Sometimes you renovate your home to get more practical use from it, like when you build an addition after the children come along. Other times you want to modernize your kitchen to have the latest cabinet styles, countertops and lighting. But many homeowners like to ‘invest’ in their home. In other words, their renos are done with the improving the value of the house as a primary goal.
There are two factors that affect how ‘profitable’ your home improvement will be. One is the cost of the improvement. A swimming pool will usually increase the value of your home, but in many case it won’t do so enough to offset the cost of installing the pool.
The other factor is how much value, or how desirable, the improvement is in the housing market. Bathroom and kitchen renovations, while they can get expensive, will usually payoff in much higher home values.
1. Paint More than Walls
It’s fairly well known that painting your home is one of the highest value-to-cost ratios of any home improvement. But when most people think of painting their home, they think of the interior walls. But why stop there. There are many other parts of your home that can be painted to add value, including your kitchen and bathroom cabinets, light fixtures and furniture.
2. Update Your Door and Cabinet Hardware
You’ll be surprised with how much of an improvement to your bathroom and kitchen’s décor and ambience you can make by simply changing door handles, drawer pulls and cabinet handles. Combined with painted or refinished cabinets, you can practically make it look like the room has been entirely renovated. And new door handles and hardware on your entrance doors will make the right first impression.
We’re not talking about adding rolling hills and replanting the whole yard. But by simply keeping your lawn weeded and trim, your trees pruned and garden dirt freshly turned, you will do wonders for your home’s curb appeal.
There’s lots of factors that go into the value of every home, from location, which you can’t do anything about, to keeping it well maintained and looking great, which you can do everything about. But before you do anything, make sure it’s an improvement that pays off.