Investing in your home is generally a smart financial move. It’s important to remember that whatever renovation spending you do, you have to expect it to be a sunk cost! Best case scenario, you see that money back (and then some!) when you sell. Worst case scenario, you get to live in a home you enjoy more because of the changes you made.
What are the three smartest investments to make in your home? It’s a loaded question, but factoring in resale value, wide appeal, and the livability of the changes themselves, here are our thoughts.
- Update the Kitchen
…To an extent! If you love to cook and spend a lot of time in your kitchen, or if your floor plan is very open, a kitchen remodel can be a great way to spend money. Updated appliances, colors, and countertops always “sell” a home well, but don’t be tempted to go for super high-end finishes. Studies show you won’t get that money back. Make investments you’ll get the most enjoyment from while you live in the home and you’ll see it pay off in the long run. - New Siding
Is the siding on your home looking less than perfect? If so, updating worn, cracked, old siding can drastically improve the curb appeal of your home. Not only that, but updated siding is more likely to keep problems at bay; bugs, water leaks, and even poor HVAC efficiency can all be attributed to aging siding! If your home doesn’t have siding, it’s still a good investment to maintain its exterior material whether it’s brick, wood, or stucco. Buyers will notice defects in the exterior of your home and demand they be fixed. Do it now. - Add a Bath
If you really want to add long-term value to your home and you have some money to invest, adding an additional bathroom can help. Particularly if your home only has one bath, adding a second can get you tens of thousands in return when you eventually hit the market. Don’t worry about making it a spa experience – a simply shower/tub combo, sink, and toilet does the trick! And just imagine how convenient it will be to have an extra bathroom for guests or kids to use while you’re in the home.
Creative Home Stagers are experts on improving your home! Whether it’s a simple update or a full-scale remodel, having design help can make all the difference. Call us today to get started!