Home Improvement Projects That Pay Off

If you are considering upgrading dated or worn-out surroundings, making more room for a growing family or doing some fix-ups to your home for resale - choose your projects carefully. Make sure the home improvements you spend for today will pay off for you when you do decide to sell your home later. If you aren’t going to benefit with an increase in your home’s resale value, you may want to reconsider.

Selling your current home and moving to a new home may be a better option than undertaking a costly renovation. If you recover 80% of your home improvement expenses in the sale of your home, you’re still 20% down - not to mention all the time and energy that went into the project.

• Adding Another Room - This will typically pay off in resale value as long as the addition doesn’t throw your home out of the ball park with the value of other homes in your neighborhood. Adding sun rooms/patios, master bedrooms suites and expanded luxury spa-like bathrooms are popular - providing extra space for your family.

• Kitchen Upgrades - Since buyers typically look for upgraded kitchens, new cupboards, granite counter-tops, flooring and/or appliances will benefit you in the resale of your home. More than likely, you’ll recover a large portion, if not all of your investment. You may not need such a major overhaul if your basic kitchen design is decent. A mini-lift will suffice - such as new flooring, hardware, cabinet doors and some paint. This will pay you back when your home sells quicker and for a higher price. It is recommended that you use neutral paint colors, energy-efficient appliances and new lighting fixtures.

• Energy-Efficiency Upgrades - Not only will you save monthly on improved energy efficiency - reflected in your fuel bills - you’ll see the benefits when you’re ready to sell your home. Change out dated and drafty windows with insulated ones to help with heat and coolness efficiency. Some other upgrades worth considering are insulating the attic, weather stripping around doors, and water heater insulation. You will be able to handle many of these improvements yourself, without having to hire a contractor.

• Adding another bathroom - Not only will adding another bathroom provide an additional convenience for your family, it will pay off when you put your house on the market to sell.

Keep close to this list of these five smart projects that pay off. Come resale time, you’ll have little trouble recovering your home improvement investment; your house will sell faster and for more money.

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