There has been extreme growth in the home renovation sector in the past decade. Homeowners are realizing that improving their homes and rental properties can significantly increase their value. It can also help make your own home more enjoyable, comfortable, and safe to live in, as well as make it more appealing to potential renters.
Here’s a list of seven renovations that can help increase the value of your home:
1. Efficient Heating and Cooling System
A modern, reliable HVAC system, like a high-efficiency “green” model, offers real savings on energy costs that are visible every month, making your property more appealing to potential buyers and renters. You can often benefit from tax credits as well.
2. Replacement Windows and Doors
Replacing your windows and doors is another energy-related home renovation that will deliver real savings on heating and cooling costs. Other potential benefits of new windows and doors include greater safety, ease of use, and a better appearance. Many new models can fit the look of older homes, maintaining historical appeal and value.
3. Insulation
Replacing or adding to your home insulation is a big job, and usually requires significant work to the drywall and plaster, although the good news is that this project doesn’t need to be repeated anytime soon. The result, however, is a home that increases in value thanks to greater thermal efficiency.
4. Landscaping and Hardscaping
Curb appeal is a significant factor in a home’s value, and it doesn’t necessarily cost a lot. Consider adding trees and shrubbery, flower gardens, walkways, and other hardscaping and landscaping features to make your home more appealing from the outside.
5. Modernized Kitchen
A pricey kitchen doesn’t always pay for itself in pure financial terms when you sell your home. What is important, however, is to have modern, high-quality appliances and a clean, flowing layout. While a fancy kitchen may not sell your home on its own, an unattractive, outdated kitchen can significantly reduce appeal and value.
6. Upgraded Bathrooms
Like kitchens, bathrooms should be well planned if you’re renovating to increase the value of your home. Avoid the temptation to personalize it too much to your tastes. Instead, leave your bathrooms spacious, clean, and functional. An inviting master bathroom is a great selling point.
7. Additional Rooms
If you have the space to add an additional bedroom, office, or den, it can add to the value of your home. When looking to purchase a new home, many buyers consider first consider the number of bedrooms. Avoid the temptation to create many tiny rooms, and instead try to keep useful floor space.
If you have the space to add an additional bedroom, office, or den, it can add to the value of your home. When looking to purchase a new home, many buyers consider first consider the number of bedrooms. Avoid the temptation to create many tiny rooms, and instead try to keep useful floor space.
If you want to increase the value of your home, certain renovations might appeal to you — like adding a hot tub, personalized decorations, or custom closet organizers — but be sure to think it through before you make the decision. Potential customers may not put the same value on these things, making it hard to earn your money back. Be aware of the advantages and disadvantages of your home renovation projects, and then choose the ones that will help you maximize your investment dollars.
Once you decide on which projects to tackle, a loan from LendingUSA to help you cover the costs. We offer financing for up to $35,000, so check your rate today!
