Boost Your Home Value With These 6 Affordable Renovations
When trying to add value to your home, it is important to make smart renovation choices that will give you a better return on your investment. Here are 6 ways to fix up your home, that are extremely effective is paying for themselves when it comes to resale value.
1) Change Up Your Color Scheme
One of the best ways to add value to your home is by adding a fresh coat of paint to your inside walls. Studies show that homes with a fresh coat of paint in neutral tones such as a gray or beige can increase your sale price. Plus if you are willing to do the work yourself, repainting can be one of the cheapest ways to spruce up your living space.
2) Have A Beautiful Lawn
Putting a little bit of energy into lawn care can go a long way. A park-like yard that has been properly fertilized, watered, and maintained can add value to your home. According to a recent survey by the National Association of Realtors, if you spent $330 on your lawn care, then you would get a return of $1,000 at sale.
3) Proper Insulation Is Important
According to the U.S. government's Energy Star program as many as 9 out of 10 homes in the U.S. are under-insulated. The best way to check to see if your home has proper insulation is to make sure you have at least 11 inches of fiberglass insulation, or 8 inches of cellulose insulation in your attic. By adding the proper amount of insulation to your home, you could cut your heating bills by about 10% according to the Environmental Protection Agency.
4) Replace Old Windows
By replacing old windows with new, energy-efficient windows, you can save between $25-$450 a year in heating and cooling costs according to the government's Energy Star Program. New windows can not only save you money, they can also freshen up the look of your home.
5) Have Stunning Hardwood Floors
Although hardwood floors are more expensive to install versus carpet, in the long run they should last longer than carpet will. Most carpets only last for about 10 years, while hardwood floors tend to carry a warranty for at least 25 years. Plus you can refinish hardwood floors for decades of beauty.
6) Curb Appeal
Curb appeal can have a huge impact on your home's value. The one project that will deliver the best value of all, according to Remodeling Magazine's 2018 Cost vs. Value report, is the garage door. Replacing an outdated garage door with a more upscale model will increase your home's value by 98.3% of what it costs you to install it.