1. Kitchen Remodel – But Don’t Overdo It!
The kitchen is the heart of the home, and upgrades in this room almost always pay off. Most experts believe you can recoup 60-125% of your investment on a kitchen remodel if you do not make the room fancier than the rest of the house – or the rest of the neighborhood! If you plan to sell your home eventually, most buyers will not pay extra for a deluxe kitchen that is nicer than the rest of the home.
When it comes to a refresh in the kitchen, a little paint goes a long way. Before your project begins, consider what colors you will choose. Adding some more modern color can update a kitchen at a low cost. Consider a low-VOC paint that will make your upgrade more eco-friendly and will help your family avoid breathing dangerous chemicals found in regular paints.
If you are updating appliances, consider those that are energy efficient. They will save you money to operate and appeal to potential buyers if you decide to sell.
Lastly, know your limitations. Kitchens have many integral parts like electricity and plumbing, so if you are considering a refresh that goes beyond your own DIY skills, hire a professional to help. Many companies will offer a free estimate on your project so you can compare prices.
2. Add a Bathroom
Adding a bathroom to your home is always a good choice. Experts believe you can recoup between 80%-130% of your spending on this upgrade. Increase your return by frequently visiting box stores for reduced prices on fixtures like sinks, toilets, and hardware. In addition, you may be surprised how much you can save by shopping for clearance or former display items.
Not sure where to put a new bath? Think about where there may be unused space in your home – unused closets, space under the stairs, “catch-all” rooms that are underutilized. Once you have an idea of all the unused space, you can be more creative with your solutions for where to put your new bathroom. Consider talking with a contractor to get some ideas about what might be possible in your home, especially since the addition of a bathroom likely involves more in-depth plumbing and electrical knowledge.
3. Reinvent a Room
The cost of adding a new room to your home can escalate quickly. Watching any home improvement show will give you nightmares about the problems you can run into behind finished walls. To save some money, try to reinvent an existing space in your home instead. Finish a basement or convert an attic to a bedroom. Many homeowners have added apartments in or over their garages – which they can turn into rental income. Be sure to think about how future buyers may use the new spaces. Versatile rooms have greater overall appeal. Basements make great second living rooms, game rooms, or even apartments for aging relatives or tenants. Attics can be great craft rooms or playrooms for kids. If you consider eliminating walls, it’s always best to get a contractor to help make your dreams a reality.
Increase Your Home’s Energy Efficiency
It is always a good idea to save money on home energy costs. Buyers are looking for energy-efficient homes, and there are often great incentives for making these improvements, like tax credits or rebates on Energy Star products.
There are many ways to improve your home’s energy efficiency. Some of the more obvious ways are replacing windows, lightbulbs, or appliances with new, energy-efficient ones. But there are plenty of ways to increase efficiency that we may not think of at first like, changing faucets, adding insulation to the attic, or replacing old siding with energy-efficient vinyl siding. Not sure where to begin? BGE customers can now book a Home Performance Energy Audit with us for just $100 (a $400 value!). C.A.R.E. Property Services can help you find the places where your home is costing you money and advise you on what improvements will give you the best bang for your buck.
No matter what project you choose for your home, another important decision is how you will pay for that project. C.A.R.E. Property Services offers several types of financing, including 12 months same-as-cash. Check today to see if you qualify.