Do you have a list of changes you’d like to make to your home this year? Completing cosmetic updates is easiest when the weather’s in your favor. In honor of May’s National Home Improvement Month, here are four upgrades ranging from curb appeal projects to large-scale expansions that often yield high returns. And high returns are a good thing!
- Replacing doors and windows: Homeowners are often encouraged to consider projects that boost overall curb appeal. Swapping out a wooden front door for a steel model or replacing front-facing windows can pack more of an return-on-investment punch than renovations made inside the home.
- Constructing a deck: Create a beautiful transition from your back door to the outdoors by building a deck. The update turns into a major selling point that can recoup your initial investment when it’s time to move on. In the meantime, you’ll have opportunity to enjoy the improvement/upgrade yourself.
- Adding insulation: Of all the projects listed in Remodeling magazine’s 2017 Cost vs. Value Report, adding loose-fill insulation to your attic is the only one with returns that exceed 100 percent of the cost. It can also help reduce year-round heating and cooling costs…again, another benefit for you prior to selling.
- Building a second-story addition: Even with a slight increase in construction costs, completing a significant two-story addition resulted in a substantial year-over-year increase in value from 2016 to 2017. Adding the extra space will likely catch the attention of buyers. Important to keep in mind, though, that you should take into consideration the size & price point of the homes in your area so as not to over-improve for your neighborhood.
Home renovations and repairs are on the rise and expected to peak this year. Now’s the time to start planning your investment-savvy home improvements.