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As a homeowner, you pay to live in the comfort of your own space. But, did you know that it’s possible to see some of your hard-earned money back in your wallet? By investing in the right home improvement and maintenance projects, you can increase the value of your home as well as the money in your pocket.
Add Curb Appeal
While the saying goes, “don’t judge a book by its cover,” in the real estate world, you do the exact opposite. A home’s exterior is its first impression for potential buyers. So excellent curb appeal (as opposed to a home with little to none) is critical for those looking to increase both the perceived value of a home and its property value. Fortunately for you and your bank account, curb appeal is easy to achieve, and you can do it yourself.
To boost your home’s curb appeal, you can add a walkway by laying bricks or pavers to draw the viewer’s eye to your front door. From there, try painting your front door with a pop of color to make it stand out against the rest of your design. You should also landscape with low maintenance and inexpensive plants to give your front yard a boost of color, greenery, and maybe even some privacy. A budget of five percent of the home’s value used towards landscaping can see a return of as much as fifteen percent.
Aside from adding value to your home (especially when you go to sell), curb appeal is a crucial investment because it shows you take pride in your home and will make it stand out amongst the rest.
Remodel the Kitchen
The kitchen is one of the most popular rooms in the home, considering its where most of us go to share meals and catch up on daily events—it’s where we begin and end our days. So, it’s no surprise that kitchen remodels are one of the most widespread home improvement projects for homeowners. Above all, kitchen remodels can provide a high ROI, so if you have the means to do so, invest in a kitchen remodel.
When looking into the aspects of a kitchen remodel, start by focusing on the layout of your space and the idea of the kitchen work triangle. It aims to place the cooking area, sink, and dishwasher in a triangle fashion to create an effortless flow and will help you achieve the most functional design for your workspace.
Don’t forget that other aspects, such as new countertops, cabinets, and appliances, will also provide you with a high return. Before jumping in, be sure to research average kitchen remodel costs. This can help you plan your remodel accordingly, as well as have an estimate as to how much the value of your home will increase once the project is complete.
Replace the Furnace/ HVAC
Replacing heating and cooling systems might not be the first idea that comes to mind when you think of a typical home improvement project. But it can prove to be highly beneficial if you plan to live in your home for an extended time. Having an ineffective unit can lead to insufficient airflow, inadequate heating and cooling, increase wear and tear on the system, and ultimately higher energy bills. To save yourself the money and the headache, install an energy-efficient system. Doing so will provide you with rebates and peace of mind all in one.
Update the Plumbing
When assessing the current value of your home, an appraiser will consider the plumbing in your home. That’s why updating your plumbing from old rusty and metal pipes is a significant investment for homeowners looking to sell. To save yourself from the chaos of tearing up walls and floors to fix a leak from faulty plumbing, get ahead of the problem by updating your plumbing as you renovate.
More often than not, PEX—a plastic tubing— is used in re-piping because it’s reliable and easier to install. PEX piping can run through a wall like an extension cord, which leads to easier installation and less money spent on materials and labor. Additionally, just like your heating and cooling system, an update in your plumbing can lead to savings in energy and money towards utility bills.
There are numerous advantages of investing in home renovations and improvement projects— increase in peace of mind, and the promise of ROI are just a few. Be sure to keep these tips in mind when you go to complete any home improvement or maintenance projects to ensure you’re correctly investing in your home.