June 27th, 2020
Sometimes it can be hard for us to decide which home renovation project we should start with.
Some people choose to renovate based on just desire and some on necessity, but in reality, what all homeowners want is to increase the value of their homes.
If you want to increase the property value of your home, you need to make sure that every investment you make will pay off in the long run. There are numerous opinions on what home renovation projects you should do in order to increase the value of your home and sometimes we get lost. In this article, we will show you which home improvement projects you should maybe choose and why they make the most sense financially.
1. Entry door
Most people think that the entry door is important just for that first impression but in fact, it is much more than that. It is also a security issue and don’t forget the quality of your door can affect the energy efficiency of your home.
If you’re interested in selling your home, then that first impression is quite important, because the entry door is the first thing buyers will notice. Door replacements can recover 75.8 of their cost when you sell your home.
2. Minor kitchen remodel
A complete kitchen remodel can sound kind of scary sometimes, but no need to worry because with a minor kitchen remodel you can get the kitchen you always wanted and still recoup value.
It averages $14,913 for $14,691 at resale which is a recoup rate of 98, 5 %.
3. Wall cladding
After many years, interior wall cladding is making a comeback. Whether it’s from shiplap or salvaged barn board, brick, and metal plastic, it is giving rooms a distinctive aesthetic appeal and a specific rugged charm.
Apart from customizing the look of your home, wall claddings can also increase the value of your home without requiring much when it comes to investment. It is also known for its exceptional durability and due to this, it is a long-term investment that will serve you in many years to come. Due to today’s cutting edge technology, quality wall cladding is highly resistant to problem issues such as water, abrasion, scratches, and bacterial growth.
4. Attic bedroom
Building an attic bedroom in a three-bedroom house can cost you $39,188 and will return $36,648 at resale which is 93.5% recoup value.
Adding insulation to your attic will lower your utility bills. Make sure you install a foil vapor barrier in order to prevent moisture from sipping up. If your HVAC system can’t handle the burden of another room, consider installing a second unit.
The best way to save on cooling costs is to place a solar-powered attic fan. It is powered by a solar cell on the roof and It will exhaust heat from above your home.
5. Basement remodel
Usually, an average basement remodel can cost just over $51000 and at resale, it returns $46000 which means you will recoup 90% of the cost.
So how to remodel your basement? Create an entertainment area with a wet bar, install a 5×8 bath, laminate floor, and modern recessed lighting.
Keep in mind, when finishing your walls, to keep the dry panels a half an inch away from the concrete floor to prevent them from absorbing moisture.
Next step, fix your flooding problems. To keep water out, install French drains and bigger gutters or even re-slope the yard. Remember to make sure the fixes work before investing in your basement.
6. Window replacement
Naturally, old and drafty windows can cost you hundreds of dollars in energy costs during the winter and summer. By replacing your old windows with new energy-efficient windows the overall look and energy efficiency of your home will be significantly improved. It is a simple yet very cost-effective upgrade. With vinyl windows, you will recoup 73% percent of the cost, as for wooden windows, they recoup 68 %.
Before investing in any home renovation, make sure that the fundamentals of your home such as the foundation, doors, windows, and roof don’t have any issues. If the fundamentals don’t need any attention, then you can embark on the journey of updating and cosmetically renovating your home that will one day pay off.
Emma Williams is an Australian writer with a master‘s degree in business administration, who has a passion for anything lifestyle and design related. She spends most of her time redecorating and participating in house projects. As a great nature lover, her biggest pleasure is spending time in a small cottage by the river.