Tips on Increasing Your Home's Value
2020 is the year to invest in your home! There are many useful, decorative, long-lasting improvements you can make to your home that will increase your home’s “wow factor” and value. What are some of the most cost-effective methods with the highest return on investment? These tips below will give you some good ideas on where start.
Electrical Upgrades to Save You Money
Don’t neglect your home’s needs! To get ahead of the curve, think about replacing or upgrading all components and items that you find are in constant need of replacement. Whether the jobs are big or small, these are things you don’t want to ignore. You may also want to consider investing in LED lighting and energy efficient appliances.
Try upgrading your water heater to a tankless model. Classic water heaters generally keep about 50 gallons of water hot 24/7, whether it’s being used or not. Water heaters account for 16% of energy costs in the average home. A tankless water heater only heats the water you need as you need it saving you money and providing an attractive eco-friendly alternative that is sure to increase the value of your home.
Does Whole House Generator Increase Home Value?
Installing a whole house generator can increase your home’s resale value as well as save you money. Power failures are a very common occurrence for us Floridians. The process can cost anywhere from $7,000 - $15,000 depending on the model. With that said, installing a generator will definitely increase your home’s resale value. According to consumer reports, a whole house generator will likely end up increasing a home’s resale value by up to 5%. Another report by Remodeling Magazine, mentioned that a standby generator can result in a total return on investment of up to 150% if done correctly. Installing a whole house generator is a job better left to the professionals. Instead of doing it yourself, hire a licensed technician and plumber for installation.
The Bottom Line:
- Stay up to date with your house’s needs, making repairs and upgrades where it’s needed.
- Invest in LED Lighting and energy efficient appliances.
- Consider upgrading to a tankless water heater & installing a whole house generator.
Make your home a “Smart Home”
Modern “techy” additions to homes are also highly sought after. “Smart” technologies that enhance safety in the home or save money on energy are the way to go. These devices can be thermostats, lights, fire and carbon monoxide detectors, security cameras, and door locks. Although making your home a “smart home” may not always increase its market value, it makes one’s house more eye-catching. Another great aspect of these improvements is that they’re relatively inexpensive, with installs costing about $1000 or less.
Be strategic and careful with the high-tech improvements you decide to implement in your home. Do your best to appeal to the buyers in your area. Some high-tech additions to homes end up being bad investments because of the speed that technology tends to evolve.
One of the safer decisions you can make are adding a smart thermostat. These thermostats can make calculated changes to your house’s energy use depending on the latest gas or electricity prices, as well as allow you to control and schedule the temperature changes on your phone.
A very good thermostat on the market right now is the Google Nest, feel free to learn more about it here. Another great device to implement is the Lutron Caseta Dimmer & Switch System which allows you to monitor and control lights, shades, and temperature from anywhere!
The Bottom Line:
- Research highly sought after “techy” home additions.
- Think “safety” and “eco-friendly”.
- “Smart” thermostats, light switches, fire & carbon monoxide detectors, security cameras & door locks are a safe bet.
- Be wary of devices with short life-cycles.
Kitchen and Bathroom Remodels
Kitchen updates are key. Even a minor kitchen remodel will generally return 81% of its cost in added value according to Remodeling magazine’s “2018 Cost vs. Value Report”.
The great thing about kitchen remodels is that they don’t have to be too pricey, nor do they need to be completed all at once. You can start up by changing out one item here and there such as stained sinks or old appliances.
That’s right, since kitchens are widely seen as the heart of a home, a modest kitchen or bathroom remodel is the method for best return, about 80-85% of every dollar spent to be precise. People are looking for wide open spaces, granite counter-tops, nicely colored custom cabinets, and energy efficient stainless-steel appliances.
Another great way to make improvements is making changes to your bathroom. You can do a lot to your bathroom for $750 and less. Something as simple as replacing plumbing, light fixtures, or flooring is guaranteed to give you a sizable return.
The Bottom Line:
- You can’t go wrong with kitchen remodels.
- Bathroom remodels are another great option.
- Your investment doesn’t need to be too high for a significant return on investment.
Lighting Services To Brighten Your Home
One of the most practical ways of increasing your home’s value is making it brighter. Good lighting makes all the difference when decorating a home. Not only does it make it improve visibility, proper lighting also adds a positive, happy, vibe to a space. Your house will look roomier, neater, and warmer with the right amount of lights. This will go a long way with potential buyers should you decide to sell. You can never go wrong adding recessed lights, chandeliers, and tasteful sconces to your living space!
A stylish ceiling fan is also a well-known home staple. They provide an adequate amount of light, a nice breeze in the summer, and a heating mode during the winter. Make sure your ceiling fans aren’t creaky, wobbly or broken pieces of decorative dead weight.
The Bottom Line:
- When in doubt, add light! Recessed lights, chandeliers, sconces are all nice additions.
- Lights add a cleaner, clearer and warmer feel to any home.
- Consider adding or upgrading your ceiling fan to a stylish, modern model.
- Ceiling fans will tie the room together and save you money.
Upgrade your Outdoor Lighting to Increase Curb Appeal
Don’t be that creepy house on the block with no driveway or outdoor lights. You want a welcoming entryway. If you’re guilty of this, try lighting up your front door with modern, stylish sconces, hanging pendants, or porch string lights. Try installing solar powered lanterns to brighten up your walkway.
The Bottom Line:
- Don’t neglect the outside of your home, curb appeal is important.
- Use sconces, hanging pendants, porch string lights and solar powered driveway lanterns to brighten up your property.
Let’s get to Work!
The options are virtually endless. There are countless additions, upgrades, and repairs that will significantly increase the value of your home. If you’ve been pondering on how to use your tax return money this year, and you’re considering selling your house, or you just feel like your home could use some sprucing up, try out some of these improvements. If you feel some of the electrical improvements or repairs are a bit out of your range of expertise, please don’t hesitate to call us today! Our awesome service experts are ready to help!