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Home Improvements That Pay For Themselves

Home Improvements That Pay For Themselves
by Olivia Elsher - October 27, 2022

Remodeling the house can be a challenging but rewarding task. You may endure a few weeks of hammers and drills waking you up and scaring the pets, but it will be well worth it when you finish the project. Renovations can be fun do-it-yourself (DIY) jobs, but they can also be profitable ventures bringing financial incentives later. Here are seven home improvement projects that pay for themselves.

1. Landscaping the Front Yard 

If you’re thinking about home value, one of the best improvements you can make is to your front yard. Potential buyers visiting your house will see the landscaping out front before they see anything else in your home. So upgrading this part could significantly help lure possible suitors to your house.

Curb appeal means a lot these days, and there are many options for making your property look enticing. You could start by planting flowers because they’ll add lively and inviting colors. Shrubs and trees are a long-term investment, but they’ll pay off in a few years. If you want a tree, plant it away from the building, so it doesn’t become a liability. Also, you’ll want to plant trees that are low maintenance because required constant attention could deter buyers.

2. Energy-efficient Windows 

A renovation that will pay off in the short and long term is replacing the windows. Your house’s central air and heating system depends greatly on the insulation. Your windows are among the most important places for natural light. Still, they can also lead to high temperatures if they have poor insulation. 

Energy-efficient windows can come to the rescue to keep your home at a proper temperature and save money on utility bills. Most energy-efficient windows are double-paned, meaning there are two layers of glass. These thick windows insulate your house from extreme temperatures and noise. When your interior’s temperature is stable, your HVAC system doesn’t run as much, lowering your energy usage and carbon footprint.

3. Painting the Walls

Another project on the easier side of DIY tasks is painting. A fresh coat of paint on the exterior can be a terrific upgrade that pays for itself later if you’re looking to sell your home. One benefit of painting projects is they are on the lower end of costs for home improvement. The price range for an exterior paint job is between $1,800 and $4,500. The average will be closer to the $3,000 mark.

You’ll also want to consider the interior when repainting your house. Typically, you want to use neutral colors because they appeal well to buyers. Gray and beige offer safe colors that make people feel welcome. White can be a good color because it’s light and makes your rooms look bigger. However, you should proceed cautiously because some may find the white uninviting or dirty.

4. Remodeling the Kitchen

Remodeling the kitchen is a prevalent DIY task for those looking to give their house a more modern look. Sometimes, old homes can have outdated kitchens with stale designs. Some people may enjoy the antique look, but undertaking a kitchen renovation can be fruitful. Kitchen remodelings have a high return rate on the profits, garnering around 90% of your initial investment.

If you’re looking for kitchen remodeling ideas, try to pick projects that will age well in the future. Heavily personalized designs may be less appealing to buyers, so you don’t need to go overboard. For example, you could install new cabinets or a kitchen island. Buyers love kitchen islands because they bring a social aspect to the area. Incorporating one in your kitchen can be ideal for a kitchen remodel.

5. Constructing a Swimming Pool

Building a swimming pool is an excellent investment for the long-term value of your home. And it can provide many fun days for you and your family during the hot summer months. One thing to consider about a swimming pool is its ongoing maintenance. You’ll have to clean the pool regularly, test the water and inspect the skimmers. Then there are the utility costs for keeping the pump running. 

The long-term benefits of installing a pool can be fruitful, though. An in-ground pool in the backyard will be attractive to younger buyers, especially those with children. The resale value of your home will increase by about seven percent. If you’re looking to the future, a concrete pool will be among the best options for your pool because it’s durable and customizable.

6. Sprucing up the Basement 

The basement can make a significant difference in your resale value. Imagine turning this space from a storage room collecting dust into an extra bedroom or a game room. That type of upgrade is another thing families will find as a positive factor when looking to buy a home.

When considering the basement, you may want to start by cleaning. This underground room can become dirty and damp. Moisture is another issue to deal with because it could lead to mold. You should seal your basement walls to prevent moisture from entering the room. Another renovation project could be installing carpet or vinyl. Most basements have a concrete floor, so swapping it out can make your home more appealing in the future.

7. Installing Solar Panels on the Roof

Sustainability has become a more prominent detail for consumers these days. Experts warn about climate change and its effects on the planet, so people have gravitated towards more environmentally conscious options in their daily life, including the makeup of their houses. The double-paned windows mentioned above are an excellent place to start. After that, the roof would be another worthy venture.

Installing solar panels on the roof has become a trend for those interested in energy efficiency and sustainability. The primary benefit is the solar energy gained from the panels. Drawing power from solar panels means you’re less reliant on traditional energy sources in your home. The panels don’t require much maintenance and can protect your roof from sunlight, tree limbs, and other possible damage.

Remodeling for the Future

Renovations can be a challenging but fruitful endeavor. They can take a long time and require a lot of manual labor if you do it yourself. However, you’ll feel proud of your work when you see the finished swimming pool, remodeled basement, or beautiful flowers in the front yard. Consider one of these seven home-improvement projects because they’ll pay for themselves in the future.

Author

  • John Carlucci

    John has worked alongside Real Estate Giants across USA and Canada for decades. Since he started Prudentialcal, he has been actively rendering service as business adviser to many companies in the real estate industry. He formed Prudentialcal in hopes of providing the most reliable stories and information there is in the vast industry of real estate

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