Homeowners are always wondering about the best investments they can make to increase the value of their property. The idea is to think small with investing money into home repairs.
You can add substantial value to your home without spending a fortune. Remodeling costs can get expensive. A smart decision is to consider the financial impact of remodeling and whether you can actually recover the money you invested.
Upgrades and home remodeling will help you when your home goes into the real estate market for resale. While you’re looking for ideas on how to increase the value of your home, remember that the kitchen and bathroom are the two most expensive upgrades you can make when it comes to remodeling projects.
As yourself: Do the walls need repainting? Will more mirrors make my home look spacious? How does my flooring look? Do I need new kitchen cabinets?
Curb Appeal Can Makes a Difference
The street-view of your home is the first important impression people get.
A beautifully landscaped front yard will attract attention. Keeping the surrounding area outside of your home in the best condition with regular property maintenance will make all the difference.
Here are some home upkeep tasks:
- Keeping shrubs and trees around your home looking neat and tidy will always make a great first impression and show property buyers that you take care of your home which will make it easier to sell it at a higher price.
- Your lawn needs to be cared for to prevent brown spots from appearing.
- Proper lawn maintenance can facilitate abundant grass growth.
- Garden spaces with lots of flowers give a great first impressions.
- Make sure weeds are removed.
- Add more mulch to the garden when and where needed.
- The driveway might have oil stains from vehicles. The driveway needs to be cleaned periodically. Have that area pressure washed by a company when you don’t know how or have the system to do the job.
- The roof and siding should be clean, and damage-free.
- Make sure there are no leaks – inspect your basement and inspect your attic.
Remember that new or custom-built homes don’t have much landscaping done to begin with so you’ll have to start from scratch. Click here to see how to build your garden from scratch if you’ve just moved into a new house.
Give Your Home Interior a Fresh Coat of Paint
One of the first things people notice when they walk into a home is the colour of your walls. A new coat of paint can transform any room in the home into a welcoming living space.
Painting the interior of your home is one of the most cost-effective remodeling projects a homeowner can do – or have done – to improve the appearance of their home.
If you decide to paint by yourself, you’ll find that the paint and materials cost can be very minimal comparing to hiring a painting professional. Hiring professional painters to complete the project easily drives up that cost for people that can’t paint.
Here are some ideas:
A new coat of paint with a beautiful border can make any room in your home look new. A popular use of borders is applying them at the top of the walls where it meets the ceiling.
Another idea is to separate the lower portion of the walls in a room with a wallpaper border or wood molding.
The lower portion of the walls can be painted in a darker colour with the higher sections in a lighter colour.
Before you paint your walls make sure you repair all the small imperfections so the final coat of will it’s best.
What Can I Do with My Kitchen?
Cabinets are the first place to start. You should definitely take a look at your cabinets when you’re thinking about upgrading the look of your home.
Consider removing them to reface the surfaces with paint and install all new hardware. Resurfacing will be the cheapest alternative to buying new kitchen cabinets.
Be aware that the installation of new cabinets can cost a ton of money. You would be surprised at how much difference it can make to resurface the cabinets versus purchasing new ones. It really is hard to tell the difference between new cabinets or repainting the original ones when the job is performed correctly.
Counter tops are another issue. You will have to spend money to replace old counter tops because it takes someone with expertise to design and install new ones. You can have the original ones repaired when you want to save money. The best solution is to have the original counter tops replaced with new ones.
New flooring in the kitchen will improve the cosmetic appeal of the area. Have a professional replace the flooring unless you have the skill to do it on your own. You can choose whether you want wood or a linoleum covering. Other choices that can cost more are porcelain and ceramic flooring.
Your major expenses in a kitchen have to do with appliances. Do you need a new refrigerator or stove? These are serious money investment issues to consider when selling or planning on staying in the home for the immediate future.
Remember to keep home remodeling projects under a budget when you’re trying to update your home. Whatever amounts you spend will increase the value of the home in the real estate market.
Doing any bathroom remodeling will cost money. A new bathtub remodel could mean installing a whirlpool tub. Plumbing rerouting may be necessary to install the unit. You may have to replace the old water heater to supply the demand for hot water to a whirlpool unit.
A cheaper alternative is to replace the original tub with a wall surround unit/tub combination. Many home improvement stores carry these in stock.
Twin sinks installed into a cabinet is an excellent idea to update an older bath. Make sure you have adequate space inside the bathroom for the double sink installation. You will want extra mirrors for the walls with a double sink. Install new flooring inside the bath before the remodel.
A new commode should be installed to complete the project. A bathroom remodel will increase the value of the house when listed in the real estate market.
Thinking about adding more living space to an existing structure will cost serious money too. Many people think about doing a project will back out after learning about the costs.
You may add on to compete with new houses in your neighbourhood. Consider whether the investment is something you can recover whenever deciding to sell.
The average cost of a room addition can range from $10,000 up to $100,000. The amount depends on the structure you want to build. An additional bedroom with another bathroom could be more than the amount stated.
A porch will never cost the amounts mentioned above. A double garage is another high-end project that can cost a lot of money.
You need to consider how long you plan to remain in your current home when remodeling comes to mind. Do you plan to live there until old age? Then updating might be right for you. Think about the age of your current home. Will major remodeling projects increase value of an older home?
Are you remodeling to find new houses around your area that you’re interested in? Some homes remain on the market for years until they sell. Anything you do to your current home will probably increase the value. The problem is selling it at an increased price to recover the money invested for remodeling.
The blessing of owning your own home is something special. You can place your current home for sale to search for new houses around the area. Invest money in your current home wisely to increase value. You may never recover remodeling investments with so many homes for sale on the market today. The main point with any remodeling project is your family’s satisfaction with the results.