Home improvements are a smart and effective way of protecting the investment and increasing the resale value. It is important to understand that not all home improvement projects are equal. The most expensive and luxurious improvement may not add much value to the property. Sometimes something as simple as a luxury towelling bathrobe can make a huge difference in value and comfort of the room. If you want to make sure that the upgrade is worth investment then you should weigh its pros and cons.
Here are some improvements that should be on top of the list as they contribute to the comfort and value of the house.
The Essential Repairs Come First:
It is never a good idea to ignore the essential repairs. If you spend a lot of money on the aesthetics and luxuries and if you still have a leaking roof or inefficient HVAC system then the expensive improvements will not do much for the value of the house. The projects like fixing leaking pipes or roofs or upgrading the HVAC systems should always take priority over all the others.
Some essential repairs are minor and do not cost much but there are some major ones as well. Replacing the roof is going to cost you but it will always pay off so it is a profitable investment.
Consistently Paying Off Projects:
There are some home improvement projects that are affordable and they consistently pay off. They add to the value of the property and make everyday life comfortable as well. Updating the kitchen and bathrooms is a great idea. These two rooms help in making a huge statement and impress potential buyers if you are selling the property. Bathroom and kitchens are the high demand rooms but there are other improvements that pay consistently.
Creating an open space, fresh coat of paint and increasing curb appeal are some improvements that you can add to the list.
Try Trends but Avoid Over-Personalizing:
The trends in interior decor change with time. Staying on trend is not about investing in odd accessories but about choosing the right style and materials. Updating the house is not just about improving the comfort but also the aesthetics of the house. Trends are good but not all of them stay in popular for a long time. It is better to invest in upgrades that are in demand rather than the trendy ones.
Avoid Over Improving:
People can easily get carried away with home improvement projects and forget the available budget. It is hard to stop once you put on the creative cap. But remember that home improvements are not free and they will cost you money. You do not want to start a project that you cannot afford to complete. It will have a negative impact on the finances, value of the property and comfort. It is possible that the extensive upgrades you are doing is not even worth it and is not going to pay off.
It is always important that you understand the budget limits and do the cost versus value comparison so that you can spend money on the right things.