As a homeowner who might want to sell your home one day, there is a good chance you’ll want to know how you can increase your home’s value by completing affordable home improvement projects. With more and more people feeling like they have to stay in their home longer due to sluggish real estate activity, there is an increased desire for home improvements that give owners the biggest bang for their buck.
When it comes to home improvement projects, it is a good idea to know what is actually worth the investment, because truth be told some projects don’t really add much, if any value to your home.
Here are some helpful home improvement projects that will certainly increase the value of your home.
Give the paint an overhaul
One of the best ways to get a nice return is to give your home a fresh coat of paint. This goes for inside as well as outside. Inside, turn boring, dull colors into exciting, bright colors to get the attention of potential home buyers. Of course you can use natural tones like shades of beige, grey, and white, but don’t forget that a splash of radiant color here and there goes a long way. Use a low-VOC paint, as it is environmentally friendly and better for your indoor air quality.
Remodel the kitchen
Remodeling the kitchen is a great way to increase the value of your home. Granted, it will take a decent amount of money to complete the project, but home design experts say that you are likely to recoup between 60 and 120 percent of your investment in the kitchen. Keep your remodel simple, though, as deluxe kitchens can run you many thousands of dollars and you may not get a good return on your investment if you go overboard. A fancy kitchen is wonderful, but if it does not jive with the rest of the home, it will not suit some potential home buyers.
Add a sun deck
Many people love to cook and lounge on a sun deck, so adding a deck is definitely worth the investment. According to HGTV, you can recoup between 65 and 90 percent of your investment in a deck. Go for a deck that suits your budget. Decks can run you anywhere from $1,000 to $10,000+, so be sure that the size of your deck is relative to your home and the projected selling cost. You don’t necessarily have to build a huge deck in order to increase the value of your home. A simple, nicely designed deck that will fit a grill and a patio table usually suffices for adding value to a home.
Use energy-efficient appliances
If you have old appliances around that are sucking a lot of energy, replace them with energy-efficient appliances. Not only will they save you money when it comes to your energy bill, but they also increase the value of your home. Look for appliances that have the Energy Star logo, as they are backed by the Environmental Protection Agency and you may even quality for federal tax credits when you use them.
Finish the basement or attic
You can add square footage to your home and increase the value by finishing the basement or the attic. Sometimes homeowners even convert such spaces into a small apartment so that they can draw in a rental income. If you can do the labor yourself, the investment will be well worth your time and energy. If you have to hire out, be sure to check around for qualified contractors who will give you a fair price.