Home owners have many remodeling project options that can increase their home’s resale value, and add plenty of enjoyment as well. In today’s economy, uber-luxury renovations aren’t as appealing as they were in 2004-2005 when the market peaked. Today’s budget-minded buyers want a home 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 improvements will best increase home value without going overboard. Homeowners planning to remodel should concentrate their efforts on projects that are energy efficient and add character 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 a 79.9% average return on investment. Since prospective buyers are looking for sustainability when house hunting, it is important to pick siding that is eco-friendly. A good eco-friendly siding option is APEX Ultrex Siding, which is made of sand, an abundant natural resource, and impervious to harsh weather.
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 overhaul 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 home, 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 65%-90% return of their investment just by 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.
New Paint Job
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 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, drafty 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 like Marvin replacement 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.