If you’re looking to upgrade your home, stay away from improvements that won’t increase your property’s value. Steer clear of aquariums and built-in electronics to avoid asking yourself, “What was I thinking?”. Instead, browse this list and stick to upgrades that’ll offer a return on your money.
The Kitchen is Always King
Buyers of all kinds have long fixated over kitchens, but they hold a particular sway over first-time homeowners. If you’re looking increase your home’s worth, start with renovating the kitchen. You don’t need to strip your kitchen down to studs to achieve a modern upgrade; for as little as $5,000, you should be able to add a new suite of appliances, countertops, and flooring. Finish this revitalized, coordinated look with a fresh coat of paint and updated hardware. Remember that stainless steel is a value-adding buzzword.
It’s true, a bathroom remodel will be a costly home upgrade. But if this upgrade is within your budget, it boasts an average of 102% return at the time of resale. Go big by replacing the tub, tile, floor, toilet, and vanity fixtures, or stay small with minor upgrades. Re-caulking is a simple DIY project, and you can avoid purchasing a new bathtub by simply re-glazing it for a like-new finish. Fix damaged walls with a spray-on texture for quick coverage. Pro tip: replacing old shower doors or removing them altogether will give your bathroom the illusion of space.
Roughly half the homes in the United States are uninsulated, and while it’s not as glamorous as a chef’s kitchen or spa bathroom, attic insulation will seriously add to your home’s worth. Throwing some fiber glass into your attic walls won’t break the bank, and it could cut your heating bill in half. When it’s time to sell your home, you’ll see your money returned to you. Attic insulation is the only home renovation on the 2016 Cost vs. Value Report that redeems more money than you spend.
If working with insulation doesn’t sound so fun, try upgrading your home with other energy efficient means. An average of 43% of home utility bills goes to heating and cooling – combine the proper maintenance with the right upgrades to reduce your bill by 20% to 50%. Seal up all ducts and any air leaks to regulate temperature and replace that shabby HVAC system. For those living in deserts or warmer climates, seriously consider making the switch to solar. Hard money lenders in Tucson can help give you the capital you need to start this renovation that will pay for itself over time. Plus, the federal solar tax credit allows you to deduct 30% of the cost of installing a solar energy system from your federal taxes.
Add to your home’s worth by upping its curb appeal. If you’re not sure where to start with landscaping, refer your local nursery or garden center for some free advice. If you have the funds, you can also hire a landscaping design consultant. Be sure to find a plant that adds an eye-catching splash of color, and for maximum impact, use plants with varied heights. Include a walkway for a charming focal point, and consider rolling a sealant over flagrant stones for a permanent wet look to enhance color.
If landscaping seems like too much cost or maintenance, you can give your home a facelift with alternative exterior upgrades. Increase your home’s value by taking care of that vinyl siding, updating your entryway, and applying new paint. If your house was painted prior to 1978, be sure to test for lead before sanding or scraping. Utilize paint color cards to take the guesswork out of choosing appropriate combinations for doors, trim, and siding. To make your home more modern, remove those old awnings from windows and doors. You can give a bare porch a dramatic makeover by adding a pergola and columns. Be sure to purchase load-bearing types, or check salvage yards for unique, historic columns.
Whether you’re looking to sell or simply add value to your property, be choosy with your upgrades. To get the most bang out of your renovation buck, stick to these remodels that are sure to offer a return on your investment.