Many homeowners relish the opportunity to own a dream home with beautiful aesthetics. It is an incredible space to live in and an even better deal when you’re ready to sell. It would help if you were keen to select projects to increase your home’s value whenever you embark on a home transformation journey. Here are a few proven investments that homeowners should prioritize for a greater return on investment.
Costs and Benefits of Different Home Investments
New Roofing
A roof replacement is one of the top projects homeowners should prioritize to increase their home value. A new roof adds significant value to your home, while a roof repair merely prevents your home from losing value. With this in mind, a roof repair can only help you break even but cannot add value.
A roof replacement is costly upfront but has significant long-term value. If your home has minor repairs, you may need only a few patches from your local roofing services. But, you need a replacement if the damage is extensive following a natural disaster or long-term use of your current roof.
A generally acceptable rule is that if your roof has more than 20 damaged spots within 1000 square feet, you should replace it. This scenario is most common if you’re facing hail or storm damage. Fortunately, your homeowner’s insurance may cover the total cost or a significant part if a natural disaster caused the damage.
When replacing your roof, consider durable roofing materials for better value for money. Unlike 50 years ago, the market has great options due to technological advancement and better research. Some standard options include asphalt shingles, slate, tile, and metal.
HVAC and Water Heater
Homeowners should prioritize getting a new HVAC system and water heater to boost their chances with potential buyers when they sell their homes. Air Conditioning is a must-have in many states, and sadly, most homes use outdated models that increase energy bills. HVAC upgrades can improve your home’s comfort and cumulative monthly bills.
Furthermore, when home buyers shop for a new house, they will look out for homes with newer HVAC models that boost efficiency. An upgrade provides better air quality and more control over temperatures. Newer HVAC models have an intelligent system that masters your preferred temperatures over time and adjusts accordingly in the future.
The same applies to water heaters; the more modern they are, the better the technology and the higher the savings in energy costs. Tankless water heaters have become more popular because your heater won’t work over time, trying to keep the tank hot throughout. Hiring water heater installation services for a replacement job can save you significant money monthly.
When shopping for a new water heater, check the energy factor rating to help you understand the unit’s efficiency. It shows how much water is produced per a specific amount of fuel consumption.
Fencing
A new fence is one of the investments that will serve you and add value to your home. Homeowners should prioritize having a new fence to boost security and curb appeal, two major concerns for potential home buyers. The value it adds depends on several factors you can leverage for a more considerable increase in your home’s value.
The construction material you use can affect value; better materials add more value to your home than cheaper fencing options. Hiring a fencing company will improve the outcomes and curb appeal as they possess the proper skill set for quality services; curb appeal enhances visual aesthetics, which boosts a home’s value.
Another factor to consider is the privacy your new fence will offer you and potential home buyers. In addition, significantly improving the security of your home may also add more value to your property. This is especially helpful if your neighborhood has reported incidences of theft or any minor or significant criminal activity preceding your decision to sell your home.
Now that you understand the benefits of having a new fence, you can consider high-quality options like vinyl or wood during your upgrade. Vinyl fences are some of the priciest in the market, but they are low-maintenance and offer impressive privacy, security, and wind and sound reduction. Tall wood fences closely follow them, provide more coverage, and are easy to install.
Hardscaping
Hardscaping may seem overwhelmingly expensive at face value, but it saves you much more in the long term while increasing your home’s value. Homeowners should prioritize adding more permanent structures to their outdoor space as these rescue maintenance costs and increase curb appeal.
Hardscaping may involve stone patios, walkways, decks, fire pits, and outdoor sitting areas. These features increase comfort and pleasure while reducing the demand for continuous maintenance, which is very appealing to homebuyers. Research has shown they can increase a home’s value by 10-12%, thousands of dollars in unexpected income.
It is an excellent option for reducing soil erosion as these stone structures do not need repetitive maintenance. In addition, your lovely flower garden may not last a lifetime, but your hardscape will serve you for many more years. It also accentuates your green features by providing defined lines and designated spaces instead of one big area lacking structure.
Best of all, hiring paving services is a one-time investment to help every other buyer focus on making memories rather than keeping up with mowing and trimming. You will only need occasional pressure washing services, which can be done once a year to deal with grime and discoloration. Minor cracks can be easily repaired with cement and will not require a complete replacement of the hardscape.
Landscaping
Unlike hardscaping, which refers to the more permanent stone structures, landscaping focuses on natural elements like grass, flowers, shrubs, and trees. Homeowners should prioritize refreshing their landscape for better curb appeal and a better return on investment during the home sale.
Beautiful, well-maintained outdoor spaces are unsurprisingly appealing to home buyers and real estate agents. Buyers want to know they won’t have to spend thousands of dollars improving the area because the previous owner was committed to keeping up with landscaping. Some homeowners have recorded up to 150% return on investment in landscaping.
People take great pride in having a beautiful home, and the external appearance indicates a home’s aesthetics. Landscaping is more than mowing the grass; it casts a broader net incorporating water features, flower beds, manicured lawns, pool landscaping, evergreen plants, and much more. If all this seems overwhelming, hire a landscape contractor to help you design a plan to make your outdoors a coveted space by neighbors and potential home buyers.
Most importantly, fantastic landscaping extends our living space by creating a smooth transition between your indoor and outdoor spaces. If you design it well, you will relish spending more time with friends outside than in the house during the warmer seasons. The beauty of a well-maintained outdoor space will inspire you to incorporate additional features like an outdoor kitchen, gazebos, superb lighting, and outdoor bathrooms for a complete outdoor experience.
Interior and Exterior Painting
Homeowners should prioritize a quality paint job as a primary way to improve their home’s value. Exterior painting enhances curb appeal, inviting potential buyers to your home. It is advisable to do an exterior paint job before listing your home. But that doesn’t mean you cannot paint your home just for you and your family to enjoy it.
The most suitable time to hire house painters for an exterior paint job is during the Fall, at this time. The weather is not too hot or cold, which makes it ideal for many outdoor projects. The summers are too hot, while winters make it hard for paint to dry, not to mention the potential rains that may wash away the exterior paint.
Likewise, an interior painting project will increase your home value by reducing the number of projects the home buyer has to do to get the place to where they want it to be. Opt for high-quality paints; while they may cost considerably more, they are a worthwhile investment that will last a few years. Today’s market has washable paints that allow you to wipe down dirt or dust without damaging the paint; leverage these options.
Using neutral colors that can blend in with any furniture or decor is preferable. Some examples include white, off-white, and light gray. These options also make our home feel bigger, brighter, and more airy than it is. You can add pops of color with peel-and-stick wallpaper that you will remove during sales without damaging the paint.
Garage Upgrades
A garage upgrade is a simple task that can significantly increase your return on investment. Homeowners should prioritize a garage upgrade as a way to reduce energy costs. Undoubtedly, new garage doors use less electricity than older models. This feature will stand out for buyers when they come across your property.
Additionally, having a modern automatic garage door is an appealing feature that positively contributes to the dream of having a smart home. You can have these installed by a reputable garage door installers near you. Smart garage doors are remotely controlled, and others sense motion to close or open automatically. They also have a manual setting in case of a power outage; they are indeed the best of both worlds.
When looking for garage door services, try finding a contractor with great reviews from previous homeowners to deter the risk of redoing the job because of a negative outcome. Modern garage doors also beef up security, a significant concern for families with children or people with high-value possessions in their homes.
Kitchen Remodeling
The kitchen is one of the most essential rooms in the home, making it one of the critical areas that homeowners should prioritize to increase their home’s value. A complete kitchen makeover is ideal for many homeowners, but tight budgets can hinder achieving this dream. However, you can make many more minor changes to change the style and increase the value of your home.
Begin with the basics: the walls, floor, and countertops. These features stand out the most and require the most attention during a renovation. Use high-quality materials that are not susceptible to wear and tear so that you don’t need another replacement when you finally decide to sell your home. Think quartz counters or a marble finish to add a touch of luxury and practicality.
For the flooring, you can use tile or vinyl floors, which are very functional considering the high traffic experienced in a kitchen. Once you finish these renovations, you can take on more projects over time. Consider adding water softening equipment to your kitchen sink if you live in an area with hard water. Homebuyers will gladly pay more if they find an already-established system.
Bedroom Remodeling
A bedroom remodeling is another fantastic project that homeowners should prioritize to sell their home at a higher price. You can use timeless, high-quality features to maximize the value. A modern style will likely captivate many home buyers compared to traditional styles like French chateau.
A well-maintained bedroom has good paint, durable flooring, ample closet space, and incredible natural light. Having double-pane windows that retain heat during winter and coolness during summer is an added advantage. You can also increase the number of bedrooms if your home has additional space that qualifies as a bedroom, even though it has yet to be one.
Solar system
There is nothing like beating the rat race of never-ending electricity bulls to take more control over the power you generate and consume. A home solar system is a project homeowners should prioritize as it already has many national and state incentives.
Take advantage of the existing national tax credit of up to 21% for solar system installations. Some states, like California, have additional incentives for homeowners who install solar systems. Forget electrical contracting and embrace the freedom that solar power presents to homeowners.
You can add value to your home in many ways to get better deals when you’re ready to sell. Homeowners should prioritize projects like bedroom or kitchen upgrades, garage upgrades, landscaping, hardscaping, and HVAC, roof, and water heater replacements. These investments have a proven track record of giving homeowners a higher return on investment.
