As many homeowners know, it is an ongoing process to make improvements on your house to make it look nicer and more comfortable to live in. While a lot of home improvement projects do not necessarily add value to the resale price of your home, we compiled some of the ones that actually do whilst increasing the quality of life for your family. So the question is ‘which home improvement projects should you take on?’
Kitchen Pays Off!
Kitchen is considered to be the heart of a home and any upgrade you make in this room will increase your home’s overall value. In fact, HGTV says that you can recover up to 120% of your investment on a kitchen remodelling! The only caveat is that you need to be careful with the type of upgrade you are making. Home improvement experts suggest that if you make your kitchen much fancier than the rest of your house, you will have a hard time during the resale process. The idea is that your home as a whole needs to have a balanced feel and that the different pieces of the house fit in together in harmony.
Another great way to contribute to the recovery of your remodelling costs is to invest in energy-efficient appliances. This will not only save you money, but it will also be a selling point towards the potential buyers who might be interested in your home.
2 is better than 1
When it comes to the number of bathrooms in a house, less is definitely not more. If you only have one bathroom in your home, try to look into ways to add another one. When the time comes for you to put your house on the market, just imagine advertising it as a 2-bathroom as opposed to just one. It will make a significant difference in the asking price.
Build a Deck
Adding a deck to your home is probably one of the best projects you can take on. It is not going to be a cheap one but it is an investment that will increase the value of your home drastically when you decide to sell it. According to HGTV, you are likely to recover up to 90% of the investment when you add a deck to your house. Not to mention the enjoyment you will get out of it for as long as you live there!
Energy Efficient Windows & Doors
Many homeowners are reluctant to take on insulation projects for the obvious reason that it is not necessarily beautifying your home like a new deck or a new kitchen would. However, if you are thinking about resale value, energy efficient insulation is one of the most important things that you can invest in. This will not only save you about $2000 a year in energy bills, but it will also make your house more appealing to potential buyers, as the energy efficiency of a home goes into the inspector’s report.
Upgrading your home is an investment that you make into your current quality of life, as well as into the value of your house when you decide to put it on the market. Depending on the project you decide to take on, it might be labour and capital intensive, but the bottom line is that you are improving your life standards and increasing the resale price of your house. Even the most basic updates such as keeping the paint fresh, fixing leaky roofs and replacing rotten woods will extend the lifespan of your property and keep your home from deteriorating over time. Think about buying and selling a used car. If you take good care of your car with timely oil changes and routine maintenance, you will sell it for a much better price than you would otherwise. And as a buyer, you will always feel more comfortable buying a used car that is well taken care of with all the maintenance records made available to you.