Each year, Americans spend at least $400 billion on home repairs and renovations. This includes minor repairs, major additions, and gut renovations.
A home is likely to be the largest purchase you will ever make. It is, therefore, crucial to budget your renovation funds wisely.
What improvements can increase the value of your home?
We can help you decide which projects will increase your home's value and which will make you happy. For the best ways of adding value to your home, read on.
DO YOU WANT TO IMPROVE THE CURB APPEAL OF YOUR HOME?
The curb appeal of your home is how it looks from the street. Adding value to your home by improving its curb appeal is one way to do that. 94% of realtors believe curb appeal can add value to a home sale. If you are planning on selling your home shortly, curb appeal is particularly important.
Low-cost tasks like trimming your hedges or power washing your siding can be done. You can also paint your front doors, change your porch light fixtures or buy a new mailbox.
Because curb appeal can influence people's perceptions of your home, it is an important tool. Even if your home isn't for sale, great curb appeal can make it feel more welcoming.
ADD A LAUNDRY ROOM
According to the National Association of Home Builders, a laundry room is one of the top features that all buyers are looking for. Although most homes already have washer and dryer hookups and sometimes appliances, an extra feature can make a home more appealing.
Consider moving your laundry room to the first floor if you have the space. First-floor laundry is becoming more popular as a result of many older people moving to smaller homes.
You can also install shelves for laundry supplies and a folding table. You can expect a return on your investment for any money that you invest in laundry room upgrades.
DO NOT REMODEL YOUR BATHROOM
You may have noticed that outdated bathrooms can be a major turnoff for home improvement shows. It might be time to refresh your bathroom if it hasn't been updated since the 1980s.
However, you don't want to spend too much on a bathroom remodel.
Keep it simple if you want to increase value. A fresh coat of paint, new vanity, and a modern light fixture can do the trick in most cases.
The exception to this is if you live in a luxurious area. If you live in a luxurious area, gutting your bathroom and installing a luxurious tub and shower could help you sell your home faster and for more cash.
REFINISH YOUR GARAGE FLOORS
Many buyers are searching for that perfect garage space. Many buyers are looking for a garage to store their vehicles, lawn equipment, or even a workshop.
Refinishing the garage floor can make your home more valuable. Consider coating your garage with ArmorFloor. Our garage floor coatings protect concrete from unsightly oil stains or scrapes. It will not fade over time, so you don't need to worry about that.
You can give your garage floor the same high-end finish you would expect from a luxury home for a small price. This will make buyers smile without costing a lot.
A KITCHEN REMODEL IS NOT FOR YOU!
The cost of a complete kitchen can run into the tens of thousands. Keep this in mind when looking to renovate your kitchen. It might be worthwhile if you are doing the renovation for yourself, but if you plan on selling, you may not get your money back out of it.
The trends in kitchen design change every five to ten years. It may not be a wise decision to spend too much on a kitchen remodel.
You will get the best return on your investment if you make small upgrades (e.g., within the range of a few thousand dollars). Get a new kitchen faucet or replace your drawer and cabinet pulls. You can also replace your cabinets doors with new ones or get new countertops.
CONSIDER HARDWOOD FLOORS
In the past decade, hardwood flooring has seen a significant resurgence in popularity. Hardwood floors are a top choice for potential buyers. You can easily clean them, they are timeless, and you can change up your decor with an area rug.
It is a great way to increase the value of your home by replacing your hardwood flooring. You can expect to recover as much as 106% of the money you spend.
It's a great opportunity to update hardwood floors in your home if you have always desired them.
REPLACE YOUR OLD ROOF
Another way to increase the value of your home is to replace your roof. Although homeowners fear the expense of replacing their roofs, it is an essential part of maintaining a home.
High-quality roofing will protect your home against water damage, mold growth, and structural damage. A newer roof can be a selling point if you are looking to sell your house.
You'll get back the same amount you spent on your roof replacement.
These ideas can be used to add value to your home today.
It's easy to believe that home improvement will increase the value of your home. A renovation might add personal value, but it may not translate into dollar signs.
It is important to make small improvements in your kitchen and bathroom while saving money for major upgrades such as hardwood flooring or a new roof. You can add value to your home by adding a laundry area, transforming your curb appeal, and refinishing the garage floor. All of these things are cost-effective.
ArmorFloor can help you upgrade your garage floor. It gives you an attractive garage floor coating that will last many years. Get in touch with us to find out more about all of our floor coatings today.