Homeowners spend hundreds and thousands of dollars on remodels every year and bathroom and kitchen renovations seem to be the top choices for home improvement projects. Of course, you can choose what upgrades to go for depending on what you actually need. However, you should also consider how long you intend to live in that property before you decide on the project and the budget you’d allot for it.
If you are thinking of selling it in two to three years, it would be a lot wiser to go for projects that bring a higher return on investment. If you are a homeowner who is also seeing yourself purchasing a new home sooner rather than later, then you should also consider having work done that would help boost your home’s curb appeal.
Here are other ways you can max out your home’s value:
Do not underestimate small details. Sometimes the biggest returns come from smaller upgrades like simply adding veneer to your exterior, replacing front doors or garage doors, and some minor changes in the kitchen.
Prioritize energy-efficient projects. There are a lot of products available in the market that can help you save on utility costs, like for cooling and heating, among others. There are ceiling fans, LED fixtures, and more that you can purchase. You can also try caulking windows, installing new doors and windows, and insulating your attic and basement. Of course, if you intend to live in your current home for a really long time you can go for bigger projects like getting solar panels.
Do not put off necessary repairs. Remember that putting off repairs for small problems means you are giving these issues the opportunity to escalate. Of course that means you are going to shell out a whole lot more later on bigger rehab projects. Needless to say, it is more practical to be on top of minor problems no matter how harmless we think they are. Additionally, make sure you have your major appliances serviced once or twice a year.
If possible, stay away from financing projects unless you can get a really low interest rate that you can easily afford. If you have no other means to get a much-needed home improvement done, try your hardest to pay it off within a couple of years. If you can, just opt for projects that you can pay for in cash.
There you go. We hope you can maximize the value of your property using these tips!