Every year, homeowners spend money repairing and renovating their homes for added comfort, space, increase its value, or all of the above. Not all home improvement projects will add value, however.
Before you start on a home improvement project, an important consideration is its return on investment. The most valuable home improvements are those that increase your home’s worth in respect to the amount you spent on them.
Investing in Your Home
Many remodeling projects do add value to your home and improve your family’s quality of life. By working on these projects now, you can enjoy the benefits and updates for years to come, while knowing that your home is worth more on the market.
1. Exterior Improvements
When it's time to sell your house, one of the most important things is to make a good first impression. A prospective homebuyer is going to see the outside of your house first. It is for this reason that curb appeal is so important. There are a few exterior projects that can boost your home’s appearance.
Replacing an entry door with a steel door is a great option because they are low maintenance, cold-blocking, and energy efficient. They can save you money in utility bills and are extremely durable and long-lasting.
You can also increase your curb appeal by installing or replacing existing siding. James Hardie Fiber Cement siding is a great product that looks beautiful and lasts for decades. It will transform the exterior of your house.
It may not be the most exciting upgrade, but replacing your current garage door with an upgraded model will yield you 98.3 percent in recouped costs . Today’s best garage doors are those built with durable materials like steel, wood composites, and aluminum, and that have high-performance additions like energy-saving glazing and insulation.
Wood is a classic choice for garage doors and is aesthetically pleasing, though it’s not quite as weather resistant. If you want a wood garage door, get the best of both worlds by looking into fiberglass or wood composite, which can have the same appearance as wood without the drawbacks .
2. Kitchen Remodel
Most people consider the kitchen to be the heart of the home. If your kitchen is outdated, then it is time for an upgrade. The style, size, and quality of the kitchen should fit in with the rest of your home. Updates in this room pay off; however, smaller, more manageable kitchen remodeling projects will provide a bigger payoff.
Cosmetic upgrades like painting the walls, molding, trim, and ceiling are economical improvements. Opt for kitchen cabinet resurfacing and new hardware instead of a costly cabinet replacement. Replacing old appliances with energy-efficient models is another selling point that will help save on energy costs and attract potential buyers. Energy Star-rated appliances are also better for the environment.
3. Bathroom Addition
A bathroom is an essential part of any home but is often cramped and unaccommodating. Updating this space or adding a new bathroom is one of the best ways to add value to your home.
You want your bathroom to be both functional and stylish. Plumbing, structural, and electrical features must be addressed. Decide if you need a new layout, more room, or just an update to the current design.
Don’t forget about updated finishes and features. The type of bathtub, shower, storage, lighting, and fixtures can all play a part in how much value a new bathroom will add to your home.
4. Adding Energy-Efficient Windows
Home efficiency is an important factor for new and existing homeowners. If the seals on your windows are letting air in or out, energy costs can skyrocket. New windows deliver added benefits like improved energy efficiency, noise reduction, and UV light protection to prevent fading.
Old, drafty single-pane windows make the indoor temperatures hard to control and are a major turn-off to would-be home buyers. Energy Star-rated windows can save homeowners a lot in heating and cooling costs. You may also receive a green energy tax credit of 10% for a window upgrade.
5. Deck Addition
Outdoor living spaces have become more desirable, especially since more people are staying home. You can enjoy your outdoor space more and it will make your deck and backyard more appealing to prospective buyers. Some homeowners recoup 65%-90% of their investment by adding a deck to their home.
Trusted Home Improvement Professionals
Homeowners and buyers want a safe, comfortable, and appealing home. If your home is not up to par, consider tackling some home improvement projects with the help of RT Construction. Our team of home building experts can design the home of your dreams. Contact us today for a free consultation.