6 Great Ways to Add Value to Your Home
Homeowners can often increase the value of their property with simple and affordable projects that can be carried out in just a few days. Whether you are hoping to sell your home in the near future or would simply like to make your family more comfortable, read ahead for a look at six home upgrades that all have a proven return on investment.
1. Steel Front Door
There are few home upgrades that are as practical and lucrative as installing a steel front door. While many homeowners like the appearance of traditional wooden doors, this material comes with a few disadvantages. In addition to becoming weathered over the years, they do a poor job of insulating. Steel front doors are much stronger and provide excellent insulation for a home.
2. Attic Conversion
Converting an attic to a bedroom can be more expensive than other home projects, but it can also add an incredible amount of value to a home. Homeowners will first need to determine if they can run live wires to the attic and take a look at the state of the insulation. It is also important to consider how easy it is to get inside the attic. Cutting through the ceiling to install a stairway might make this project financially impractical.
3. Bathroom Remodeling
Depending on one’s location, remodeling a bathroom often has the highest ROI of any home upgrade. One study carried out in Baltimore revealed that bathroom upgrades were recouping up to 182 percent of their cost at resale. When in doubt, homeowners should stick to basic upgrades such as stainless steel faucets and new tile.
4. Roof Replacement
Even if you do not plan on putting your home on the market in the near future, any damage to the roof should be addressed immediately. This is especially important in locations that are known for severe storm patterns. Traditional asphalt shingles will need to be replaced around every 15 years or whenever the shingles begin to split. Homeowners should thoroughly inspect their roof at least once a year in order to find any pinholes or cracks that will allow in moisture.
5. Deck Addition
Adding a deck to your home is another project that is very reliant on the local weather and the state of the neighborhood. This addition is a great option for homes that are in a warm climate on a larger piece of property. For homes that have a great view, adding a deck might have an ROI of 100 percent or higher.
6. Minor Kitchen Upgrades
A beautiful and ergonomic kitchen can be a major selling point for a home, but that doesn’t mean you need to invest thousands of dollars into your kitchen. Instead, homeowners should think about smaller additions that will improve its appearance and functionality. This often requires nothing more than some matching appliances and an eye-catching backsplash.