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Home Improvements That Will Add The Most Value To Your Home
Spring is in the air, tax refund checks are starting to arrive, and homeowners are starting to think about remodeling their homes! If you are planning on selling or just making your house more comfortable, you will want to make sure you are getting the most out of your investment. What many homeowners are not aware of is that for each dollar you spend on home improvements, your property value will go up. There are several factors to consider when renovating with home improvements.
The upgrading that you do on your home is put into three different categories: major, mid-range, and minor. The cost of the improvements will depend on which category the upgrading is placed in. The beneficial thing about home improvements is that you can do simple upgrades that are affordable and still raise the value of your home. For minor repairs, consider adding a fresh coat of paint to some of the rooms of your house. If you plan on selling in the near future, choose a color that is neutral to appeal to the future buyers. Upgrading the carpet or tile in certain areas of the home is another minor improvement. Choose a thick padding to go under the carpet that will last for more than a few years. Ceramic tile is also best and will add more value because it can withstand more damage.
Mid-range and major home improvement changes are somewhat alike. Home improvement repairs that fall under the mid-range category include upgrading the bathroom, finishing the basement, and installing new windows. Upgrading the bathroom can also go under minor repairs if you are simply adding new shower doors. However, adding a new tub entirely, or new sinks and a toilet can be more time consuming and costly. Major repairs would include building an additional room onto the side of the house, attaching a wooden deck, or installing a pool. Keep in mind that a pool has a large amount of upkeep, and can often cost more to maintain in the long run.
If you are making home improvement changes in order to sell your house, then you might want to consider a major remodeling project. In other words, if your house is outdated with fixtures dating back years ago, as well as flooring that is 10+ years old, then you will need to change these things in order to raise the value. Also, any time you increase the square footage of your home, you are raising the value a great deal higher. You can do this in numerous ways, such as building on to your garage, adding a sun porch, or attaching a second bedroom onto the side of the house. That being said, you don't always have to add on to add space. Look at areas like your basement, attic, and garage for unused space that can be converted into livable space.
If you are planning on making any major improvements, it is a good idea to consider materials and resources that will make your home more energy efficient. While energy efficient materials may be more costly up front, the savings you will see in decreased utility costs is often worth it (not to mention the increased comfort level). By making simple energy efficient improvements, you can also save a great deal of money. In 2009, home owners who made improvements with energy efficiency in mind cut their power bills in half. For example, you can install new windows, update your insulation, and add ceiling fans. Experts also suggest that you install a security system if you do not already have one. This will also add extra value to your home because of the security measure. Most importantly, consider how enjoyable your home will be above how high the value will rise.
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