When it comes to home improvement projects, they are not all created equal. Some will add value to your home, while others really only serve to maintain it and prevent the value from falling.
Here is a rundown of improvements that are worth investing in, as well as the ones that you have to invest in.
Take Care of the Roof
At some point, your roof will have to be replaced. While this is normal maintenance, it’s also a chance to upgrade the house.
Architectural shingles are fresh and current, so you should make the switch to them if you have asphalt shingles. However, there is also something to be said for turning to metal roofs. Appropriate for cold and warm climates, metal roofs are energy efficient and more durable than asphalt.
This change will not immediately bump the value of your house up, but it will pay for itself over time through lower utility bills and a longer life.
Kitchens and Bathrooms
It’s been said time and again that the smartest renovations are kitchens and bathrooms. You can plan to spend well over $10,000 for a kitchen, and bathrooms run a close second at more than $7,000. However, these renovations will actually increase the value of your home.
Most experts estimate that you will recoup up to 90 percent of your cost when you sell the home. Take care to keep the renovations consistent with the neighborhood because the increase in home value will be limited by the value of other homes around you.
Claim More Floor Space by Finishing the Basement
When it comes to basement renovations, they range from basic to stunning. You can toss carpet on the floor and paint the walls for a quick and easy playroom. Alternatively, you can build beautiful interior walls and finish the ceiling with sheetrock for a magnificent home entertainment room.
Keep in mind that the floor space in the basement will only count if the ceiling is finished. If you want to add value to the home, the open ceiling must be enclosed with sheetrock, drop panels or another appropriate surface.
Once the basement is finished, you can expect your home value to rise by several thousand dollars, and the property will be attractive to more buyers.
Doors and Windows
If you are tired of watching your energy bills rise because of older doors and windows, then you are wise to invest in energy efficient options.
Most people believe that making this investment will increase the value of their home. This isn’t necessarily the case. What new doors and windows really do is maintain the value of your property.
If you try to sell a home with old windows. Then you can bet that potential buyers will offer you lower bids as a result. You can actually boost the value of your home by choosing new windows and doors that are an upgrade.
Invest in metal security doors and consider upgrading to bay and bow windows. If you are hoping to watch your property value actually rise.
When it comes to improvements around the house, they don’t all repay you with higher property values. However, there are several that will pay for themselves through lower utility bills.
You will get the most bang for your buck with kitchen and bathroom remodels. But there is also value in finishing the basement and investing in an upgraded roof.
Regardless of the changes you make, choose items that you will love and enjoy. The point of any renovation is to make the house more pleasurable for you. A higher selling price down the road is just a nice bonus.