Part of homeownership is maintaining and making upgrades to your living spaces. Whether you’re trying to sell your house or planning to stay around to enjoy it, projects that add value to your home are worth the investment. Here is a list of improvements that help increase your property value.
Take Care of Basic Maintenance to Add Value
You may be excited about starting a new project at home, however, handling neglected maintenance should be your first priority. Ongoing maintenance issues detract from the property value. If you’re making improvements to sell your home, know that homebuyers often pass over houses with obvious maintenance issues. Repairs you need to tackle first include:
- Fixing plumbing leaks
- Clean the gutters
- Drying out a damp basement
- Repairing roof leaks
- Painting the exterior
- Replacing or repairing siding
- Exterminating pests
- Upgrading wiring and electrical outlets
Add Value to Your Home With More Open Spaces
Homes can benefit from projects that open up the living spaces. For an older home, this brings it more up-to-date with today’s popular open floor plans. Consider removing walls that aren’t load bearing or replace load-bearing walls with columns to provide support. If tearing down a wall isn’t an option, create the illusion of more space by adding windows.
Create Additional Living Areas
Add value to your home by creating additional living spaces. Finish the basement or attic to increase your usable square feet for less than the cost of building an addition.
Creating an outdoor room is another budget-friendly way to add living space. Adding a gazebo, a patio, or deck are other possibilities. Increase the room-like feel of your patio with overhead protection from the sun in the form of a pergola, tiki thatched roof, or oversized patio umbrella.
Replace Bathroom Fixtures
Older bathroom fixtures are not as efficient as today’s models. Replacing an older showerhead reduces your water usage. Modern showerheads use no more than 2.5 gallons per minute.
Toilets manufactured before 1994 use 3.5 to 7 gallons per flush. Today’s toilets use no more than 1.6 gallons per flush. According to the Environmental Protection Agency, toilets account for 27% of a household’s water use. Replace your bathroom fixtures to conserve water, save on your utility bill, update the space, and increase property value.
Refresh Your Kitchen to Add Value to Your Home
Kitchen improvements that add value to your home include painting the walls a neutral color, adding a backsplash, upgrading cabinet hardware, replacing outdated light fixtures, and adding undercabinet lighting. You can also increase storage space by adding a pantry.