost around $43,232, while the resale value will be around $23,283.
For upscale home improvement projects like bathroom addition, the average cost is at $81,515, while the resale value is expected to be at $46,507. When you’re only remodeling the bathroom, the cost is around $59,979 while the resale value will be at $35,456.
Adding a composite decking will cost around $39,339 while the resale value will be at $22,171. If you’re replacing your entry door with a fiberglass, that will cost around $3,276 and the resale value for that is expected to be at $2,550.
Given this information, you should be able to easily decide which home improvement projects are worth investing for.
How to Increase the Return on Investment with a Kitchen Remodel
For most homebuyers, the kitchen is that one room that could make or break a sale. A newly upgraded kitchen will surely make your home to look even more irresistible to homebuyers. Ideally, a kitchen renovation should earn you about 70 percent ROI when the time comes that you will sell your home. However, this will also depend on the features that you will choose and how much you have spent for the entire remodeling.
If you want to increase the return on investment on your remodeling project, then you should carefully choose the materials for the remodeling. Go for materials that will appeal easily to the masses. This means that you can opt for appliances made of stainless steel that are known for having high quality instead of the professional grade models of appliances. You should invest more on highly functional features such as soft close cabinet doors and drawers, pantry cabinets, etc.
Remember that no matter what changes you will make for your kitchen, do not ever compromise the overall architecture of your house. Once you sell your house, homebuyers will surely be attracted on the exterior first before they will decide to check out what’s inside, including your kitchen.
Should You Replace Carpet Before Selling Your House?
If your rugs and carpets are old and stained, then you definitely should replace them before you sell your house. As you know, homebuyers will not only consider the exterior area of your house when deciding whether to buy or not. They will also check the interiors, and will consider even the smallest details, including the rugs and carpets.
You can choose to clean them yourself, if you think you can do so. But for more persistent stains, it is best to hire professional carpet cleaners. You will pay for their services, but think of this is a good investment, and ultimately consider replacing them
How Much Value Does a Pool Add?
A home that has a swimming pool is truly a dream come true. But how much value does a new pool add to your home? A pool can make for a good investment if you live in the higher end neighborhoods where most of the houses in your area have their own pools. On the other hand, if you live in other neighborhoods where pools are not common, then having a new pool might just make your home even more difficult to sell.
Furthermore, a pool will be a good investment if you live in areas with warmer climate like in Hawaii or Florida. But, there is still no guarantee that you will be getting a return on your investment on a pool. Most of the time, the value of your home could increase up to 7 percent if the circumstances above are right when you sell your house.
In some places, having a new pool at home could increase your annual property taxes, although it will not necessarily add up to the overall selling price of your property. For this reason, you should try to keep the total building cost to about 10 to 15 percent of the overall cost you spent for your house because there is no sense in investing too much for an amenity that will not pay you back that much.
How Much Value Does a Finished Basement Add to Your Home?
Whether you are thinking of adding an extra bedroom, a workout room or a theater, having a basement will give you lots of options that otherwise would not have, unless you wanted to include an above ground addition into your home, which is usually much more expensive.
But it is important to recognize that you might not actually get each and every dollar you spent back when the time comes that you sell your home. Basements are usually evaluated differently than those rooms above ground, and this is something worth considering if you are thinking about remodeling your basement.
If the appraisers will consider the value of a home, they will normally need to make an apple to apple comparison and this means that having a living space above ground will be valued separately from that space below ground. The space above ground will normally cost more. This makes sense since the cost of having a finished basement space is usually much cheaper to add as compared to an above grade living room.
You will find several estimates in terms of the value of basements, which range from 50 to 70 percent of the overall above ground value. Although these estimates are very useful in getting an idea on how much a finished basement will be worth, it would be best to talk to professionals working within your local area in order to get a clear picture of how much you could get out of your basement renovation.
How Much Value Does a Bathroom Add?
Yes, having a new bathroom could increase the value of your home, but it will not recoup its overall cost once the home is sold. The cost of a new bathroom will greatly vary depending on the materials, labor, as well as the overall cost.
Just like with any expensive home improvement, new bathrooms do not usually return their full cost during the selling time of the property. According to some home experts, the return of investment of a new bathroom is around 60 percent of its overall cost during sale time.
The cost that can be recouped will also vary per region. For instance, in the West, homeowners could recapture up to 67 percent of the overall cost, but for those in the East, it’s only about 47.7 percent.
How Much Value Does a Garage Add?
A basic attached garage is said to cost around $20,000. Although this is a pretty solid sum of money, if you consider that the garage could bump up the overall value of your home, investing on this definitely makes a lot of financial sense. You will see lots of your investments back when you start selling your house. You could even earn back the investment you have made, and even more.
Remember that a lack of garage could ruin the entire selling experience. This is especially true if you live in a suburban space. While it is great to have a parking pad, a garage is definitely a must have for homes that are in the suburbs. Several of those who live in suburban homes that do not have garage often have their houses in the market for several months and even years beyond when they decide to sell.
There are some stories about homeowners investing a few thousands of dollars for a new garage only to find that it has actually boosted the overall value of their property up to three times the overall amount they have spent for the garage. Thus, do not ever consider your new garage as expense. Instead, consider this is as an investment where you just temporarily placed your money.
How Much Value Does a New Roof Add?
According to a survey, having a new roof could increase the resale value of a home by up to $12,000 on average. The survey has also revealed that those homeowners who got a new roof installed could expect to recover an average of 62.9 percent on the installation cost by increased home value. Thus, this survey will place new roofing on top of bathroom addition in terms of the return on investment.
And although a new roof indeed will give you a favorable ROI, it is important that you also take time to choose the right roofing to install. Look for a roofing contractor that you can trust in order for the job to be completed successfully. Do not ever sacrifice the quality for the price.
Home Energy Efficiency Improvements
Improving the energy efficiency of your home may not only make you save electricity, it can also help increase the value of your home, as these things are essentially upgrades on your home. Here’s a list of different things you can consider.
- Seal your home
If you’re feeling the air move in your home, and there seems to be a significant draught, have a pro come in and check out where the house needs to be further insulated.
- Consider replacing the water heater.
If you have a very old water heater, it may be time to replace it with something that is significantly more energy efficient and will thus save you money too on electricity.
- Revisit your appliances.
If you have 20 year old appliances in your home, chances are they are using so much electricity that installing new ones would pay for themselves in savings in the matter of a couple of years. Some of the appliances that use a lot of electricity are the refrigerator and washing machine.
- Electricity saving solutions.
Below is a list of things to consider in your home that are all cheap and will help you save on electricity.
Picture from Mother Earth News
Now you should know more about which home upgrades that pay off, and you can even get more home improvement ideas with this video.