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If you’ve decided to sell your home or you’ve just bought one in need of remodeling, there are several home improvement projects that will help you style it up. Not only will home improvements get your home in a top-notch condition, but you’ll also increase its value.
However, not every home improvement comes with a high return on investment. Although some projects require a lot of time and money, they don’t actually pay off and you’ll end up losing money instead of turning profit. On the other hand, there are some projects that are both simple and cost-effective yet highly profitable.
Home Improvements Worth your Time and Money
Although floors aren’t the most conspicuous detail in a home, they can actually increase its value. While the cheapest options like wall-to-wall carpets might seem like the best solution, high-quality floors come with a higher return on home investments.
Wooden floors might be a bit more expensive, but they have a timeless value that always attracts buyers. If you opt for a durable and sustainable material, you’ll catch the attention of prospective buyers in no time. In addition, you can always add area rugs, which is a more stylish solution than wall-to-wall carpets.
It’s amazing how a fresh coat of paint can transform a space and how little it costs. Repainting your home will introduce a sense of novelty and give it a fresh, new look. If you choose an appropriate color, you can even make a small room seem bigger or a dark one brighter.
Repainting the exterior of your home will increase the curb appeal and value of your home while requiring little investment. When choosing a color scheme for your home, you should stick to neutral colors for the backdrop because they appeal to a greater number of buyers. As for bold hues, you can use them for accent details, such as accent walls, decorative items, area rugs, etc.
Another home improvements project worth investing in is the installation of home insulation. Although it won’t contribute to the aesthetic appeal of your home, it will certainly pay off. If you aren’t selling your home, by insulating it, you’ll increase your savings in the long run because you’ll reduce your heating and cooling bills.
In addition, your home will also be more enjoyable during winter and summer. This home improvement is appealing to buyers, as well, for the same reasons, so you’ll definitely get a high return on your investment. You can insulate your house on your own, or seek professional help.
Since the kitchen is considered to be the heart of a home, it’s no wonder that buyers pay special attention to it. Even if you don’t want to sell your house, a modern and functional kitchen will increase the value of your property and make your life much easier.
There are plenty of affordable kitchen improvements you can make such as painting the cabinets, changing the faucets, knobs and other fixtures, introducing additional storage solutions, etc. Buying new appliances pays off only if your old ones don’t function properly. If they just look worn-out, you can apply stainless-steel stick-on covers and give them a sleek modern look.
More Ways To Save Money Around The House
Adding a deck is among the most profitable home improvements that will increase your home’s value significantly. Not only will it provide you with a high return on your investment, but you’ll get a lovely outdoor space where you can relax and socialize with your friends and family.
If you ever decide to put your home on the market, potential buyers will be delighted with your outdoor sanctuary. Of course, you also need to properly decorate it – add some comfy furniture, introduce a lot of plants, install lighting fixtures and your outdoor haven is ready. You should consider hiring a professional for this project, especially if you don’t have building experience.
If you need an additional source of income, building a rental might be a perfect solution for you. You can build a small house, furnish it and then rent it. You can use stylish granny flats in Australia as an inspiration.
These flats are economical accommodation solutions that can increase the value of a property and help their owners turn a profit. Since building a house requires a lot of effort and money, it might be more profitable to just buy one of these houses. You can even use it as a guest house, personal studio or accommodation for your parents.
When renovating and making home improvements, you might spend a fortune only to realize that the project you’ve undertaken doesn’t actually pay off. Therefore, you should find out which of these projects is right for you in order to make a wise investment.