What Are the Best Home Renovations to Increase Value?
August 29, 2022
Home renovations can be a beautiful way to add value to your home. They can include aspects such as size, functionality, or decor. The first step involves a little bit of research on your part. It’s helpful to take a look at homes on the market in your price range and note what those owners have done with their interior and exterior. In addition, take a look at your home and make a note of any grievances that you have. Here are some of the best home renovations to increase value.
Consider Installing Central Air
Taking the time to install central air conditioning is one of the best home renovations to increase value. It can be smart, especially if you’re trying to sell in hot market areas. Choosing AC maintenance services is essential to maintain this system, as well. If in doubt, always consult a professional before making any significant changes.
The best time to install central air is when you buy a home with no central AC installed. You’ll need to vacate the premises during the installation process, so getting it done before you move in is a smart choice to make. Don’t stop there, though. If you add new insulation, your home will warm up less during the day, making your house attractive to prospective buyers. It means your old furnace doesn’t need to run as often, saving money on heating costs.
Invest in a New Roof
Investing in a new roof is one of the best home renovations to increase value. A roof is one of the most expensive parts of a home to repair or replace. That’s why it’s crucial to have a pro inspect your roof yearly and well ahead of time for any significant repairs.
Investing in a new roof is one way to prepare for this possibility. Some roofs may not need replacing for decades, but this can happen quickly with unstable ground conditions in many regions with houses built on dirt, not bedrock. It’s always best to be financially prepared when something like this happens so that your house doesn’t go into foreclosure or you lose equity. Make sure you also have enough home insurance to protect your investment.
Investing in your roofing system is one of the best home renovations to increase value. A well-installed and maintained roof will keep the interior of your home dry, protect it from fading and cracking, maintain insulation standards, and prevent your ceilings from leaking. A new roof can be responsible for as much as 60% of a home’s value. Homeowners should also consider plenty of other types of renovations to capitalize on their property’s worth potential.
Replace Old Plumbing Fixtures
If you’re thinking about remodeling your house, it’s essential to consider the best home renovations to increase value when you sell it. Replacing old plumbing fixtures is one of the best home renovations. By updating your home’s decor and design, you can dramatically increase its value so that it will be worth more to potential buyers.
It might sound like a lot of work and expense, but upgrading old plumbing fixtures is one of the easiest projects homeowners can do to increase their property’s market value. Replacing outdated and inefficient plumbing with the help of qualified plumbers is good for the environment as it reduces water consumption. Studies also show that it dramatically increases demand for real estate.
Some factors that influence real estate markets include lifestyle and income level. Just as new paint or new carpet indicates a particular lifestyle, updated plumbing fixtures can be just as influential. When someone looks at your house, they picture it in their minds with the lighting and furnishings they like.
Reassess Your Insurance Policy
It is helpful to reassess your insurance policy when considering the best home renovations to increase value. When your home is well maintained, you get more money back on your investment. If you’re tired of renting as an alternative to home ownership but don’t want to make expensive renovations now, then reassessing your insurance policy might be just what you need.
The first step to reassessing your policy is to choose the ideal perils. Many homeowners do not know they can choose among dozens of homeowner insurance options. If you’re buying a property to rent out, you will likely need renter’s insurance, which covers only fire, lightning, and vandalism. These are the most common risks for rented homes. On the other hand, homeowner’s insurance covers many events. Depending on your coverage, it can be much more expensive than renter’s insurance.
Renter’s insurance covers the cost of replacing items ruined by fire, wind, or water. It also reimburses renters for their losses following a theft. You can buy this coverage under your homeowner’s policy.
Reinsurance is an insurance company that reimburses an insurance company on behalf of its insured if the insured fails to have enough reserves to cover a claim. It is included in your homeowner’s policy at a minimum level in most states, although varying by state. A renter’s coverage costs much less than if you purchased it separately.
Install New Floors
Installing new floors is among the best home renovations to increase value. There are many types of hardwood floors. The flooring type you choose will depend on your budget and needs. Solid wood planks are the most cost-effective but require more labor because there is no underlayment such as plywood or an engineered layer; therefore, someone needs to install them. Prefinished solid wood planks are the most expensive but have the best look. Prefinished engineered plank systems and prefinished floating lumber are less expensive than solid wood planks.
A homeowner can install new floors to sell or enhance a home’s resale value. If you’re contemplating adding a floor, get expert advice from professionals who have experience with high-end residential construction and building custom homes.
Most improvement contractors offer options for installing new floors in your house that do not require any excavation work, which is essential because it saves time and money. Use a contractor with experience doing this job as they can lay out the new floor plan to make sure there are no obstructions to these systems.
Marble and wood flooring are ideal for bathrooms and kitchens because they have a hard-wearing surface, making cleaning easier than carpeting. It is wise to use an expert contractor when installing floors in these locations because the design of these rooms is different than other parts of your home.
Put up a Nice Fence
Putting up a nice fence is one of the best home renovations to increase value. It may seem pretty straightforward if you consider adding a fence to your property. There are other variables to consider than just the price and the visual appeal of a particular type of fence. For the best results, you must carefully consider what type and style will work best for your goals.
There are various reasons to add fences, which will help determine the style and budget priorities. Adding a fence, particularly landscaping fences with cyclone wire, can add extra security to your home. If you are concerned about break-ins, maybe a chain link dog fence would work best for you. These solutions are more cost-effective than building an entire wall, which can be expensive, cumbersome, and time-consuming.
A fence adds privacy for the people on both sides of the fence, and it will also help prevent onlookers from seeing what you are doing in your yard. Privacy fences come in various styles and can include hedges, trees, or bushes planted alongside them and various materials for the fencing. You can work with a local fence builder to install a nice fence that suits your needs.
Clean Your House
Cleaning your house is one of the best home renovations to increase value. It is inexpensive and easy but hard to prioritize. Cleaning your house can potentially add thousands of dollars in value. Clean clothes, fresh air, and a healthy family lifestyle impact your home’s value. If you want to put your home on the market or buy a new one, try to get into a routine of pressure washing services for your house frequently.
Remember that the appointment setting company will only ask you what days and times are available. Once you schedule a cleaning appointment, you should go through the cleaning checklist. It should not take more than two hours to clean your house, and you should do it at least once every six months. The average homeowner spends only an hour cleaning per week. If people got their act together and cleaned each week, they would have saved themselves time and energy. Cleaning habits change over time, so when people start at a later age, they tend to do more things throughout their lifetime.
If there is a section that needs special cleaning, like the carpets, some furniture items are difficult to move alone. If something happens, such as when someone spills red wine on your lovely living room carpet, or if there’s an accident with pet stains, you can call a cleaning service to remove this stain without damaging your carpet.
Ensure there are no children and pets in the house when you clean. You should also make sure that there are no other important meetings or appointments during the period when you will be cleaning.
Beautify Your Outdoor Spaces
Beautifying outdoor spaces is one of the best home renovations to increase value. Fortunately, it’s also one of the easiest to achieve. All you need are some simple home renovations and landscaping techniques.
Patio installation is one of the ways to beautify your outdoor spaces. Look for a professional installer in your area to make your outdoor living space inviting and attractive for entertaining family and friends.
Before hiring an installer, you must ensure that they have all the necessary qualifications. You need to verify if the professional has a license to practice and if they are insured. You should also ask the person to show you their portfolio of past works to give you ideas of what to expect when done with your project.
You may want to talk with other homeowners who have benefited from decorative stone installation and get their opinions about these professionals. You can also try browsing online for reviews from previous clients, so you will be guided accordingly on which service provider is best for your project.
Plant New Trees
Planting new trees is among the best home renovations to increase value. Start by getting rid of any dead trees and removing any bushes that are diseased or overgrown. Trim hedges when necessary and keep gardens well maintained with monthly visits from a tree service provider. The next thing you can do is define your land area. There are two types of landscaping: natural and formal.
Natural landscaping is more modern and relaxed, while formal landscaping is more classical and formal. You can decide which one you prefer. The key thing for both is to ensure the yard has a distinct boundary line separating it from the neighbor’s yard. It will make your garden look more professional and attractive to potential buyers.
Once you have your land area defined, think about what type of soil you have and what plants would work well there. For example, plants like rhododendron will do well if you have hard soil that doesn’t let the water go through it. If you have sandy soil that has good drainage, choose plants like that type of soil, like hibiscus.
To create distinct boundaries, you can group similar shrubs and keep flowers and different shrubs at opposite ends. It’s also best to place more giant trees or bushes in the middle of a bed so you can walk around it without having to trample on the plants around the edge.
In conclusion, you can do many things to increase the value of your home. But if you want to increase the value of your home while also adding more living space, you’ll need to have a building permit and hire an architect or designer, but it’ll be worth it in the end. While the smaller projects usually don’t require building permits, they may not be best for your finances. Home renovations are one way to make money as property values rise. Knowing the best home renovations to increase value can make all the difference in quality and value.