One of the most challenging aspects of home ownership is trying to improve the value of your investment. Some homeowners may be lucky enough to have invested in an area where property values keep rising, but many will need to work on their homes to get their desired increase in value.
Not all home improvement projects are created equal, however. But even when you’re not looking to sell your home soon, it would be great to spend money on a project that can make your home stand out in terms of both form and function. To get you started, here are some of the best home improvement projects for improving property value:
- Kitchen Remodeling
OPEN SPACES: Many find kitchens with spacious and open layouts attractive.
Any homebuyer will admit that a fantastic kitchen will always sway their buying decision. For some homes, even a minor kitchen remodeling job has the ability to increase the value of the home. In fact, according to the National Board of Realtors, a minor kitchen remodeling job that costs below $20,000 will usually have a return on investment close to 80%.
When remodeling the kitchen, you’ll need to consider the best layout, cabinet designs, and even the countertop material. It’s easy to go crazy on a kitchen remodel, and the result will definitely come out fantastic, but you’ll also need to be careful not to go overboard to get the best returns on your investment.
- Bathroom Remodeling
Next to kitchens, bathrooms are another factor that can affect property value. A house may have a beautiful living room, patio, and a view, but if its bathroom is undesirable, it’s unlikely to attract a lot of attention from buyers. ROI rates may vary. but most bathroom remodels will have recoupable costs of at least 66%.
To make the most of a bathroom remodel, first consider increasing the space of the room. Take note, however, that this doesn’t always mean major construction although you will have to improve your bathroom’s layout. Your choice of bathroom tiles, lighting, cabinets and overall design will also influence how much value a remodel will bring.
- Roof Replacement
Getting a new roofing system is an effective way to bump up property value because your roof is a major component of your home, greatly affecting its form and function. Many homeowners simply get the same roof they’ve always had but don’t hesitate as well to get to know what other options have to offer.
For example, asphalt shingles will be attractive to many homeowners, but slate and metal roofs can also be advantageous depending on the location of the home. Always try to create a perfect balance between practicality and appeal to ensure that you’ll have the best ROI on your roof.
- Window Replacement
Like your roof, your windows play a huge role in your property’s value because of how they affect form and function in the home. Old, faulty windows can take away from your home’s curb appeal, but they can also make living inside uncomfortable, no thanks to letting outdoor heat in and indoor heat out. Do a window replacement, however, and you can turn all of that around, making your home attractive and energy efficient.
Always take into consideration the overall architectural design of the home when choosing new windows. This is because while technically all windows can be used on any kind of home, there are certain styles that complement certain home types more than others. To help ensure you zero in on the best window replacements for you, consult with a trusted home improvement expert in your area.
- Home Additions
HIGH-VALUE ADDITIONS: Exterior additions like decks, patios, and porches can do a lot to improve form and function in a home, boosting property value.
Homeowners usually want a deck, porch, basement game room or an extended patio where they can entertain their guests. As such, if you are n the market for a home, these home additions would convince you to make the purchase. Home additions improve the value of the home, especially if they increase the floor area and improve the curb appeal at the same time.
Other home additions that increase the home’s value are an extra bedroom and bathroom. Increasing the size of the garage is also popular. If increasing floor area is not an option, then converting certain areas of the home will also be effective. Some good examples would be converting the attic into an extra bedroom or the basement into a den or game room.
- Siding Replacement
FIRST IMPRESSIONS LAST: Want your home to turn heads for the right reasons? Make sure your siding is in tip-top condition.
One of the first parts of your home anyone will notice is your siding. Think of it like icing on a cake. If the siding is in great condition, any home will make a great first impression from the curb. But while siding replacement offers a massive improvement in appearance, it’s great for home improvement because it is one of the more affordable projects around with high ROI. By changing your home’s siding, you can improve your home’s value more than you may realize!
When choosing siding, consider extra long or seamless panels, and a deep profile. Carefully choose the type of siding material as well, factoring in the challenges that your local weather brings and the siding’s maintenance requirements.
Making the Most of Home Improvement
Big or small, home improvement projects are investments into your property. As such, you want to make the most of them, reaping the most benefits for what you spent. It’s critical to choose the right home improvement project to do, but it is also just as important to be mindful of who you entrust the job to. Make sure you work only with a trusted home improvement expert in your area, and you should be able to guarantee your project’s success.
Bob Carp is the owner of Nuss Construction, a home improvement company that has been serving the Southern New Jersey area for more than 49 years. A dedicated home improvement and construction professional himself, he is passionate about helping homeowners find the best solutions for their homes, aiding them with kitchen and bathroom remodels to roof and siding replacement and everything in between.When not busy with field work, he loves spending quality time with his family and volunteering for various causes. Check out the company blog for updates from Bob!