5 Improvement Projects that Add Value to Your Home
Home improvements offer you opportunities to personalize your home-sweet-home. Choose the projects wisely, and you can expect to recoup much of your costs when it’s time to pull up roots and move to a new place. Happily, you don’t have to spend a bundle to increase the value of your property. The following five improvement projects deliver a great return on your investment, and they’ll make your home a more enjoyable, attractive and secure place to inhabit as well.
1. Insulate the Attic
It might not be the most glamorous improvement project you can undertake, but according the most recent Cost vs. Value Report by the remodeling industry’s leading publication, adding fiberglass insulation to your attic offers you a nearly 117 percent return on your investment. That kind of payback puts insulation top of the list if you’re upgrading your home for resale. Even if you’re planning to stay put, the lower energy bills that a well-insulated attic offers makes it a cost-effective project.
2. Spruce Up the Kitchen
Most potential homebuyers head straight for the kitchen when viewing a property, which is why the experts at the financial publisher Bankrate recommend making cosmetic improvements that give the heart of your home an updated look. Low-cost projects to consider include replacing the cabinet hardware, lighting or kitchen faucet. If you’re ready to spend more and resurface the countertops, cabinets and flooring, you can expect to recover around 83 percent of your expenses when you sell your home.
3. Upgrade the Front Door
Every homeowner should consider replacing an old front door with a steel entry door. For the last several years, this home improvement project has delivered an ROI of at least 91 percent. Homebuyers love the added security that a steel door offers, and the new finishes and colors available mean that you won’t have to sacrifice style to enjoy the extra level of safety.
4. Enhance Your Curb Appeal
It’s hard to overstate the importance of making a great first impression when it comes to attracting future homebuyers. Overgrown plants, peeling paint or shoddy siding can have such a negative effect on potential buyers that they might refuse to view the home’s interior. In addition to making sure the front landscape is neat as a pin, projects that improve curb appeal and offer a great ROI include installing an upscale garage door and replacing the siding with stone veneer.
5. Keep Up with the Neighbors
The value of any improvement project is influenced by other homes in the neighborhood. For example, adding a wood deck can offer a good return on your investment if you live in a community where they’re a common outdoor amenity. In a neighborhood that appeals to families, converting a den into a bedroom can be a smart move while turning a bedroom into a grand master bath may actually lower the property’s resale value. When planning home improvement projects, it pays to keep property values in the surrounding area in mind.
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