Unlike a vehicle, your home doesn’t begin to depreciate minutes after you’ve made the down payment. By enhancing your home with the right projects, you can add to its value. Look for the improvements that will give you the highest return on investment (ROI) like the following eight investment projects.
1. Refresh the Interior Paint
After a few years, the walls of your home are bound to get dings, nail holes, and general wear and tear. A new coat of paint indoors will add enjoyment to your home and is especially a good ROI if you’ll be putting your home on the market soon. All the rooms will look better in photos and virtual tours.
2. Update to a Smart Home
Attract homebuyers by installing smart home systems updated with the latest technology to automate tasks and control them remotely. Set and monitor a security system, increase efficiency, and save energy, enhance entertainment, and much more. Smart homes aren’t a fad, they’re here to stay with millions of smart homes worldwide.
3. Renovate the Kitchen
Home shoppers notice kitchens right away. Don’t go overboard to renovate the kitchen. Start with small improvements such as a new kitchen faucet, and an attractive backsplash. Replace old light fixtures with modern energy-saving ones. Rather than replace cabinets, hire a professional to resurface them. Only invest in new appliances when it’s necessary.
4. Enhance Your Curb Appeal
The exterior of your home is the first thing passersby notice. Make yours shine by simply pressure washing the siding and walkways. Paint the front door or replace it with a new steel one. Simple things like new house numbers, an updated mailbox, and planters with flowers will work wonders.
5. Increase Energy Efficiency
During the home-selling process, an inspection is generally conducted. It will be noted if your home has drafty windows and doors and lacks insulation. Sealing around doors and windows and adding insulation to your attic or even an updated HVAC system will pay for itself after time.
6. Add a Space for a Home Office
Advances in technology have made it easy and popular to work remotely. A dedicated space for a home office is a good investment and one you’ll find useful. Look for creative ways to add a home office space. Ideas range from enlarging a closet to adding a backyard accessory dwelling.
7. Convert the Basement to a Living Space
Do you have an unfinished basement? Or perhaps you only use it for storage. Finishing out a basement and turning it into a living space with furniture is one of the best ways to add value to your home. If using it for storage, redistribute your stuff and turn it into an inviting den. You’ll enjoy the extra space and homebuyers will find it a plus.
8. Upgrade Your Lighting
You need good lighting to make your home safer, and more functional and to showcase its best features. Lighting is especially important in homes that don’t have enough natural light. Install modern fixtures with LED bulbs. Hanging mirrors on walls will also add ambient light.
