Enhancing Your Investment: Home Upgrades That Make Sense
Homeowners have a vested interest in the value of their home and in finding ways to increase its worth. But it can be difficult to know what improvements you should make, which ones you can afford, which ones you can do yourself, and which should be left to experienced professionals. A real estate agent can help you decide which parts of the house you should focus on. If you or your partner are handy with tools, you may already have a pretty good idea of where to start and what to do.
Whatever your skill level and level of commitment, there are some basic rules you should pay attention to if you’re determined to increase your return on investment. Bear in mind that the highest-value upgrades will probably be in the kitchen and bathroom, and some of the best improvements you can make are simple and inexpensive. Above all, don’t take on renovations that involve plumbing and electrical wiring.
Remember that you’ll need the right tools if you’re going to do it yourself. If your toolkit consists of a hammer, screwdriver, pliers, and a few rusty nails, you’re probably not ready. The last thing you want is to launch into a renovation only to find you aren’t equipped to finish it. A cordless electric drill, electric screwdriver, hot glue gun, and other high-speed tools are indispensable. If you can’t afford them, consider renting.
Kitchen upgrades can do wonders for boosting your home’s value. Even if your kitchen looks like it’s stuck in the 1970s, you can greatly improve it by taking small steps rather than committing to a full-on renovation. Repainting your cabinet doors is a fairly simple improvement. It makes the whole space look fresh and new, and it’s much less expensive than putting in all-new cabinets. If your countertops are looking worn and outdated, consider dressing things up with a faux marble top. You can also lighten your look with a backsplash covered with reflective material, or maybe a mirror. It’ll also create the impression of space if your kitchen is a little on the small side.
The bathroom is one of the first places a prospective home buyer will look, and it’s one of the biggest influencers. People don’t want to pay for major upgrades in a house they’ve just purchased, especially considering even a low-end bathroom remodel averages at least $2,500. If an ambitious bathroom redo isn’t in your plans (or budget), consider putting in some shiny new fixtures. You’d be surprised at how much better a bathroom can look with a new vanity, rugs, shower curtain, and even a bright new set of towels. If you’re looking at a major renovation, consider replacing an old bathtub with a walk-in shower. Remember, if your plans require you to alter the plumbing, look into hiring a contractor who has the knowledge and experience to do it right.
There are some improvements you can easily do yourself and which won’t cost too much. You can always create more living space and that nice flow-through look by removing excess furniture and getting rid of the clutter that tends to accumulate in most homes.
Improving one’s house and increasing value just comes with the territory when you’re a homeowner. There are any number of improvements that make sense in terms of budget and DIY skill level. Remember to consult with a real estate agent before jumping into a project that’s going to cost you heavily.
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