Houses are investment pieces regardless of whether or not you purchased one with that thought in mind. Unlike other expensive purchases that can also be considered investments, houses actually appreciate in value when they experience proper maintenance and upkeep. Of course, you can also make changes and modifications to the home that affect its value, and today we’ll go over a number of home improvement projects that are sure to boost your property value. Keep in mind, however, that you shouldn’t expect a 100% financial return on your investment since part of the return comes as peace of mind and enjoyment.
Kitchen
A kitchen is likely to be one of, if not the most, used and occupied rooms in the house which means there are ample opportunities to make changes that’ll positively affect your property value. As tempting as it may be, it might not be a good idea, or financially possible, to make changes to the entire kitchen at once. Although it would be quicker and it might be more convenient, it can also be very expensive if you go with high-quality replacements, which is the recommendation when considering the effect the changes will have on your property value.
Refacing vs. Remodeling
A kitchen’s appearance can speak volumes, so it’s a great idea to make sure that first impressions are positive. Remodeling and refacing your kitchen is a great way to add value to your home.
Refacing your kitchen is exactly how it sounds; you’re giving a new surface to the already existing furniture structures. Refacing is the most cost-effective way to give your kitchen an updated look, but it won’t be able to add more storage space or modify the existing space as it stands, you’ll just be changing the exterior appearances. Since this is much simpler than a full renovation of your kitchen, it won’t have as large of an impact on your property value, but it’s also not going to require as much time and money.
Remodeling your kitchen is essentially a total overhaul of the layout and designs. Of course, you’re able to decide how much of your kitchen will get a makeover but you should expect to spend much more money and time if you go this route. However, the payoff is that your property value will also be affected to a much greater degree. Since remodeling your kitchen is a much bigger task and investment, it’s a good idea to enlist kitchen design professionals to ensure things are done properly the first time.
Styles change quickly, and this is perhaps more true today than ever, as the internet and social media have enabled people to share ideas and styles, allowing for a rapid change in desired design elements. Refacing your kitchen will only give you so many options to work with; it may not even be an option if your kitchen has lower quality cabinets and hardware, as features made of particle board don’t hold up to multiple rounds of stripping and refacing. If your kitchen has features made from particle board, it’s definitely recommended to remodel your kitchen so you can upgrade to higher quality materials.
Updated Appliances
Some people say that a kitchen is only as good as its appliances are, and to some extent they’re right. The appliances are your kitchen’s bread and butter, meaning you can’t have a complete kitchen without functional appliances. Even if your appliances are functional, making sure they’re updated is a good idea because new appliances are much more energy efficient, and they have the added benefit of simply looking sleek and modern.
Newer appliances also often have a range of new features. Aside from energy efficiency, they’re also often quieter and have diagnostic features to alert you when an appliance is experiencing issues that could damage it or shorten its longevity. Since appliances are more complex and much harder to do without, it’s a good idea to consider springing the extra money for extended warranties. You could even consider enrolling in a home warranty plan which can cover a whole range of appliances and features at once and eliminate the need to keep track of what appliances were purchased where, when, and what the timespan is for each extended warranty.
An Updated and Upgraded Garage
Renovating a garage is one of the more simple and affordable projects, and as such, it can often be the first step in the home renovation journey. The most valuable facets to update in a garage are the main door, the garage door opener, and the floor. The floor only really needs to meet the criteria of being flat, clean, and undamaged, so cracks and stains will have to go. Thankfully, resurfacing a garage floor will cover up any stains that aren’t actual contaminants, and it’ll fill in all the cracks to leave you with a fresh and flat floor. It also might be worth your while to throw down an epoxy coat to give the floor a fun appearance while also making it easier to clean and help to protect your investment.
Replacing a garage door would be the next step to take. Garage doors are a keystone piece to curb appeal as a home rarely feels nice and inviting if the main means of entry is weathered and down-trodden. Upgrading your garage door is even beneficial for energy saving because many modern doors include a layer of insulation that can give the same effects as a typical insulated wall. This perk alone might be enough reason to replace your garage door, especially if your garage is below the living area of your home. It’s also a good idea to choose a material that’ll hold up well against the climate that your home is in, such as vinyl or composite material.
Lastly, and perhaps the most valued part of the garage, is the garage door opener itself. Most openers have a lifespan between 10 and 15 years. So as the machine nears and surpasses being a decade old, the parts inside will have already begun deteriorating and losing efficiency, meaning the door will likely become louder and slower whenever it’s used. Even if you don’t think your garage door opener needs to be replaced, but it’s nearing the end of its anticipated lifespan, it’s recommended that you get it replaced anyway. As the door ages, it becomes more susceptible to failure, and the spring inside garage door openers are very dangerous if they break.
Tend to Your Roof
A home’s roof is arguably the most important structural component as it’s the barrier between the outside elements and yourself. In many cases, the roof is perfectly fine and doesn’t need to be replaced if it’s functioning as intended and keeping the interior protected. However, if you’re looking into the near future at possibly selling your home, then replacing your roof before trying to sell the house might be something you should consider.
A home’s roof is one of the first things that home buyers look for when scouting out potential purchases, and that’s because replacing a roof can be a hassle on its own without having to add in the stress of needing work done on it while moving into a new home. Additionally, a home that needs a new roof is one that’ll often get lowball offers since potential buyers will use the age of the roof as a bargaining chip as to why you should accept a lower offer than you’re looking for. Oftentimes, the difference in offers will be much greater than the actual cost to have your roof refinished before hitting the market.
If you know that your roof is in need of some work, or that it could need work in the near future, then it’s a great time to consider upgrading the materials of your roof to ensure it lasts longer and provides the most benefit possible. Metal roofs are the perfect replacement for shingles because they require much less upkeep, are 100% recyclable, aren’t flammable, have a much longer lifespan, and can even help to cut down your home’s energy costs. Metal roofs will add value from the moment they’re added simply by saving you money, with the ease of recouping their cost at the sale being an added bonus.
Bathroom
The bathroom is another room that shouldn’t be overlooked when considering where to upgrade your home while also looking to add value to your home. There’s a reason one of the nicknames for a toilet is “The Porcelain Throne,” and it’s not just because you sit on it. “The Porcelain Throne” evokes ideas of royalty, lavishness, and comfort; and no throne is complete without a comparable throne room, and if your bathroom has seen better days, then it’s probably overdue for some attention. Since a bathroom is used for personal care, its cleanliness and appeal are a must, as guests often judge a place’s cleanliness by the standard that is shown in the bathroom, and according to one survey, 42% of respondents said they look down on a person with a dirty bathroom.
Renovating a bathroom to make it feel more inviting and clean is not only going to help cut down on possible judgment, but it can also help you start your day. For many people, mornings are stressful, and one of the first things they do after waking up is to enter the bathroom. Having a bathroom that you’re comfortable in, and that feels warm and inviting is a great way to start your day off with positive feelings and thoughts. Especially considering that the bathroom is the typical place for people to clean themselves up in, it’s hard to feel clean in a room that feels dingy. Home appraisers and home buyers alike are going to take notice of bathrooms, and it may even be a deal-breaker for some.
Basement
Sometimes basements are unfinished and end up serving as a storage room, and while the storage space might be nice to have, it will certainly not add to your home’s value and might even detract from it. Finished basements are a great way to add value to your home and are something that many home buyers look for because it adds extra living space in the house and can be a place for personal rooms that are out of the way and don’t disturb the rest of the home; rooms like a home office, a playroom, home theater, and even guest bedrooms.
If you’re looking to sell your home in the near future, it’ll appeal to a greater range of potential buyers if the basement is finished; while a finished basement is essentially a blank canvas for people to dream up their ideal room, an unfinished basement can end up feeling like a project that needs to be completed. However, if you’re not looking to sell your home anytime soon, then surely having an updated and finished basement can lend plenty of emotional value by allowing you yourself to chase your dream room; with the benefit of adding to your property value of course.
Conclusion
Homes are an investment and modifications to them should be treated the same. While certain improvement projects are going to add more financial value to your home than others, that doesn’t mean less value-adding projects aren’t worth doing, because a lot of the value that you might personally get out of the projects comes in the form of the enjoyment that you get out of the new space. Whatever your project might be, a visit to Parr Cabinet and Design Center can be the first exciting step towards realizing your dream home makeover.
