When it comes to making home improvements, it’s always wise to think about whether you’ll get a return on your investment if you ever decide to sell your home. Remodeling or putting an addition on a home can be costly, and it’s a good idea to keep in mind how long you might stick around to enjoy these features versus how much value they may add to your home.
A couple important thoughts to keep in mind:
· Don’t price yourself out of the local market. In other words, throwing a huge amount of money into a house located in a neighborhood full of smaller homes may make it difficult to recoup your investment if you sell.
· Concentrate on bang for your buck. Looking to remodel? Consider your options. Often a “facelift” is a good alternative to a pricy, involved renovation.
There are a few home improvements that are always a good bet when it comes to modernizing your home and increasing its overall appeal to a potential buyer. Here are a few:
Spruce up the exterior. Curb appeal is the first impression a buyer has of a home – plus, it never hurts to have the outside of your house looking its best when people come to visit. Your neighbors will appreciate it, too! Keep on top of seasonal maintenance, like clearing gutters of debris and disposing of fallen leaves and other yard waste. Replacing old siding or windows can not only revitalize the look of your home, it can lead to energy efficiency that you and future residents can enjoy.
Go green. And speaking of energy efficiency, making your home greener is a no-brainer. Energy efficiency is the wave of the future and it can save you a bundle on monthly utility bills as well. When old appliances fail, replace your washer and dryer, water heater, furnace, and kitchen equipment with energy-efficient models. Low-flow faucets and toilets will keep your water bill down, too.
Reimagine existing space. Instead of going for a full-blown addition, consider adding a basement or attic bedroom or home office. Pocket offices – desk areas with plenty of electrical capacity for charging devices – are popular and can be squeezed into a hallway niche or large closet. If you have a bonus room or formal dining room that you never use, consider transforming it into a media room that the whole family can enjoy.
Reface existing fixtures. A full kitchen or bathroom remodel can get pretty pricy, and you may not be able to recoup what you’ve spent when it comes time to sell. Fortunately, you can modernize older rooms by making smaller replacements – cabinetry, countertops and appliances are a good place to start. You might be surprised at how small changes can make an old room feel like new.
For ideas on making the most of your space without draining your bank account, check out web sites and magazines aimed at home decorating and interior design. With the preponderance of big do-it-yourself stores like Lowe’s and Home Depot, you might be surprised at what you can accomplish on your own when it comes to giving your home a makeover.
