Most basic upgrades are going to add at least some value to a home, but not every project is going to have an identical return-on-investment.
Current home owners looking to get the most out of their remodeling budget should take a look at these four upgrades and projects that will instantly increase the property value of their home while making it more enjoyable to live in.
- 1. Update Fixtures and Appliances
Most housing market specialists agree that it is the kitchen and bathrooms that are going to increase the value of a home quicker than almost any other project. For current owners that are not ready to invest a huge lump of money into these rooms quite yet, updating fixtures and appliances is often enough for an affordable room makeover. Ensuring that these items match and are made of timeless materials such as polished steel will instantly improve the room’s look.
- 2. Create Space
An open floor plan is one of the biggest draws for buyers and rooms should appear to be as large as possible. Knocking out walls, ledges, and kitchen islands is actually quite affordable and can be done in as little as a few days with a local contractor. By performing major renovations in Grey Bruce or elsewhere, an owner can increase the square footage of their home while making it appear to flow better, thereby increasing the property’s value over the long run.
- 3. Add a Closet
Adding a closet to almost any room is going to have a number of benefits. First, buyers are looking for property that has as much storage space as possible, and the sight of easy-to-access closets in rooms throughout the house is a bonus. The second benefit is that a closet can turn extra rooms into bedrooms with a return-on-investment of 80 percent or higher. The only major difference between a study and a bedroom is a closet.
- 4. Home Insulation
Owners that are within a strict budget may need to steer clear of structural and mechanical changes and stick with smaller updates such as redoing a home’s insulation just before putting it on the market. Insulation is one of the few projects that most owners will be able to completely carry out by themselves in just a few hours. This is also a great time to grab some caulking and begin plugging up cracks and holes around drafty windows, vents, and doors.
Whether you are looking to update your home’s look to make it more welcoming or ready to put it on the market, these simple upgrades and projects are always a great financial choice.
Guest Post: A recent college graduate from University of San Francisco, Anica loves dogs, the ocean, and anything outdoor-related. She was raised in a big family, so she’s used to putting things to a vote. Also, cartwheels are her specialty. You can connect with Anica here.
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