Homeowners have many so many interior remodeling project options that can increase their home’s resale value, and add plenty of enjoyment as well. In today’s economy, luxury home renovations are not as attractive as they were in the early 2000’s when the housing market peaked. Today’s budget-minded and savvy homebuyers want a house that is sustainable and energy efficient, so they can have a home that will last a lifetime. As a result of this, it is important to know what home improvements will best increase home value without going overboard. Homeowners that are planning to remodel their home should focus their efforts on projects that are energy efficient and add uniqueness and provide more space and comfort to their home.
The first thing people notice about a house is it’s curb appeal, and upgrading a home’s siding can result in a significant increase in both curb appeal and overall home value. According to the 2009-2010 Cost vs. Value Report, a mid-range siding replacement increased home value with an 80% average return on investment. Since prospective buyers are looking for sustainability when house hunting, it is important to pick siding that is eco-friendly.
The kitchen is the place where families spend the majority of their time together, making it one of the most essential selling points for prospective buyers. According to HGTV, homeowners can expect a 60%-120% return on your investment on a kitchen remodel. A complete kitchen remodel might not be necessary, but it is important to consider energy-efficient appliances that use 10-50% less energy and water than ordinary appliances. New kitchen appliances can add appeal and functionality to even the smallest of kitchens and are a great investment for anyone looking to increase the value of their home.
Adding a deck increases the value of any house, and increases the area of the existing space by opening up new places to entertain and relax with family. Deck additions and remodels also make the house more appealing to prospective buyers when the homeowner decides to sell, as HGTV claims that they can expect a 50%return of their investment just by simply adding a deck. With more and more people choosing to stay home for vacations, outdoor living spaces have become more desirable, and this is a great option whether the owner is looking to sell, or just add a new space for their family to relax this season.
A new paint job is one of the most inexpensive and time-effective ways to give any home a crisper and newer look. Fresh paint, in modern colors, can go a long way towards updating the look and feel of any room. When choosing the perfect paint, color isn’t always the only factor to look at. Homeowners might want to consider using low-VOC paint, which makes their home more eco-friendly, and allows their family to avoid breathing in dangerous chemicals like benzene, the off-gas from the regular fresh paint.
Adding Energy-Efficient Windows
In today’s market, buyers are shopping for homes with energy efficiency in the forefront of their minds. To these prospective buyers, outdated, windy single-pane windows are a major turn off. Adding a new set of windows to a home can give it a more open and updated look. In addition, Energy Star also claims that adding Energy Star-rated windows can save homeowners up to $400 a year in heating and cooling costs, in our professional opinion most homeowners who install Energy Star-rating windows can also expect a 40-50% on their investment.