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Ideas for Home Improvement and Remodeling That Will Increase the Value of Your Home

Curtis Sanders

With the real estate market still in a recession, an increasing number of people are opting not to sell their house. Instead, they've opted to stay put until conditions change. I belong to this group; I had my own house on the market for two years. In two separate times, my house sold and the deal fell through. As a result, I've opted to stay put until the housing market changes.

However, now that I've elected to stay in this house rather than move, I plan to make some home improvements to make it more comfortable (e.g. building a sunroom to combat the dreary Michigan winters, and building a backyard deck).

Many home improvement projects do not increase the value of your home, especially in a down market. In reality, certain enhancements can also reduce the asking price when it is time to sell. Any ventures, on the other hand, will significantly increase the value of your house.

So, what home renovation projects do you undertake and which should you avoid? Here are some useful hints for home improvement projects that can raise the value of your home, as well as home improvement projects to stop at all costs.

Before we get into the various home improvement projects you should or should not do, let's talk about cash. If you wish to make major or minor improvements to your house, you must find a way to pay for them. You should either invest the money or use the equity of your house to get a home equity line of credit from a company called Figure.com.

Many projects bring value to your home and enhance the quality of living for your family. By starting work on these initiatives now, you will be able to reap the rewards and get feedback. If you make renewable improvements, you will begin recouping your investment in renewable energy technology after the programs are finished.

Home renovation improvements that increase the value of a home include:

1. Kitchen Remodeling

Since most people perceive the kitchen to be the heart of the house, updates in this space pay off. As long as you don't go crazy, you can hope to recoup 60-120 percent of your investment in a kitchen remodel, according to HGTV. Never have the kitchen more opulent than the rest of the house or the area.

A little goes a long way when it comes to painting.

When it comes to the cost of a kitchen remodel, premiums can range from $5,000 to $75,000 or more. Consider paint when preparing a kitchen remodel to get the best bang for your buck. A fresh coat of paint in new colors will significantly improve the appearance of your kitchen. Furthermore, paint is relatively inexpensive.

Try using low-VOC paint; this makes your kitchen more eco-friendly and prevents your family from breathing in toxic contaminants like benzene that off-gas from daily fresh paint.

Energy-Saving Appliances

Replace inefficient appliances with more energy-efficient models. Power-efficient machines are safer for the atmosphere and help you save money because they consume less energy. When looking for a new home, many prospective buyers search for opportunities to save money.

Learn more about the perfect time of year to purchase big appliances if you're trying to update your appliances to conserve electricity.

2. Bathroom Improvement

If your house only has one toilet, you can recoup a significant portion of your expenditure by installing another. According to HGTV, you can recoup 80 percent to 130 percent of the cost of adding a toilet.

Consider any spare rooms or underutilized spaces in your home while searching for space for an extra bathroom. Remember other areas, such as closets or areas under the staircase. A half-bathroom needs at least 18 square feet. A full toilet, with a stand-up tub, needs at least 30 square feet. If you want a bathtub, you'll need at least 35 square feet for a bathroom extension.

The cost of installing a bathroom, like every other project, is highly dependent on the kinds of additions and accessories you choose to use, as well as the expense of each of these things. You can save money by visiting Lowe's and Home Depot on a regular basis; they often cut costs on floor model sinks and toilets. If you shop at a Habitat for Mankind Rebuild, you can even find fantastic discounts on tubs, walls, toilets, and fixtures.

3. Redesigning a Space

Adding additional square footage to your house by adding a new space can be an extremely costly undertaking. While you can recoup some of your investment, anywhere from 50% to 83 percent, the costs of this project can easily escalate out of control. Switch on some of those home improvement TV shows and you'll see the projects that began with a $15,000 budget soon balloon to $30,000 or more as homeowners and builders run into unforeseen problems.

To save money, repurpose existing room in your house. Finish a basement or transform an attic into a loft. Many homeowners may even build small apartments in or above their garages, which they can then rent out as rooms.

Before you knock down walls and rafters, consider how you and prospective buyers will use the space.

Potential consumers prefer rooms that can be used in a variety of ways.

Basements are sometimes used as secondary living quarters or game rooms. Many people transform this space into a tiny apartment for an elderly parent or a tenant.

Craft and game rooms also fit well in attics, particularly if the ceilings are high. If you have children, you can hang

swings from the rafters to make a fun play area for them. 4. Installing Energy-Saving Windows

Buyers today opt for residences that are energy efficient. Old, drafty single-pane windows are a major no-no. According to Energy Star, installing Energy Star-rated windows to your house will save you up to $500 a year in heating and cooling costs by making it more energy efficient.

When you invest in energy-efficient windows, you should hope to recoup 60-90 percent of your expenses, according to HGTV. You will also get a 10% renewable energy tax credit for this upgrade if you add Energy Star-rated windows. You may also be eligible for extra credits from the state or utility provider.

Visit the Energy Star Rebate Finder to learn more about eligible deals and rebates in your state. They have a searchable database of information unique to your state. Simply check the box next to "windows" to get product- specific details.

According to Energy Star, the estimated cost of window repair in a typical-sized home is $7,500-$10,000, or more. You will finally recoup your savings as the latest windows save you several hundred dollars a year and you earn a tax refund.

5. Add a Deck

Adding a deck to your house raises its appeal. Outdoor living spaces have become more common, particularly as more people chose to spend their vacations at home (i.e. referred to as a staycation). If you boost the look of your deck and garden, your house would be more attractive to potential buyers when you plan to sell. According to HGTV, installing a deck will help homeowners recoup 65 percent to 90 percent of their expenditure.

The cost of constructing a deck for your home differs greatly. Anything is dependent on the height of the deck and the number of bells and whistles you want included, such as built-in seating, several steps, built-in flower pots, and the size of the deck. Decks will range in price from $1,200 to $10,000 or more. Again, everything is dependent on the design and materials used.

As you would expect, doing the job yourself will save you a significant amount of money, normally half. However, keep in mind that deck building is not an easy task. You would require specialized instruments, such as a bandsaw, and the expense of these tools can be prohibitively costly, particularly if you do not wish to use them again.

If you plan to recruit a contractor, look about before settling on one. Be sure you have at least three detailed quotations from the contractors you interview. Before committing to a deal or job order, carefully review the contractors' credentials, and be wary of home maintenance repair scams. Sites like HomeAdvisor and Angie's List will help you find a reputable contractor.

6.Insulation that saves energy

Home inspections consulting with prospective customers will mention this in their findings if the home lacks basic ventilation and has old doors that let in a lot of heat and cold air. Homes that have not been updated to be more energy efficient cost more to live in and maintain.

Updating your home to conserve electricity does not have to be costly, and it will increase the value of your home to prospective buyers. Simply by making a few improvements, you can save $2,500 or more per year. For example, you can install additional insulation to your attic for as little as $200, and this simple change can save you hundreds of dollars on your utilities bill per year.

Seal holes around the house to save still more money on heating bills and to increase the value of your home. According to the US Department of Energy (USDE), the average house has enough leaks to equal a 33-foot hole in the wall. Over the winter, you can discover leaks in your house. If you feel a breeze or a cool spot, you're in a place where air is escaping. A thermal leak detector can be bought for $40 or less (e.g. Black & Decker TLD100 Thermal Leak Detector). These mobile sensors notify you of temperature variations in your house. This encourages you to apply caulk or insulation where it is most needed.

In these areas, it is common to find leaks and areas that need additional insulation:

Close to doors and windows

Near electrical outlets and light switches

Recessed illumination in the area of the attic hatch

Anywhere ducts or wires exit the building, including the basement

Another quick retrofit is to replace incandescent light bulbs with CFL bulbs in all light fixtures. CFL bulbs use 75% less energy than conventional bulbs and save an average of $40 in energy over their lifespan. You also save money on cooling because CFLs emit 75% less heat than standard bulbs. Simply counting the amount of lights in your home would help you to instantly determine how much money you will save.

A programmable thermostat may also be mounted. These days, most consumers expect to see programmable thermostats, and they will save you money. According to Energy Star, installing a programmable thermostat saves the average homeowner $180 per year on heating and cooling costs.

If you need to upgrade your hot water heater, consider investing in a high-efficiency water heater. Savvy home owners understand that these water heaters will significantly reduce electricity bills. If your household consumes fewer than 41 gallons of water a day, a tankless water heater will save you between 24 and 34 percent on your water heating costs. If you use more, you should expect to save between 8% and 14%.

7. Simple Changes

The most value is added to your home by simple upgrades. Maintain the paint, patch the roof when it leaks, fix rotted wood, and remove any mold that you find. These kinds of tasks help to keep the house in good condition over time. Buyers want a house that is stable, strong, and clean, and they look for signs of regular maintenance.

My home's electrical lighting has been updated, the exterior has been repainted, the plumbing has been replaced, and the interior has been repainted. These projects keep my house in good condition so that when I plan to sell it again, customers can see a well-kept home.

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