SallyWilliams
New Member
When remodeling, most homeowners are focused solely on what they want out of their newly remodeled home. That’s all well and good if you’re absolutely certain you’ll stay in your home for many years to come. But if you plan on selling down the road, and even if there’s a chance you may sell, you also need to think about added home value when remodeling. Some home improvement projects recoup most of their costs in added home value while others tend to drain your bank account with much of a return on your investment. Here are eight home improvement projects that will practically pay for themselves.
If you plan to sell
1. Minor kitchen remodel. Spending around $10,000 for a minor kitchen remodel is usually a very safe investment if you do it right. Though it might seem like a more expensive, full kitchen makeover would be even better, real estate experts say that’s not the case. You tend to recoup less of your initial cost when you try to do too much.
2. Master bathroom. The same rules apply for the master bathroom. You don’t want to go overboard but a minor remodel costing around $10,000 is a safe investment. That should be enough for new countertops, new fixtures, and a frameless glass shower enclosure.
3. Paint. Repainting your home’s interior is a very cost effective to boost your home’s value. If you have the time, it’s a project you can do yourself to make your investment even better. You can even turn a profit.
4. Carpet. Unless your carpet is very new, replacing it before selling is always a good idea. Just keep in mind that the carpet’s color can be a huge turn off to potential buyers so make sure you stick with a neutral shade that’s a safer bet.
5. Curb appeal. Some minor landscaping projects is another cost effective way to boost your home’s value. This one’s a no-brainer. Trim the hedges, make sure you lawn is nice and green. Plant some new bushes and flowers. Replace the wood chips in your planter area. Upgrade your porch lighting and house numbers, replace the front door and mailbox and you’re in business.
6. Increase square footage. A sure fire way to add value to your home is to add to its square footage. If you’ve got a relatively small room that shares a wall with your backyard, why not push it out? Add some French doors and a small backyard deck and you’ve got more square footage.
If you plan to stay
Even if you don’t plan on selling, there are home improvement projects that will pay for themselves.
7. Heating and air conditioning systems. Upgrading your heating and air conditioning systems is a great way to cut your monthly spending on electricity.
8. Solar panels. Depending on where you live, having solar panels installed on your roof may be a great way to save some money on energy bills. Not only will your monthly expenses be lower, but you may qualify for some tax breaks as well. Your utilities provider may even buy the excess power you produce.
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