When you purchased your home, you selected it based on your specific criteria for space, number of bedrooms and baths, and amenities to suit your lifestyle. As you live in your home, you stamp your own personality on it through decorating, improvements, and other enhancements.
How about adding value to your home at the same time that you personalize it? Here are the five most common ways to add real value to your property, for your comfort and enjoyment-and for resale down the road.
Many small problems, when left untreated, can blossom into major repairs. By spending a little time and money on the problem up front, you save major repair bills over time. A good example is earth-to-wood contact. Clear the dirt away from the house. This will minimize pest infestation later on.
- Cosmetic Improvements:
The best way to enhance the value of your property is to paint, update fixtures, and replace/refinish carpets and flooring. This immediately enhances your home's appeal and updates it without a major cash outlay.
Select your projects wisely. Updating the kitchen and baths usually provides the greatest return on your investment. But make sure you don't over-improve for the neighborhood, or you will not get the return on your dollar.
Stay on top of interest rates. You may want to take advantage of interest rate drops to refinance at a lower rate.
- Energy Efficiency:
Consider installing energy-efficient appliances, heating and cooling systems, and double- or triple-pane windows. Spending money up front can save you substantial sums long term.