4 Money-Saving Remodeling Projects to Tackle in 2016
from: Dottie Well’s Home Action Newsletter, Bethany Beach L&F
Improvements on your home generally fall into two categories: the ones that would be nice to do and the ones that actually increase the value of your home. Yes, there are specific projects that you can undertake that will provide a significant increase to your real estate ROI and make your home a more functional, luxurious and enjoyable space. To that end, we have put together a list of home improvement projects that are proven to add value.
Basic Repair and Maintenance
Probably the most important home improvement projects that you can embark on aren’t upgrading the kitchen or putting in a luxury bath, but just taking care of the basic maintenance around the home. Repair broken panes of glass, cracked tiles, the creaky step and all of the other items that are on the “honey do” list. These types of small fixes that only cost a couple of hundred dollars can ultimately increase the value of your home by as much as a few thousand dollars. Not only that, a home that is considered to be in pristine condition will sell much faster in a competitive real estate market.
Tame the Yard
Cut down tangled trees, trim the shrubbery, remove mold and freshen up the flower beds. Having a well-landscaped lawn not only promotes curb appeal and brightens the home exterior, but also can significantly increase the value of your home. According to a survey of real estate brokers conducted by HomeGain, an investment of $400 to $500 in landscaping can bring back a return as much as four times that amount.
Green efficiency projects are an excellent choice for both upgrading your home’s systems and increasing its value. Not only will updating your home to save energy save you money in utility bills in the short term, it also makes the property more attractive to future buyers. For example, installing a solar powered water heater can provide you with money back in green tax credits that would offset purchase and installation costs and then save you as much as 80% on water heating bills. Take some time now to install energy savers for heating and air conditioning and even smaller projects like upgrading insulation to the attic.
Open a Can of Paint
A fresh coat of paint in a neutral color throughout the interior is a tried-and-true way of improving your home’s appearance and making it more attractive to potential buyers. Don’t forget the exterior either to maximize your home’s curb appeal. The approach of using a fresh canvas in your home can result to as much as a 112% return on your investment for those cans of paint and brushes.
It isn’t difficult to increase the value of your home with just a little time, imagination and investment. Good luck and happy renovating!