Why These Improvements are Good for Home Value
It doesn’t seem to matter if the real estate market is soaring or slumping, home improvement projects are always a good idea. But not all projects are created equal or have the same impact on the value of your home. While any home improvement that makes you home more comfortable or livable for you and your family is a good idea, projects that also increase the value of your home are the ones you need to concentrate on.
Some of these improvements might be so obvious we don’t need to mention them, such as a water heater replacement cost that more than pays for itself in value and comfort. Adding a new roof may make your home a more snug and dry place, but it doesn’t always pay off in increased value.
We discovered this after replacing our roof and were quite amazed. So that your home improvement projects don’t bring you an unwelcome surprise, here are some projects we researched and found are well worth investing in for your home and its value.
Kitchens and Baths
Okay, we know that these two rooms are always first on the list of improvements that bring value, but even here not all projects yield the same results. While painting the rooms, upgrading the fixtures and maybe even adding some solid new cabinets can be worth the work, not everything is.
If you move that kitchen into a state of the art high tech kitchen, you just may have spent too much. Short of having your own foodie network television show, there are few of us who would make good use of that kind of kitchen. This is why they never add as much value as simple upgrades to good quality counters and cupboards. Think practical in these two rooms and you will be fine.
Reinvent Instead of Add a Room
While many home owners think that adding that bedroom suite to their home is a good investment, the truth is a new addition will only pay you back around 60-80% of what you invested. A better approach is to reinvent a room from what already exists. Look at the basement or attic and see if you can envision it as a finished new bedroom suite or kid’s game room.
Attics are great get away places for teens or parents, so adding some dormers to that roof and a half bath with a small balcony will make it a valuable addition with far less cost. If you want to make it feel fancier you can always refer to it as a “sky parlor”, as the British did back in the day.
Decks and Gardens
The outside of your home is another territory you might want to consider. If you don’t have a deck, adding one is one of the better investments and increases the usability of all of the home. Gardens can be upgraded easily, just take care to not go overboard as you can easily spend far more then you will ever get back in increased value. Beds of perennials and bulbs are easy to do and add value. Trees should be added with caution.
All these projects are easy to do, quick to complete and will give not only an additional value to your home but make it a better place to live right now.