01 Mar Home Improvement Projects That Will Improve Your Property Value(Last Updated On: October 11, 2018)
Homeowners constantly seek projects and renovations that reflect their style, while improving their property value. However, not all home improvement projects are equal. For example, certain large, upscale projects, such as a complete kitchen remodel fail to provide an equivalent increase in property value. Conversely, some smaller projects, like a new front door return significant value.
So where should homeowners spend their time and money?
“If you were offered $100,000, no strings attached, what home improvements would you do? Chances are, a long laundry list of changes come to mind, from refinishing the hardwood floors to adding a new bathroom. Some home improvements, however, are more likely to increase your home’s value than others. Although you shouldn’t think of your home as an investment, with limited home improvement funds, it’s good to consider whether a project has a decent return on investment.”
Best Value-Add Home Improvement Projects
For all homeowners, it is important to know the value of various home improvement projects.
As a result, please find some of the best home improvement projects based on increasing your property value.
The front door is the gateway to your home. Entry doors are the first and last thing guests see when they come and go, so keeping the front door in good condition helps improve the overall value of your home.
“To launch your home makeover, start at the front door; repaint in a color that contrasts with the trim. Give the front of your home a good cleaning and replace any dated house numbers, light fixtures and handle sets. Stain or paint porches or steps to make the house appear more polished.”
Additionally, garage doors also showcase your home. Plus, garage doors open and close everyday, all day. Over time, the wear and tear on garage doors adds up and they start to break down. Luckily, there are plenty of great ideas when looking to replace garage doors that add a lot of value.
Enhance the Exterior
The weather is a powerful thing and home siding bears the brunt of snow, wind and rain all year long. Home improvement projects that replace home siding offer a great way to maintain the long term value of your home.
As Family Horizons Credit Union notes that lasting impact on your property value.
“A new garage door, paint, vinyl siding or an updated entry can make a huge difference to the appearance of your home. And the average resale can be up to 95 percent. Additional updates can include lighting, pergolas, columns and fencing.”
Plus, your backyard provides plenty of opportunities for increasing your property value.
“Seating can be added to your backyard in a variety of ways, from a beautiful set of table and chairs to a backyard gazebo. Gazebos can be a great addition to your outdoor space and a rather easy DIY idea. They are attractive and have a variety of design and utility merits. Seating areas can be used for dining, socializing or simply relaxing. For extra appeal, add a beautiful winding path of decorated gravel or marble that leads to your seating area.”
As a result, consider adding a deck to your home because homes are a great way to entertain friends and family. In the summer, then a great backyard provides a fantastic place to hold cookouts and adding a deck is the perfect way to host more people. Deck additions are a fantastic home improvement project.
Although major remodels offer a great upgrade, they tend to lack recouping their entire investment. The main reason remains taste and style. Not every open kitchen suits everyone’s sense of style. However, minor remodels (which cost less money) tend to add more value (based on their cost).
Minor Kitchen Remodel
Food is another gateway to the soul. And kitchens provide the backdrop for families gathering around meals to share stories. Although kitchen remodels span the price range, minor improvements can make a big impact on your kitchen and home value. On average, these remodels recoup about 79% of their cost.
Another great unused space in many homes is the basement. Homeowners can find fantastic value in basement remodels. Plus, this home improvement project may spark some creative inspirations for other ideas. On average, these remodels recoup about 72% of their cost because they provide extra living space.
“Whether you want an additional space or a personal man cave, turning the basement into a finished living area allows you to get more use out of your home.”
Providing repairs or replacing the exterior of homes typically adds value because they suffer wear from the elements. The roof is another such part of the home that may need a replacement. Fortunately for homeowners, roof replacements are a value-add home improvement project. On average, roof replacements recoup about 71% of their cost.
Expert Home Improvement Tips & Tricks
As a homeowner, you know that work around the house never ends. Beside projects aiming to increase your property value, there is always routine maintenance. Something always needs to be completed. Therefore, it helps to have a few tricks up your sleeve.
Stick To Your Budget
First and foremost, many home improvement projects get a bad wrap because of costs. Avoid this major pitfall by staying within your means. As the home experts at HomeAdvisor share, if you stick to your budget, your rate of success will increase.
“A thorough budget is a critical part of any successful remodel. Be sure your budget includes products, materials, labor and an extra cushion for unforeseen costs. Presenting contractors with your own established budget will help you communicate your goals and find the right fit for your project.”
Find a Trusted Contractor
If anyone knows something about home improvement projects, it is Martha Stewart, who shares tips on finding reliable contractors.
“Consult with friends, coworkers, and people in your neighborhood who have completed work that you like. You should also check with your local building department, the Better Business Bureau, and other building associations in your state and county. Make sure you obtain a Certificate of Insurance from your contractor and that you sign a defined contract with your contractor before you start any work.”
Another good suggestion from Reader’s Digest is watch out for a jack-of-all trades. It is very difficult to be know everything about everything. Typically, folks that can do it all, have a hard time excelling at any individual project.
“If your handyperson says they can “do it all,” watch out; electrical, plumbing and structural fixes require a licensed professional. A sure sign that contractors can be trusted is if they tell you they’re not the best person to do a particular job and recommend someone else instead.”
Start with the Basics
Home maintenance means taking preventative measures to avoid major issues. In addition to annual protection plans, which inspect your major home systems each year, start with the basics.
Home Energy Audits Identify Wasted Money
At SolvIt, we partner with organizations, such as GreenHomes America and EnergizeCT, to help homeowners save money (and energy)! Any new or existing homeowner should conduct an audit because they identify major issues (if any). As a result, you will save money (each month) on your utility bills!
But don’t just take our word for it:
“The best way to get your home operating at its maximum efficiency is to hire a professional BPI certified energy rater to evaluate your spaces. This person will conduct what’s called an “energy audit” and he or she will test your home for energy losses and safety issues, and generate a detailed report highlighting what your home’s issues are. With a report in hand you can easily target and prioritize exactly what you need to do, and what you can afford to do.”
The heating and cooling system lies at the heart of home comfort. Particularly in New England, where we are susceptible to hot summers and cold winters, we need efficient HVAC systems. Therefore, protect your home and family with an annual tune-up, which spots minor issues before they become major replacements.
“Stay ahead of the curve with a yearly furnace inspection. It costs less than $100 and lends longer life to your HVAC. Keep a record of your tune-ups to give to potential buyers.
In-Home Water Quality
Typically, water is not included with home improvements and maintenance. However, we drink, clean and bath with our home water without checking its quality. As a result, some towns and regions rely on contaminated water because they do not test their homes. Plus, hard water filled with minerals means wasted water as well.
“Mineral salts can build up in faucet heads, aerators and showerheads, leading to reduced water flow. The way to correct this problem is to take a plastic baggie full of white vinegar and tie it up around the showerhead or drop your aerators in it. The vinegar will melt all the mineral salts causing the clog.”
SolvIt offers free in-home water testing. If you are not sure about your water quality, then schedule a test today! After all, you’ll get a great ROI on a free test.
At SolvIt, we aim to help homeowners protect their homes and families. Homes provide protection and allow families to grow, so we’d like to see everyone continue to find value in all home-related projects.