Making smart investments in your home is a foolproof way to get a better return on investment on any home project. Should you decide to sell your home, making a few changes to the house can increase the value of your home significantly. Here are some of the most profitable investments any homeowner can make.
1- A New HVAC System
A new HVAC system can increase the value of your home by as much as ten percent. Depending on the age of the current system in your home, it can also reduce utility costs. The average cost of a new HVAC system is in the thousands, and the investment looks good to prospective buyers.
2- Energy-Efficient Windows
The rising cost of utilities has homeowners paying significantly more to heat and cool their homes. As a result, many homeowners are considering replacing their old windows with more energy-efficient windows to reduce heating and cooling costs. Not only do new windows substantially improve the overall appearance of a home, but the energy savings are appealing.
3- Basement Remodel
If you live in an area in which basements are common, considering a basement remodel is a wise decision. Turning unused or unfinished space into usable living space is something many homebuyers appreciate. Having a home office, additional bedrooms or bathrooms, or even a game room downstairs is appealing, and many buyers are willing to pay more for useable space.
4- Office to Bedroom Conversion
With more people working from home than ever before, a home office is a must for many homeowners. However, adding a simple closet to a home office can turn an office space into a bedroom space, increasing the value of your home tremendously. A large walk-in closet is unnecessary in a home office. The room simply needs any closet space to be considered a bedroom for resale purposes.
5- Upgrade Appliances
Upgrading home appliances is a smart investment. There are many ways to do this, too. For example, adding a hidden fridge to the kitchen can add value to the space. When the front of the fridge looks like your high-end cabinetry, the value of your kitchen space increases exponentially. Buyers pay more for elegant appliances.
6- New Paint
Though new paint is inexpensive and seemingly simple, the value of new paint adds up quickly. New exterior paint can make a home look newer and more appealing from the street, which can make the home more appealing to buyers. New interior paint has the power to make a home look more spacious as well as newer.
7- Landscaping
Curb appeal is everything. When a potential buyer is turned off by the exterior of a home, they are less likely to bother looking indoors or at additional photos. By adding simple but appealing curb appeal, you can increase your home’s value significantly. Clean lines and simple landscaping help increase a home’s value without the homeowner spending a fortune to make it happen. Landscaping typically brings in a one hundred percent rate of return on your investment.
