In 2018, $7,560 was the average amount American homeowners spent upgrading their homes. There are two primary reasons homeowners invest in improvements. One reason people renovate their house is to make it more suitable for their personal needs. Families that are growing may need more usable space, and updates can improve how space functions. For example, you may find you avoid using a room because it’s dark or feels claustrophobic. Painting the walls with light colors and installing a large window to let in more natural light can make the room feel welcoming and usable.
The other reason people renovate is to increase the value of their property. It’s common to invest in renovations before listing your home for sale to ensure a quick sale and receive a healthy sale price. Some renovations pay off better than others. To maximize the benefits from your financial investment in your home, focus on the renovations discussed here.
If you’re focusing on renovations that increase a house’s value, one of the best ones to start with is a bathroom remodel. Potential home buyers focus on bathrooms, and if your bathroom has been updated, it will increase your chances of selling. Install a new bathtub, toilet, and vanity to give your bathroom a complete upgrade. Complement the fixtures with a new tile surround. Focus on bright, neutral colors. Garish, outdated color schemes and strong patterns may not appeal to all buyers, but potential buyers can use their current towels and bathroom decor with neutral palettes. Homeowners typically receive 102% of their financial investment in bathroom upgrades when they sell their home, making this one of the most profitable renovation projects you can complete.
Heating, Ventilation, and Air Conditioning (HVAC)
The quality of the air in your home is a crucial feature that’s often overlooked. If your home has poor air quality, you may be exposed to allergens and pollutants. Over time, this exposure can lead to health issues, such as headaches, asthma, respiratory disease, and cancer.
Invest in sensible indoor air quality solutions and have qualified HVAC technicians service your existing HVAC system regularly. These technicians can ensure your system is maintaining optimal air quality inside your home. Make sure to have your ducts cleaned annually to remove dust and mold. This will reduce the volume of toxins that circulated in your home. Your HVAC system will also operate more efficiently if the ducts are clean. Having the air filter changed regularly will also improve your HVAC system’s efficiency and keep your home’s air clean. Whether you’re selling your home or not, investing in your home’s HVAC system will reduce your power bills and help protect your family’s health.
The quality of your windows will impact the quality of the air in your home and your electric bills. Old windows are often drafty and allow unwanted air exchange. This means your furnace will have to work harder to heat your home in the winter, your air conditioning unit will have to work harder to keep your home cool in the summertime, and your home will be adversely affected by poor air quality days.
Replacing your windows is expensive, but you will recoup the investment by reducing your energy bills. You may also be able to reduce drafts by installing weatherstripping and caulking around your windows. Thick curtains and shades can also help reduce unwanted airflow. If these tricks don’t make a noticeable difference, it may be time to install double-pane windows.
Termites, rodents, and raccoons can cause significant damage to your home and jeopardize the health of your family. Termites are drawn to cellulose, which is a plant fiber found in wood. These pests eat cellulose and wood. They will burrow into the structure of your home and can cause significant damage to support beams, window frames, doors, and walls. Termites may even damage wood furniture. Rodents can leave droppings in air ducts, which can make it harder for your HVAC system to heat or cool your home. They also spread diseases through their droppings, which could affect the health of your family.
Raccoons can access attics and cause structural damage. They can also damage your home’s wiring and remove shingles, which can cause your roof to leak.
Removing pests will improve the comfort and safety of your home. Pest control measures will also prevent costly damage to your home.
Landscaping is one of the common home improvement projects that’s worth the investment. It doesn’t cost a lot of money to landscape your yard. Trim bushes and trees regularly to keep them from appearing overgrown. Trim branches that are near your house or other structures on your property. Tree branches can cause damage if they scrape against your roof or siding. The amount you spend on tree-trimming will be far less than the cost of repairing water damage inside your home if a branch tears a hole in your roof.
Install pavers to create a level, visually appealing walkway to your front door. This makes your home accessible, which will appeal to potential buyers if you decide to sell. You can also use landscaping techniques, such as sloping, to draw water away from your home and prevent your basement from flooding.
You can also improve your home’s appearance by adding a flowerbed with colorful flowers.
Curb appeal refers to a home’s external visual appeal. Landscaping is one of the improvements that can add to your home’s curb appeal, but there are several others. Install a new, bright front door to make a statement. Your door’s color should complement your home but be distinct. New front doors look welcoming. Old doors tend to let in drafts, and a new door will also improve the quality of the air in your home and make it more energy-efficient.
Your home’s siding can also be a critical factor in determining its curb appeal. Mold and mildew can build up on your home’s siding, which can cause structural damage. Use a pressure washer to clean your home’s siding. If your siding is old, you may want to repaint it or replace it with new siding.
When you’re working on your home’s curb appeal, don’t forget the garage door. A working, visually appealing garage door will improve your home’s visual appeal while ensuring your garage is accessible.
Curb appeal plays a critical role when you’re attempting to sell your home. A property that’s run down or overgrown may deter potential buyers from even coming inside to tour the house. When you invest in your home’s curb appeal, you can spend a small amount of money to produce a significant return because you will show your home’s potential to buyers.
Replace the Roof
Check your home’s roof and repair or replace missing shingles when necessary. If your roof is old, you may want to replace the roof. Your home’s roof performs a crucial job. It keeps moisture out of your home. If rain and snow build up on the roof and get inside, the moisture can cause mold growth, rot support beams, and damage floors and ceilings. Investing in roof repairs is a way of protecting your property and sparing yourself the cost of expensive repairs.
Installing a deluxe kitchen may pay off if your objective is to create a desirable space for your family to enjoy. If you’re focused on selling your property, stick to uncomplicated kitchen upgrades. You may want to reface cabinets with new doors and handles. This will freshen up the space. Add lighting to your kitchen to ensure it’s bright and welcoming. Replace old counters with laminate countertops. It’s also a good idea to replace your sink, wall oven, and kitchen fixtures and paint the walls to make your kitchen look bright and welcoming.