Your home should be your pride and joy, a place that you love to show off to your friends and family. When the time comes to sell your home, you want to make sure that potential buyers are seeing the same value you’ve always seen in your special place. One way you can do this is by continuously investing in your home while you’re living in it.
Sometimes it’s hard to look objectively at the place you’re living. It is your home after all. If you’re unsure where to start, or how to fund the projects you need to tackle, have no fear. You’ll soon see that the investment will be worth the reward.
The thought of investing in your home can seem daunting, especially when you start to consider how you’re going to pay for all of your projects. Let’s face it, life is expensive, and it can be hard to budget for every little thing. Still, there are ways you can fund your improvements without breaking the bank.
Being a current homeowner grants you some privileges when you need some extra money. You could refinance your mortgage to get yourself some extra cash for whatever you need, including making improvements on your current home. There are different types of refinancing options available, and you want to make sure you’re choosing the right one for you. For example, if you don’t plan to stay in this current home for more than five years, then researching a guide to a no-closing-cost refinance would be a good option.
If you plan to have professionals come and perform some of your improvements for you, you should also do your research to see who has the best financing plans available. If you choose a professional who can complete multiple projects for you, having the financing in one place instead of spread out over multiple vendors can save you money in the long run. Plus, the more business you give them, the better deal they might be able to work out for you.
When it comes to your home’s interior, there are thousands of potential ways you can start good investment projects. Be sure to start in the most frequently used areas of the home: the kitchen, main bathroom and living room. When it comes time for you to sell your house, these are the areas potential buyers will spend most of their focus on, and making sure they’re up to par is essential for getting your best return on investment.
If you have wood floors, carpeting, tile or a mix, make sure you’re keeping them well maintained and properly cleaned. The same goes for any tiling on kitchen or bathroom walls. Any paint you have inside should also be routinely touched up and redone every five to seven years. It is also important to keep an eye on all HVAC, plumbing and electrical. Having them up to date will make your home safer for you, and more attractive to potential buyers in the future.
Once you have all of the basics covered, you can work on some fun interior projects. If you have an unused basement, you can turn it into a man cave or a family rec room. Or, you can spoil yourself by adding a spa-like master bath or a walk-in closet to the main bedroom. Your options are quite literally only limited by your imagination.
Some people would argue that maintaining and improving your home’s exterior is even more important than the interior. Issues with the outside of your house could eventually expose both the interior and you to the elements, causing damage to your home’s structure and your personal health over time.
While it is often a large expense, one of the best investments you can make in your home is a new roof. How often a roof replacement should be done depends on the type of roof you have and the overall condition it’s in. But, when you do decide to sell your home, having a new or partially replaced roof can play to your favor. Either you’ll be able to have a higher asking price, or you can leverage that fact should any issues arise while closing.
It is also both beneficial and a good idea to routinely have the exterior of your home inspected by a professional. This way they can catch any issues before they become too big of a deal. This could wind up saving you thousands of dollars should an issue with your foundation, siding or roof appear. Remember, a small issue is always bigger and less expensive to fix than a big one.
Extras Worth the Price
After you’ve worked on some of the more necessary investments, you can take time to consider some extras that’ll add even more value to your home.
One of the most sought after and first thought of additions is having a pool. There are however several factors to consider. A pool will add value to your home when it comes time to sell, especially if you live in a warm weather area, but they’re also very expensive to install and maintain. Still, you’re certainly going to have more people interested in a home with a pool simply for the status associated.
If your home doesn’t already have one, an attached garage is something definitely worth investing in. Especially if you live in climates that see extreme temperatures or weather conditions, having an attached garage limits the homeowner’s exposure to the elements. This feature could prove to be invaluable when it’s below zero with negative wind chill.
However you decide to invest within your home, you’ll be grateful for the time, effort and expense in the long run. In a competitive housing market, these improvements can add large value to your home both monetarily and in appeal to prospective buyers. Take time to really consider what improvements your home could truly benefit from and what would make it attractive should it go on the market. When that day comes that you do decide it’s time to move on, for whatever reason that may be, you’ll find your efforts weren’t wasted or in vain, and that they’re appreciated by the next owners who call your house home.