As the real estate market is still going through a sluggish state of recovery, increasing number of homeowners have decided not to sell off their homes. They’ve instead chosen to stay right there until things in the market get better. There are many who had their homes on the market for 2 years and after meeting with failure in the markets on 2 different occasions, they’ve decided to cling on to their homes until the real estate industry improved. Rather than just staying in your home, why not think about some ways in which you can improve your home and make it more comfortable and also increase your home value for the future? There are some home improvement projects which can add value to your home and if you’re not aware of them, here are some that you may consider.
- Remodeling the kitchen: Majority of the people deem the kitchen to be the heart of the home and as per HGTV, you may expect to recuperate 60-120% of the investment that you make on a kitchen remodel. One thing you should keep in mind and that is you shouldn’t ever make the kitchen fancier than the rest of the house. If the size, quality and style of the kitchen don’t match with the rest of the house, it won’t help you multiply the value of your house. Hence, keep your neighborhood and future buyers in mind before you start off with a major model.
- Addition of another bathroom: If you think one bathroom is not enough for your home, you can again get back a large portion of your investment by adding yet another bathroom. Take a close look at the extra rooms and those underutilized spaces like the space under the stairs. You will need at least 18 square feet even if you need a half-bath and 30 square feet if you need a full bath. The cost of adding a bathroom depends on the types of accessories and additions which you would like to use.
- Add energy-efficient windows: Nowadays most buyers shop for homes that are energy-efficient so that they can save their dollars on electricity bills. In fact companies like Quick Connect Electrical also report the rising demand of energy-efficient appliances only to save on utility bills. You can easily recoup 70-90% of the costs whenever you invest in energy-efficient windows. Homeowners can also get a green energy tax credit of 10% for such an upgrade by installing Energy-Star rated windows. The average cost of replacing a window in a home of an average-size costs you $7500-$10,000 or a little bit more than that. Hence the new windows can definitely save you hundreds of dollars.
If you wish to raise your home’s value, you should opt for repairing them like hot water repairs. You will read on to know more on hot water repairs. Apart from fixing such issues, you should take into account the home improvement tips mentioned above.