Spring has arrived, and with it, a desire for improvement. For homeowners, this often means home improvements to increase the property’s appeal, convenience, and value. Unfortunately, many home improvements do little to increase a home’s value. You never get out of it what you put in, at least financially, so consider the following common home improvements before committing to any improvement in your own home.
1. Value Plus – Insulation
If you’re looking to solely add value to your home with an improvement, you’ll want to add fiberglass insulation to the attic. According to a recent cost vs. value report, adding insulation to an attic costs, on average, $1,342. The improvement, however, increases the home’s value by $1,446.
We know, insulation isn’t very attractive, and no homebuyer has ever walked into a home and exclaimed appreciation for new insulation, but if increased value is what you’re looking for, adding insulation to the attic is it.
2. A New Front Door
Another value-packed home improvement you can make is replacing your old front door with a sturdy, new metal one. From a financial standpoint, you’ll likely lose a few bucks off the top, but the new door is likely to be more energy-efficient, which will save money on your energy bills, and the added curb appeal a new door offers can up your home’s chances for a faster sale.
3. Manufactured Stone Veneer
This home improvement is one that you’ll also lose a little money on, but if you like the way it looks, it’s worth every penny. Plus, most homebuyers will like the natural stone look, too, and be willing to pay a little more for it. Sometimes, a home improvement isn’t about how much money it’s worth, but how much pleasure or convenience it gives the occupants of the home.
4. A Minor Kitchen Remodel
Remodeling a kitchen from top to bottom can be pricey and time-consuming, but a minor kitchen remodel can make all the difference in the world for much less. For example, simply replacing the doors and hardware on your kitchen cabinets can give the space a whole new look and feel.
The average minor kitchen remodel costs around $20,000, and you’ll recoup about $16,000 in the sale of your home, but just think of all the enjoyment and pleasure you’ll get out of the room until then if you replace the appliances with modern, energy-efficient ones and reface the cabinets. Money isn’t everything, you know.
5. A New Garage Door
When you replace your old garage door with a new one, you’ll recoup about 77 percent of the cost, which isn’t bad. If you need to justify this home improvement, chalk it up to added curb appeal, which can be the difference between your home selling quickly or sitting on the market forever waiting for the right taker.