Interior Home Improvements That Will Boost the Value of Your Home
When looking to make some updates around your property, it might be challenging to decide where to put your money. You want to get the most bang for your buck, but you also want to pay attention to your needs and the needs and wants of your potential home buyers (when the time comes to sell the property). Plus, it would be best to look for home improvements that will boost your home’s value while avoiding any costly mistakes.
As you can see, there are many factors to consider when updating your home’s interior, which is why you may want to rely on statistical assessments and national data to help you in the decision-making process. Below, you should consider four valuable interior home improvements when looking to increase the value of your home.
Tackle some basic updates
Even the simplest updates go a long way in boosting an interior space’s appeal, and they are often the ones that add the most value to a home. Think from a homebuyer’s perspective – you’d probably want to move into a home that looks like it’s been well-cared for and maintained regularly more than a home that’s been neglected to the point that it has now deteriorated. Buyers want a home that’s solid, safe, secure, and healthy, so before putting your house on the market, make sure to tackle some basic updates.
Start by inspecting your home for any signs of mold and mildew. Then, make sure to check for any problems with plumbing or wiring. Scorching, discoloration and visibly damaged wiring are all signs of faulty electrical wiring that could cause house fires. They may also indicate issues such as a home pest problem, so make sure to tackle these on time. Some other updates to add to your to-do list include fixing the roof, replacing rotten wood, and of course, repainting the interior.
Boost your home’s energy-efficiency
Now that more buyers are concerned with their future home’s energy-efficiency, learning that their potential new home is equipped with ineffective, old, and drafty windows could be a significant turn-off to the prospective buyers. The same thing can be said for old doors and poor insulation. This is because a home that hasn’t been updated to save energy translates to increased expenses and costs more to live in.
On the other hand, an energy-efficient home costs less to run and maintain, potentially saving you hundreds of dollars each year. Updating your home for energy-efficiency doesn’t have to be a costly home improvement project, though. Saving on energy costs can be as simple as making a couple of updates around the house, such as detecting areas that leak air and sealing them, adding an extra layer of insulation to the attic, and replacing traditional light bulbs with CFL ones. Finally, consider investing in energy-efficient doors and windows – this may be a rather expensive upgrade, but you can receive a green energy tax credit and eventually recoup this larger investment.
Keep your home pest-free
Aside from posing a health hazard and having a psychological impact, the presence of pests can also decrease your home’s value. Pest infestation lowers the home’s aesthetic appeal while weakening its structure and increasing repair and renovation costs. Certain pests such as termites are particularly harmful as it can lead to a loss of structural integrity of the house. It can also cause the neighborhood property values to drop by as much as 25%, so you must tackle the problem on time.
When putting your house on the market, it’d be best to rely on companies such as My Bug Guy to find the right solution and ensure your property is pest-free. Companies like these offer multiple pest control services, exterminating everything from termites and bed bugs to rodents and roaches, thus preventing any unwanted pests from bringing down your property value.
Renovate the kitchen and bathrooms
These two home renovation projects are definitely worth your while as they’re considered the most valuable ones. Buyers will often look at the kitchen first to determine if the asking price is justified. While it may be tempting to invest more to get a higher ROI, it’s important to note that a more extensive remodeling project doesn’t equal more return.
Kitchen remodels are said to recoup anywhere from 60% to 120%. A bathroom remodels with a return of around 70%, which is much more compared to adding a new bathroom (54%) or investing in a deluxe bathroom remodel (56%). Your safest bet would be to go for a mid-range remodeling project, replacing the appliances, cabinets, and countertops and updating the fixtures, tiles, lighting, and flooring.
Whether you’re looking to sell your home or renovating for future appraisal, knowing which home improvements to invest in is essential. Tackle these projects now so you can boost your quality of life while also adding value to your property when the time comes to sell.