If you own your home long enough, you are likely to do at least one renovation project. While the goal for most homeowners when renovating is to improve the look and utility of their home, a secondary goal is to increase their home's value. Not all projects have a significant return on investment, and you need to make sure you know what you are doing before you start so you don’t accidentally damage your home. Here are a few projects that will help your home value.
It might not seem like much of a project, but replacing doors around your home is a small, inexpensive project that has a lot of bang for the buck. The best door replacement projects are to replace your front entry door or to replace your garage doors. Both projects will boost your home's value by about as much as you spend on them. This is especially important if your doors don’t hang properly anymore, or if they aren’t very sturdy. Replacing doors adds to the home value because it also adds to your home security.
Another renovation project that many homeowners never think of is landscaping improvements. Doing things as simple as trimming trees and shrubs and filling in bare spots in your lawn can give you a big boost in home value. You can also add new garden areas or features in your backyard, such as a firepit or decorative seating. As with replacing doors, landscape improvements tend to get you a value increase that's commensurate with the amount of money you spend.
Minor Kitchen Remodel
Among the most sought-after improvements, people are looking for when buying a home is updated kitchens and bathrooms, and you can add a lot of value to your home by making some minor improvements to your kitchen. You don't need to go all out and gut it; simple changes can make a big impact. This can include replacing flooring and countertops, refinishing or refacing cabinets and replacing hardware and fixtures. A minor kitchen remodel that's done right can add back to value 90 percent or more of what you spend.
New Paint Job
A fresh coat of paint can do wonders for making your home look newer. Whether you decide to paint the inside or outside of your home, the paint will spruce up any dingy looking areas. For indoor projects, choose colors that match the scheme and layout of the room. Brighter or lighter colors bring more energy in and make the space seem bigger. For larger projects, it may be a good idea to get professional help.
If your home has siding that is in poor shape, replacing it is absolutely critical. Not only can broken or old siding make your home look run-down, but it can also open up a host of other problems. Siding protects the walls of your home from the elements, so you could end up with some nasty damage you need to fix. Cracked siding can also open up a way for pests to get into your home. Make sure you make this a top priority as soon as you notice any problems.
While home improvements can be a lot of fun when done right, it is important that you figure out what you are doing in advance, even with small projects. There are plenty of programs out there that will help you figure out what you are doing, making your research much easier. Just remember to have fun!