Conquering home improvement projects can make your house more liveable, but home improvement is also a great way to add value to your property’s price tag. If you ever intend to sell your home, boosting its equity will assure a bigger check.
Get the best ROI (return on investment) by researching which upgrades make the most impact on your equity. Take the time now to read through a brief overview, featuring a handful of home improvements, that will boost your equity by more than a handful of cash.
Take it to the kitchen
The kitchen is the most trafficked room in your home. Anything you invest in upgrading your kitchen (within reason) is going to bring back close to a hundred percent of your investment.
However, you have to consider the upgrade. Be reasonable. Don’t add gold trimming to laminate countertops. Research which kitchen upgrades make the most difference, and consider what you want to do from there.
Add square footage when possible
If your home has an unfinished basement or attic space, finishing the space could become a lucrative investment. Anytime you add liveable square footage to your floor plan you add value to your home.
The cost of drywall, flooring, and some paint is far less than you’ll get from listing your home as a three-bedroom instead of a two-bedroom. You’ll also have more room for yourself and your family while you are living in your home.
Spruce up the exterior
The exterior of your home matters too. It’s worth the investment to spend money maintaining your landscaping. You may want to add an outdoor living space as well.
While you spend time living in your home, make small upgrades here and there. You may also consider getting a fresh paint job on the exterior of your home every 5-10 years to keep it looking as good as new.
Upgrading energy efficiency
Anytime you can upgrade your home’s energy efficiency, you have an investment worth making. Upgrade your home’s HVAC unit, the appliances in the kitchen, your washer and dryer, and the windows and doors sealing your home can be upgraded.
When your home is more energy-efficient, you’ll save money while living there. When you sell, you’ll capitalize further on your efficiency investment.
Minor bathroom upgrades are lucrative
You don’t have to completely overhaul your bathrooms to make a lucrative investment. Try doing a minor upgrade yourself. There are several simple jobs in the bathroom that you and your family can handle without calling in the pros.
Recaulk your bathtub. Replace the vanity. Slap a fresh coat of paint on the room, and call it done. You’ll see just how much a simple upgrade can change the aesthetic of the room.