Top Ways to Add Value to Your Home
Americans will spend nearly $233 billion on home remodeling this year, according to the National Association of Home Builders’ 2007 industry forecast. That represents a 1.9 percent increase from the record $228 billion spent in 2006, according to estimates from the U.S. Census Bureau.
But all home remodeling projects are not equal. Which projects are the best ones for those looking for a solid return on their investment (and higher profits come selling day)? Here are some top ways to add value to your home.
- Remodel Your Kitchen
- Small changes can result in big value. Upgrading appliances, door handles, and painting tired walls can add new life to your kitchen. Kitchens sell a home, so don’t skimp on the details. Keep in mind that if you are doing an extensive kitchen remodel, you might have to wait a few years to recoup your investment.
- Remodel or Add a Bathroom.
- A bathroom remodel can often mean simply making the most of your current space, by upgrading fixtures, flooring, and lighting. Adding or remodeling a bathroom is a great way to add value to your home. The greater the disparity between bedrooms and bathrooms in a home, the more there is to gain in value by adding an extra bath.
- Landscape your Yard.
- Landscaping can give a great – or not so great – first impression of your home. Backyard landscaping can transform ordinary spaces into incredible entertaining areas by including elegant water features and lush plants. You’ll find that your new landscaped yard adds value to your home and increases your living space.
- Remodel Your Basement.
- A basement can offer so much more than just storage. Look to your lower level to find additional spaces for family living. Whether you are adding a home theater, an exercise area, spare bedrooms, or a family living area complete with summer kitchen, the foundation is already in place for this type of remodel.
- A Home Office Remodel
- Home offices are becoming less of a luxury and more of a necessity, with more people telecommuting. Making sure that your home has a state-of-the-art space for potential teleworkers is a surefire way to increase your home’s value.
- Replace Old Windows.
- Thirty percent of a home’s energy is lost through its windows. Replacing old windows with energy-efficient versions shows that you really care about the house and reflects on the quality of the house as a whole. Plus, who doesn’t like to save money on energy bills?
- Replace the Roof.
- Especially with today’s steep roof lines, a good quality roof makes a strong impression as you approach the home. You can change the character of your home by looking into architecturally styled roofing tiles, metal roofing, and many other long lasting alternatives.
- Paint, Paint, Paint.
- There’s nothing like a fresh coat of paint to brighten a home inside and out. But remember to hire a professional and keep the colors neutral if you’re looking to sell.