Which Home Improvements Add Value to Your Home?
Many people believe that home improvements will add significant value to their homes. The fact of the matter is, some improvements will add value, while others may add to your family's enjoyment of the home, save on utilities, or merely preserve your biggest investment with necessary maintenance.
Bathroom remodeling is one of the top projects that will probably add value to your home. Outdated styles, colors, and fixture designs "date" a bathroom. Newer fixtures may have energy-saving features and may be easier to clean. Research available options—why pay $500 for a plain bathtub from one store if you can get a whirlpool tub for the same price from another? Be aware of access challenges, especially if you're planning to use a one piece tub/surround—some won't go through small hallways or narrow turns without removing a wall,
Kitchen remodeling is another improvement that typically adds value to a home. Older kitchens were designed with a "work triangle" to make it easier for one person to prepare meals. Modern kitchens allow space for two or more people to share food preparation.
Another popular improvement is the home office. The ideal home office allows a degree of privacy as well as making it possible to keep a watchful eye on children. An office can either serve one family member, or several, with work areas designed for children's homework and quiet art projects.
One relatively inexpensive way to add value to your home is with a new deck or fencing. This adds both privacy and curb appeal. You can also incorporate outdoor living features, such as an outdoor kitchen, fire pit, or pergola.
Cosmetic improvements such as roofing, vinyl siding, painting, landscaping, replacement windows or installing new light fixtures can make a dramatic improvement at little cost.
Finally, finishing existing space such as an attic, basement, or garage can give you more living space at a reasonable cost.
All of these projects will probably add to the value of your home. The amount of added value depends a lot on the neighboring houses. No matter what the size, features, or condition of your home, a big part of "value" is the neighborhood. For maximum value, your home should "fit in" with the character of the neighborhood.
Older homes often suffer heat loss due to inadequate insulation. By adding insulation and installing energy efficient replacement windows and doors, you can save up to 20% of your annual heating and cooling costs. You can also realize significant savings from newer heating or central air systems. While these improvements will help you save on utility bills, and "new furnace" is a good selling point, the improvement won't add significantly to your home's value.
David Deschaine - About the Author:
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