Our houses are easily the biggest investments we will ever make, as well as the most valuable property you will ever have. And unlike most other possessions you may have, your house does not depreciate in value over time.
In fact, you can drastically increase your house’s value by making some home improvements. There are a lot of different things you can do and any home improvement project will cost a fair chunk of change, so you might not be sure what to do. The fact is, some improvements will increase the value of a house more than others.
So, whether you want to get your house ready to sell and you want to get as much from the sale as you can, or you simply want to continue to build its value over time, here are the best home improvement projects you can do.
Kitchen Remodeling
The kitchen is the heart of any home in a lot of ways. It’s where you will likely spend the most time together as a family, and it’s where you will form a lot of your favorite memories making old family recipes.
Given that people hold the kitchen in such importance, it’s no surprise that any home improvement project to the kitchen can result in a return of 60 to 120% of your investment. That has the caveat that the renovations are of good quality.
Remember that you're remodeling a home kitchen, not a kitchen for a restaurant. Most people aren't willing to pay for a deluxe kitchen with multiple ovens and industrial appliances. Stick to practical upgrades like marble countertops and decent appliances and even a fresh coat of paint is going to increase value.
Deck Construction
Outdoor living spaces are steadily increasing in popularity. This is due to the fact that more and more people prefer to spend vacations at home instead to save money. Deck construction projects cost anywhere between $1,200 up to $10,000 depending on the size of your deck, its features, and the materials it's built with.
And given the potential costs of the project, you might want to supplement your project money with a loan or alternatives like title loans Los Angeles.
While it's possible to trim this cost down by building a deck yourself, you need to know that it's a difficult task that's best performed by professional builders and the fact that the tools needed for the task are expensive. This is even truer if you're only buying these tools for this particular project.
Bathroom Addition
Bathrooms are an essential part of any home, which is why almost every real estate listing declares the number of bedrooms and bathrooms that a house or apartment has.
Bathroom additions don't necessarily have to cost a lot. The cost usually depends on the type of materials used in your project, and how big the bathroom is. You can save money by timing your project during major sales on bathroom components like tubs, toilets, sinks, and fixtures.
Insulation
The best part about insulation is that it helps keep your HVAC system running more efficiently during the summer and winter months. That in turn helps save money on the energy bill, potentially by quite a lot depending on how much better the new insulation is compared to the previous kind.
Energy-saving additions to your home make it more appealing to practical buyers. Another perk is that home inspectors indicate the presence or lack of insulation in their reports, which is often a big deal for buyers.
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