Home Projects You Should Invest In
You sit and wonder what home project you should invest in. Home improvement shows on HGTV and TLC, Pinterest boards showing DIY projects, and classes being advertised in real estate investing have caused Americans to spend a record high on their homes in 2018 alone. No matter the reason, you have to know which projects in your home are worth investing in.
The Outside and Curb Appeal
Remember, people judge a book by its cover! One home project you should invest in is the outside of your home. This is the first thing people see when they come to your house. The outside can influence the value of your home. Having a beautiful and welcoming front yard is important in the eyes of a buyer.
Also, your home’s siding and roof get a lot of wear damage from the elements. It’s important to keep the outside of your home well maintained. Fixing any damage is a smart venture for a homeowner and when it comes to the roof, there are some contractors that will check for storm damage and work with your insurance to help save some money.
One thing most people forget is the front door, but it is one of the things people first glance upon. The front door and garage door add to the curb appeal. By upgrading the front door and garage, you can recoup up to 90% of the cost in increased value.
Insulation and Additional Square Footage
Adding additional square footage by finishing a basement, or adding a room in the attic, or enclosing a Florida room are all great home projects you should invest in. Appraisers look at square footage, bathrooms, and kitchens when appraising a home. Producing this extra space that does not exist is a pretty big investment, but it may lead to larger profits when selling. And if you are in your forever home, the extra space gives you more opportunities with your home.
Adding square footage means adding insulation which is a very good investment. Insulations keep the temperatures in the household steady throughout the seasons, which can save about 20% on future heating and cooling costs. And who does not just LOVE saving money?
Kitchen and Bathrooms are home projects you should invest in.
Have you heard that the heart of your home is the kitchen? It’s true. It’s the one room where everyone gathers and it is the most popular to remodel. A kitchen can have a full-blown remodeling which can be expensive, or, simple remodeling tactics like painting cabinets and changing doors and hardware and replacing the countertop can drastically modernize the kitchen. Also, you MUST replace your appliances. Just like adding insulation, these newer appliances will help out on the electric bill with about 30% in savings. Remember, the kitchen is the most inspected rooms by buyers.
Now, the bathroom is the second most inspected room. A bathroom not remodeled can really date a home. This area is typically scrutinized and judged based on proper hygiene and adequate spacing. That being said, putting in new fixtures such as toilets and showers, and updating the tiles and faucets, are sure ways to clean up the room. Some larger scale bathroom renovations include adding a “half bath” somewhere else in the house. This is a definite key selling point for buyers who want more than just one bathroom.
Last, but not least, Flooring and Paint
A coat of paint can go a looooong way. It has the potential to upscale and modernizes a room, and if choosing the right colors, causing it to look bigger. So what are the best colors to pick? Neutral colors. Opting for a basic color scheme will also allow you to decorate as you wish.
The last home project you definitely should invest in is your flooring. New hardwood or tile floors can increase a home’s sale’s price by 2.5%. Also, buyers in today’s age don’t just want new flooring, they expect it. And if you do not have it, they will ask for it in the offer.