There is a big difference between what you need and what you want. Granite countertops in the kitchen may look sharp, but would it not be smarter to replace the air conditioner or reinforce the roof? You have to ask yourself – is this really a wise investment in my home? The good news is sometimes the answer is yes. But knowing where to spend your money is the key because money spent in the right place can add value to your home – especially when you’re ready to sell. Below are five places in your home where indulging in renovations can actually help create new value:
1. Curb Appeal
We’ve all heard the expression, “You only get one chance to make a first impression.” And that certainly is the truth when it comes to your front door. The exterior of your home is critical to its resale value and an impact resistant door or something that has a “wow” factor can be a unique and cost effective way to boost your home’s worth.
2. The Kitchen
The kitchen is typically the most used room in a home. It’s where we spend the most time grabbing a quick breakfast with the family or hosting an elaborate Thanksgiving dinner. An outdated kitchen can negatively affect a home’s value, so investing in upgrades to this room can make a lot of sense. While a massive overhaul can be daunting, consider replacing outdated appliances, hardware and light fixtures first. If you still have budget left over, then move on to cabinets and countertops to add instant value. But beware; national averages suggest that you should never spend more than 25 percent of your home’s total value on your kitchen.
3. Energy Efficiency
The modern homebuyer is increasingly looking for a place where they can save money in the long run and energy efficient homes are one of the main ways of achieving this. By replacing old windows and doors with impact resistant glass can help you save on utility bills throughout the year while also securing credit from your insurance company. Other means of achieving greater energy efficiency also include new air conditioner units, upgraded appliances and even the installation of solar panels and home battery packs.
4. New Floors
While carpet has its functionality, the majority of today’s buyers are searching for homes with upgraded flooring such as wood, laminate, tile and engineered floors. These options are not only more aesthetically pleasing; they are also durable and long lasting. And with flooring pricing continuing to come down in some categories, there can be good value to be had here.
5. Hardware and Fixtures
Hardware and fixture changes should not be limited to your kitchen. When making these cosmetic changes, consider the rest of your house because simple upgrades to doorknobs, hinges, light fixtures and curtain rods can dramatically change the look and feel of space. Plus these types of upgrades can be a cost effective way of improving the look and feel of your home without breaking the bank.
If you’re interested in learning more about what improvements in your home can create more value, or if you’re considering selling or purchasing a home across South Florida, please visit Roger Snyder Homes or call us at 305-987-2859 for more information.