If you’re looking to invest back in your home, there are specific areas that of the home that are simply more valuable than others. With that being said, putting your home improvement loans to proper use comes down to putting that money in the right places.
We are going to cover 7 areas of the home that you can invest in to increase your home’s value.
The roof is the home’s ultimate barrier of defense, so having a properly function roof is a no brainer for increasing the value of your home. It keeps the heat out in the summer and bears the brunt of winter, so you know that roof is always taking a beating.
Check it each year for weak spots, wet spots, and entirely missing spots, as these are the early signs of roof damage. Shingles that are curled up are also an early indicator of a problem area on your roof. Major problem signs include leaks, soft spots, and areas where you can see light shine through.
Though a roof repair can be an expensive upfront cost, financing makes it easier to pay back.
Another expensive, but extremely valuable, area of the home to upgrade is your kitchen. A lot of time is spent in the kitchen, and it’s a desirable value adder for the home. Upgrading the appliances, countertops, and fixtures are enough to completely renew your kitchen, and if you add in a fresh coat of paint and new cabinet stain, your kitchen can be look like an entirely new space.
If you don’t already have a disposal, adding one during your upgrades is a great value adder, and a reverse osmosis water filter is always a nice touch.
Bathrooms are either extremely cost effective or more on the expensive side, but they are so worth the investment. Having nice toilets, showers, and fixtures is a great way to refresh any bathroom and add tons of value. As always, add a fresh coat of paint to completely renew all of the most private spaces in your home, and make them comfy cozy.
The windows in your house make a big difference in the value of your home, both initially and in the long run. Most heating and cooling issues in the home boil down to the windows in the home. If they are old or have bad frames, they are going to leak. That means you lose all that precious heat in the winter, and the satisfying A/C during the summer months. Ultimately that leads to higher utilities, and more money out of your pocket.
A deck is something you build when you plan to enjoy it a while. Though it’s not the biggest home value booster, it does help you when it comes time to sell, especially if your deck is nice. If you can enjoy 10 to 15-years with your deck, it’s going to boost the value of your home because it’s a desirable item to purchase. They say decks start at $15 per square foot, but can run up to $35 and beyond.
We talked about the kitchen appliances, but realize that appliances can be just about anywhere in the home and generate value. Freezers in the basement, refrigerators in the garage, and a new washer and drying can really help people see the extra value in your home, especially when you show them those utility savings from energy efficient appliances and upgraded windows.
Having a bit of extra space to store the vehicles and yard equipment is simply invaluable. The extra utility it adds to the home is a tall-tale sign of why it also adds value to the home. That being said, an attached garage generates more value than a detached, but both trumps one or the other. Even utility steel sheds create value as the are the perfect place to park the mower and other gardening tools for the winter months.
Like the deck, finishing your basement is one of those improvements that you pay to enjoy now, but really benefit from in the future. It generates value due to being a better living space, but basements can be tricky. If you make it too short, it just turns into a creepy space that feels simply cramped. Try to leave a portion in the back by the boiler undone for the health of the equipment. If you have the room, you can also make that extra space an area to do laundry and put a laundry sink. That way, if you make a mess, you don’t ruin the finished area, and it’s just easier to keep it nice.
Renovating your home can create tons of value with the right equipment and creative touch, but make sure you are putting your efforts in where they count. If your house is new and you plan to stay for a while, try to tackle the bigger projects, so you can enjoy them and reap the benefits down the road. If you are trying make a quick flip, stick the the areas that people spend the most time in like the bathrooms and kitchen. These tend to create more initial value anyways.
No matter what you project you plan to tackle, you can add to your home’s value.
What projects do you do to generate value for your home? Do you have any special value boosting secrets that are sure to help people when it’s time to sell? Share them in the comments below.