Top 10 Home Improvements that Pay Off - E-PersonalFinance

Top 10 Home Improvements that Pay Off

Feature Main Image

If you’re a homeowner, it pays to think about both the present and the


If you’re a homeowner, it pays to think about both the present and the future when it comes to making home improvements. Consider which improvements will make life better for you and your family in the short-term; then learn how these improvements will affect your home’s value, should you decide to sell your home down the road. Start with the basics—first focus on home improvements that are more functional than decorative. Adding a hot tub room may appeal to you, but may not interest another potential homebuyer. Improvements that make a home safer and more structurally sound have a broader appeal. Consider the area you live in and what home features are important in your region. Compare your home with your neighbors’ homes. Your home should not be the only residence on the block with extravagant improvements, unless other homes have the same features. In addition to the tips in this article, consult with organizations like the National Association of Realtors, which can provide resources and information on which home improvement projects bring the most value.

Consider these top 10 home improvement investments:

1 Central Heating and Air-Conditioning

If you live in a home without central air, consider adding it. Central heating will make life in your home more comfortable. The everyday comfort and increase in selling potential afforded by central air can bring a good return on investment.

2 Minor Kitchen Remodeling

Kitchen remodeling will help make everyday life easier for you and any future owners of the property. Many kitchen remodels are known to bring some return on investment. Most everyone spends some time in the kitchen, whether for regular cooking or socializing. A minor remodel may bring a higher return in selling potential than a major one. A major remodel may seem too fancy for some buyers or can inflate the home’s value too much in comparison to other houses in the neighborhood.


3 Bathroom Improvements

Adding a bathroom (full or half) or improving an existing one (such as adding a whirlpool or oversize tub) is a great home improvement. Having more than one bathroom is particularly valuable for families with children. Giving the bathroom a major or minor remodel should add to your home’s value.


4 A New Roof

The condition of a roof is of prime concern for potential homebuyers. Adding Energy Star reflective roofing can considerably increase your home’s energy efficiency, so consider this option. Determine the condition of your roof by having it inspected by a licensed contractor, along with the attic, when possible. A new roof can be costly, but is a good investment for the structural soundness of your home.


5 Updated Gutters and Drainage System

Regularly inspect the gutters and drainage system to make sure they are in proper working order; this can reduce the chances of costly water damage.

6 New Siding

If your home has siding that needs replacement, make the investment by updating it. You will enjoy the improved appearance and protection. Potential buyers will appreciate these improvements.


7 New Windows

Good windows can improve the appearance of your home and can reduce heating and cooling costs. Investing in high quality windows is preferable to replacing them with cheaper models.
Also consider the aesthetic appearance of windows in older homes. Some buyers appreciate the architectural details of older homes and may not appreciate major changes here.

8 Plumbing/Electrical Improvements

Plumbing or electrical issues are a safety factor and should meet current building and safety codes. Again, prospective homeowners expect these things to work flawlessly. Installing more modern lighting systems and fixtures may add to the value of your home, as will updating any outstanding plumbing issues. 

9 Adding/Remodeling Spaces

Expansion is a good improvement, whether you add a new room or remodel an existing one to make it more comfortable and convenient. New family rooms are a great selling point. Remodeling or finishing a basement or attic room is also a good way to add value to a home.

10 New Deck

A deck will make your home more attractive, especially in areas where year-round mild temperatures prevail. However, the deck should not impede too much on yard space, as this may be undesirable to certain homebuyers. A deck is ideal for smaller houses, as it can increase the usable space.

 
  • Question & Answers
  • Quizzes
  • Word of the Day

    Merger

    A "merger" is the combination of one company with another, typically through an...

  • TIP OF THE DAY

    What is a wage garnishment?

    Wage garnishments, which are governed by state and federal laws, are generally created...