Your home serves practical functions, but it also represents one of the most substantial investments made during your lifetime. Like other investments, real estate can furnish returns, gaining value and equity over time. But making the most of your home’s potential to appreciate requires a proactive approach. Not only is general upkeep a concern, but home improvements also reinforce your investment, adding value and appeal to your property.
Like other aspects of your household finances, balancing spending on residential upgrades ensures the most bang for your buck. From major renovations to DIY upgrades, a cost-effective approach boosts your home’s value without overspending. In many cases, dramatic transformations can be achieved without substantial investments. But if you are preparing for a home sale, more substantive upgrades may warrant deeper spending – even calling for financing, at times. Whatever the scope of your effort,
Interior Patch and Paint
Perhaps more than any other home improvement project, an interior painting upgrade has dramatic effects on your home’s appearance and value, without major investment. Even if you contract the service, painting is relatively inexpensive, in contrast to its sweeping benefits. To further lower the cost of the update, pitch-in with your own labor. Inexperienced family members can contribute as they learn painting skills, resulting in a fresh look, for only the cost of paint and supplies.
Preparation is the key to carrying-off successful DIY painting projects. Before the first paint can is opened, holes must be patch and surfaces must be prepped to receive a fresh coat of paint. For the best results filling nail holes and other small surface imperfections, lightweight spackling provides a fast-drying, easy-to-apply solution. When patching larger holes, joint compound can be applied in several coats, resulting in no-see repairs. When painting over glossy surfaces, it is important to lightly scuff the surface, so the new paint adheres properly. And although many paints claim to be pre-primed for single coat coverage, a second coat often results in a deeper, more uniform color.
Like other aspects of your home, energy-efficiency breaks-down as appliances and structures age. As you weigh the cost benefits of various home improvements, it pays to be mindful of potential energy upgrades. Is your furnace more than 10 years old? If so, updating to a high-efficiency model not only adds value to your home, but the investment also saves money on the cost of heating your living space.
Capital spending on boilers, furnaces, and energy efficient appliances may exceed cash on hand, calling for some form of supplemental financing. Instalment loans are made available by various lenders, furnishing go-to resources for borrowers interested in steady payback. Other short-term options are also available, and if you have built-up equity in your home, a line of credit furnishes funding with affordable interest rates.
Drapes, blinds and shades serve multiple functions in your home. Not only do they enhance privacy, enabling you to close-off the outside world, but window treatments also control the amount and type of light reaching your interior living spaces. For dramatic results improving your home’s appearance, without spectacular spending, consider updating your window coverings.
Closets, Storage and Organization
Organization is a key selling point for home buyers, but making your closets and storage spaces as functional as possible also improves living conditions in your home. Closet contractors offer ready-made solutions, for a price, but it is also possible to enhance your organizational schemes using DIY approaches. For instance, most home improvement stores market modular systems, easily mounted with screws and brackets. And if you enjoy woodworking, building a custom closet can be a rewarding and functional upgrade. Likewise, nooks and cubbies can be converted into usable storage space, utilizing areas below staircases, for example.
Home improvements serve important functions. Not only do updates keep you more comfortable and enhance your home’s functionality, but residential upgrades also add value and appeal to your property. These are only a few of the many accessible, low-cost improvement strategies at your disposal.