In addition to being a comfortable, safe and attractive place to return to after a long day of work, our homes are one of the biggest investments we make. In order to get the most out of our investment, it is necessary to be selective when choosing which home upgrades we’ll make. The important thing to keep in mind is that not all upgrades are equal in terms of adding value to your home. The following is a list of some that will give you a good return on your investment.
It Starts in the Kitchen
The kitchen is the center of the home. It is where we spend the majority of our time and where some of the most precious memories are made. For this reason, upgrades to the kitchen pay off in both the short term and the long term. In the short-term, new kitchen appliances make the kitchen easier to use, promote energy efficiency thereby reducing costs, and are attractive. Additionally, if you sell your home, one of the first things that potential home buyers will look at are the appliances in your kitchen. A quiet dishwasher, an attractive microwave and standalone hood vents are all upgrades that are worth it. Need more inspiration? Check out these kitchen ideas.
Let There Be Light
Everyone appreciates being able to flip a switch and have light in a dark room. However, many overlook the fact that in addition to being functional, lights also play a role in creating an atmosphere in a room. Lights make things like shaving, cooking, and cleaning easier. Upgrading the lights in the bathrooms and in the kitchen instantly makes a home more valuable and adds visual interest and style.
Homeowners may want to look into under cabinet lighting for their kitchens and overhead and task lighting for their bathrooms. Consider installing dimmer switches so that you can provide a mix of light in your home and regulate energy use.
What a Big Closet You Have
There is no such thing as too much closet space. When given the choice between remodeling a dining room area that is never used or increasing closet space, nine times out of 10 the decision that will pay off in the long run is increasing closet space. Home buyers want a home with a big closet. Excellent storage might push a buyer to make an offer on your house instead of on a similar house on the market.
Install Ceiling Fans
Installing ceiling fans in every room of your home will require an initial investment that includes the price of the fan and the cost of installation. However, in the long run ceiling fans will drastically reduce your energy bill. Why? Ceiling fans recirculate cold air during the summer months while at the same time helping to keep rooms warm during the winter. Ceiling fans can last for decades. Also, they can be a selling point when it comes time to sell your home.
Build an Attic Bedroom
On average, a person can expect to spend approximately $50,000 to turn their attic into a bedroom. The immediate payoff is added living space. Some have chosen to rent out their attic bedroom and have seen an immediate return on their investment. Additionally, you should expect to recoup a little more than 72 percent of the money spent installing the attic bedroom when the home is sold.
Refurbishing the Basement
In many homes, the basement occupies one third of the potential living space. Turning an unfinished basement into living space adds square footage to the home. A basement remodel pays off in the short term by providing additional living space or an area that can be rented out for income. In the long-term, it will pay off by drastically increasing the resale value of the home.
If you need more home ideas and inspiration, I suggest checking out Modernize.