If you are anything like us, you have a Pinterest page full of ideas for projects for your home. Luckily for you, these ideas may be beneficial for your family and your home in the long run. Today’s homeowner wants energy efficient homes that are sustainable and budget-friendly, so we put together 4 home improvement ideas for the homeowner who wants to add value to their home without taking out a second mortgage to pay for it. In order to add the most value to your home for your money, homeowners should put forth their efforts on projects that add character and/or efficiency to their space.
What comes to mind as the one thing that can make or break your first impression of a house? Curb appeal! Upgrading or repairing your home’s siding can result in a significant increase in both curb appeal and overall home value when you go to sell. A moderately priced siding replacement can result in almost 80% return on investment according to the 2009-2010 Cost vs. Value Report.
The majority of family time is spent laughing, cooking, and eating in the kitchen, which makes it an essential selling point when you are trying to sell your home to a potential buyer. Luckily, this investment pays off big time! HGTV tells us that homeowners can expect between 60%-120% return on investment on their kitchen remodel. This doesn’t mean you should rip out and redo your entire kitchen, though. Homeowners should consider upgrading to energy-efficient appliances that use 10-50% less energy and water than ordinary appliances. Even small kitchens will have more appeal with updated appliances, which give it more functionality and aesthetic appeal.
Decks & Front Porches
Not only does a deck addition add a fun, modern feel to a home, it also increases the area of space your home can offer in the eyes of prospective buyers. Decks are a sought after amenity when it comes to buying a home, and HGTV tells us homeowners can expect between 65-90% return on investment when selling their home after adding a deck! The type of deck you build will also determine the amount of value you are adding to your home. PVC/Composite decks are more expensive because they are not made out of wood. However, because of this, there is virtually no upkeep as well as limited fading over time. Your kids’ feet will thank you since this material does not splinter either!
If you’re not a backyard living kind of person, the National Association of Home Builders reports that over 75% of single family homes in 2013 had a front porch. They also stated that the front porch has become one of the most desirable exterior architextural features on a home for single family home buyers!
Adding Energy-Efficient Windows
Today’s homeowners crave efficiency in the current economy. Buyers are easily turned off by outdated drafty windows envisioned their hard earned money flowing away with the cold breeze. Energy efficient windows not only give the home an updated look, but also save the current homeowner money in the long run. Energy Star claims that adding Energy Star-rated windows can save homeowners up to $500 a year in heating and cooling costs, and HGTV claims that homeowners who install Energy Star-rated windows can also expect a 60%-90% return on their investment.