Making a home more valuable than it was when you bought it should be a key objective for any homeowner. The housing market will always have its ups and downs, but the value of additions and improvements will always carry weight. Make the most out of your investment by creating improvements that make your home more functional and livable. Here are five ways that you can add value to your home.
1. Replace Failing Windows
Old and drafty windows are a serious liability because they make your home highly vulnerable to the elements. In a severe weather event, your home could sustain damage from heavy rains or high winds because of poor seals and sagging frames. Also, windows that are difficult to open and close completely can be dangerous to you or your family, particularly when they won’t stay open on their own consistently. Furthermore, old windows make your home less energy efficient.
When you replace old or poorly functioning windows, you safeguard your home against damage. In addition, impact or hurricane resistant windows may entitle you to a discount on your homeowners insurance.
2. Repave Your Driveway
A driveway that’s full of potholes or uneven surfaces really diminishes your home’s curb appeal. Discolorations and oil stains are a distinct eyesore.
Smoothing out your driveway with new concrete or asphalt will make it look great. You can add a protective sealant so it won’t crack from heavy rains or ice melt, and it will be easy to power wash clean.
3. Make Your Backyard Area More Inviting
A lot of homes don’t fully utilize their outdoor space, and the areas simply go unused. However, having an outdoor area that’s equipped for seating, shade, and swimming is going to greatly enhance any property’s value and appeal. Refinishing or installing a deck space and cleaning up your landscaping are the first steps to creating an outdoor area that really feels like an extension of your home and gives you the opportunity to enjoy the outdoors while enjoying the comforts of home.
Of course, having a pool is one of the most sought after and enjoyable home improvements on homeowners’ wish lists. How much does an inground pool cost to install compared to how much it raises your home’s value? It depends on a few different factors such as the size of your property and the value of comparable homes in the area. Look for a company that does custom installs and offers competitive pricing as well as financing options to make your investment more affordable and get the best return. Also, choose a company that is familiar with the permitting process in your area so your project won’t have any unexpected delays or financial setbacks.
4. Refinish Your Kitchen
Even if you keep your kitchen super clean, a Formica countertop with cracks or chips will make it appear not well-cared for. A total kitchen remodel can be a little pricey, and homeowners don’t always generate all of the value that they put into doing it when they sell their homes.
Refinishing your kitchen is a good way to make it look more impressive and add value to your home without spending a ton. You can get new cabinet facing and new countertops to fit over your existing layout.
5. Remodel Your Basement
Converting a basement that nobody ever goes into is kind of like adding to your home’s square footage. Even if the space is already there, it hardly counts as livable space if nobody wants to use it.
When you finish a basement, you can use it as a rec room, playroom, or extra bedroom. Some drywall and carpeting may be all you need to turn your basement into a room that people enjoy using.
Ultimately, projects that make your home more functional and better looking are a worthwhile investment. You can enjoy your improvements until you’re ready to sell your home and then see a return on your investment with your home’s sale price.