What Sort of Home Additions
Increase Your Equity?
home equity articles and tips
Are you itching to update your property? Is a stale design keeping your mood low? We have four ways home improvement projects can add value to your home.
Small Projects Pay More if You Use Cash
NerdWallet tells readers to pay out-of-pocket for small updates. To afford the cost of a new entry door or adding more insulation, you can save a portion of the average cost over a few months or year until you can pay cash for small repairs. NerdWallet also says that most repairs give homeowners over a 60 percent return on their investment.
Bathroom and Kitchen Updates
HGTV says you can get over 100 percent back for updating your bathroom. Glazing an old bathtub instead of replacing it and taking the time to remove old caulk before adding new make huge differences in home value and interest if you sell your home. Kitchen backsplashes, hardware updates, new lighting, and modern appliances are a few things that increase the value of your house. Stone counters, hardwood floors, and custom blinds are other smart updates.
Yard Features Add Curb Appeal
Adding new items like a concrete garden path or a fire pit can increase the value of your property by extending the living space. Beautifying your yard will draw the buyer’s in on open house day. A stunning property gives you plenty of space to enjoy the new feature if you are selling it. If you are staying put, then adding a dream feature like a goddess statue with a gravel path, a fountain, or hanging plants can transform your property into a unique space.
Energy Efficient Windows
Getting new windows with a high R-rating can net you a 90 percent return on your investment. Hotter climates may not see the same returns, but over 60 percent is still good. If you do not sell the house, then you get the benefits for years to come. New windows cut down on drafts making the house more comfortable. They protect your furniture and fabrics from UV rays. The windows also reduce heat and cold transfer keeping your home cooling and heating costs lower. Dual and triple-pane windows, argon gas between the panes, and Low-E coatings provide further savings and protection.
Fixing up the exterior of your house and paying close attention to the baths and kitchen are two ways to add the most value to your property. Updating appliances, switching out old fixtures, and creating an outdoor oasis also add equity. Renovations that increase square footage and living space add value whether they are indoors or outdoors.
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