One of the benefits of owning a home is building equity, and a handful of high-quality, functional improvements can increase it. If you are feeling that spring energy or looking for ways to re-invest your tax refund, here are nine home improvements for building home equity to consider.
Remodel the kitchen.
When you think about re-doing your kitchen, think “spacious, practical and updated.” Make sure you update the countertops, flooring and replace the appliances with energy-efficient models, for example.
A modern, simple backsplash can add a classic touch. A fresh coat of white paint can help create a clean, classic, current feel.
Enhance the bathroom.
Like the kitchen, you don’t necessarily have to go big—just functional and practical. Invest in a new mirror and fixtures, including replacing outdated light fixtures. Replace the flooring if needed. You can also paint the walls.
Replace the garage door.
According to Remodeling Magazine, chances are high this is one home improvement that will recoup most of the cost. In fact, their reports shared that on average nationwide, 93.3 percent of the cost for a new garage door is recouped during resale.
Upgrade the windows.
New windows can offer immediate and long-term value. Energy efficient windows may cost a little more upfront, but after they are installed, you should see significant savings on your next energy bill.
Get a new roof.
A new roof not only looks good, but it adds value to your home. It improves functionality, energy efficiency and stability.
Build a deck.
Decks are appealing for several reasons, including the addition of usable space! They are popular gathering places as well, which also adds value.
Improve energy efficiency.
From bigger projects like a new roof and windows to smaller ones like replacing light bulbs, being energy efficient saves money early on, and it’s appealing to potential home buyers.
Paint the interior.
A fresh coat of paint instantly gives your home a fresh and updated look. In general, neutral colors like beige, cream, grey or greige work well for resale.
Add curb appeal.
This includes landscaping, new exterior doors and new exterior paint, for example. Painting your front door is another good option. You can also seal driveway and sidewalk cracks.
A few other cost-efficient ideas include updating your house numbers, adding some planters, giving your mailbox a makeover and power washing everything.
Summary
In the end, the goal of the improvements should be to add value to your home. And while these home improvements for building home equity add meaningful value, there are budget-friendly options that add value to your home too. You can always contact Ryan Roberts with any home selling—or buying—questions. For more real estate tips and local news, keep reading our blogs.