Before you look at paint chips, make sure your home upgrade will not chip away at the value of your home. Home improvements that do not have broad appeal, alter the historic character of your house or look outdated can lower your home’s value. The most common of these are:
- Lavish lighting fixtures
- Converting a bedroom into a closet
- Overly textured walls and ceilings
- Bright and bold paint colors
- An extremely high-end kitchen
- Combining bedrooms
- Lowering ceilings
- Sunrooms
- Outdated Tile
- An inground pool
You want your home to reflect your taste, but remember, your home’s value is in the eye of the future buyer.
Most Americans would rather remodel their home than purchase a new one, according to the Zillow Housing Aspirations Report. This is probably why channels like HGTV reach more than 86 million households in the nation. While home renovations look great on TV, they can be challenging if you do not know what you are doing. The key to not wasting money is knowing how to increase your home’s value through remodeling. – Wealthbuilders.org
DIY Projects Help but Big Upgrades Produce Real ROI
Upgrading your mailbox, swapping out dated fixtures on cabinets or adding a porch swing are small ways to raise home value. However, investing in big upgrades with wide appeal are your most secure investment, and contractors can help advise you on what sells. The most common of these are:
- Privacy Fences
- A Finished Basement
- HVAC Cooling and Heating Systems
- Exterior Stone Veneer or New Vinyl Siding
- New Front Entry Door
- A Midrange Kitchen Remodel
- Remodeling Bathrooms
- Smart Home Upgrades
- Opening Up Floor Plans
- Adding a Deck or Patio
- Backyard Ball Courts
Don’t Improve What Can’t Be Improved On
Remodeling should enhance, not change, your home’s historic charm. Homebuyers are often looking for a distinct architectural style, from mid-century modern to craftsman, and homes that preserve their original style grow in value. Each year, Remodeling Magazine publishes a Cost vs. Value Report that tracks the ratio of value over cost on various remodeling projects in 150 US markets. Click here to read HGTV’s review of the data and their expert advice to provide additional insight >
When You Move, Your Home Should Move Fast
You will probably eventually move, so make the upgrades that are a smart move in the housing market. A home equity loan from Heritage Valley is a great way to fund the projects you want to do around the house or pay for other large purchases.
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