With the explosion of internet connected appliances, home battery tech, and smart thermostats, what projects really add value to your home? Is it the new home tech you see in tech magazines? Or do commonly started projects like a kitchen renovation or landscaping changes provide more value to your home? It turns out, both are valuable when done correctly but it’s important to keep in mind what is valuable to your local housing market. Here’s why:
Simple Home Maintenance:
The absolute most important thing you can do for your home is to keep up with the maintenance. By making sure your bases are covered with your foundation, roof doors and windows you can substantially increase the value of your home and it will pay for itself when potential buyers are looking for a new place. A home with good bones can go a very long way.
Most people decide to renovate one of the following spaces in their home: bathrooms, bedrooms, kitchens, living rooms, basements, and outdoor areas. Which makes sense, since we truly live in these areas. Larger upgrades, however, can add up quickly and may not return your investment. Minor upgrades to kitchens and bathrooms can recoup a lot of the costs and quickly. Research suggests a remodel of about 20,000 dollars recoups about 80 percent of the initial investment.
Fancy getting internet connected refrigerator that will text you to pick up some milk and eggs next time you go to the grocery store? While the ability to organize and make note of these things is absolutely amazing, it’s to your benefit to wait for your forever home to purchase this item. There are a few tech-heavy upgrades that are worth it. A smart thermostat can save you thousands over the course of a few years by optimizing your heating and cooling to only kick on when you are home and to power off when you are away. Another great option is a consider a change in your water heating device. This resource shows you which water heaters are eligible for federal and state incentives which will allow you to ensure you are getting the most efficient model for both energy use and cost available.
Make sure your bases are covered with the bones of your home. Siding replacements, gutters upkeep or replacement, a good front door, sound roof and adequate insulation are all things home buyers look for and can make a sizable difference when they look to purchase their dream home. Avoid expensive remodels of living rooms, kitchens and bathrooms unless you plan on staying in your home for a long time. Smaller remodels (about 20,000 dollars) offer good returns on these spaces, so use this as a guideline when planning. Some high-tech upgrades have bigger upsides than others, but look for what will give you the most bang for your buck and stick to that first.