What Home Improvements Are the Best For Your Home?

Posted by EdmontonRealEstate .ca on Friday, March 15th, 2019 at 2:48pm.

The Best Home Improvements for Your Edmonton HomeProperty owners should always be concerned with the value of their home, whether they are hoping to sell in the near future or they are looking for long-term investment growth. One of the best ways to boost the value of a property in competitive markets like Glenora is to complete home improvement projects that offer a good return on investment.

5 Home Improvements With the Best ROI

Here are 5 home improvement projects that offer the best ROI for residential homeowners or property investors:

Kitchen and Bathroom Renovations

These are tried-and-true home improvements, and nearly everyone knows that they will add value to a property. However, it's become a home improvement cliche because it works. Many buyers today are looking for a home that offers state-of-the-art appliances, granite countertops and modern cabinets, and they don't want to do the work themselves after they move in. By investing in tasteful, neutral kitchen and bathroom upgrades, a property owner can enjoy an investment return of up to 80 percent or higher.

New Roof

Property owners who plan to list in the near future and know that the roof is reaching the end of its expected lifespan should bump this project up to the top of their home improvement lists. Buyers have been known to walk away from deals if the roof is in bad shape. Listing a property with a new roof improves not only the value but also the marketability of a home. A new roof could offer an ROI of more than 105 percent.

Landscaping Improvements

This home improvement project sometimes comes as a surprise to property owners who are more focused on ROI than the ability to sell a home as quickly as possible. While landscaping improvements obviously increase the curb appeal of a home, they also can improve the overall property value. Flowering plants and mature trees are worthwhile landscaping additions, according to Houselogic, and the ROI can be as high as 105 percent.

Insulation

This is a hidden home improvement project, because the benefits cannot be immediately seen from the exterior or interior of the home. However, home buyers today are often just as concerned with the sustainability of their property as they are its general appearance. Attic insulation not only adds to the value of a property, but it also makes the home more efficient. The new homeowner will be pleased that their energy bills will be lower, while the property owner will enjoy the significant return on their investment. In many cases, additional attic insulation can offer an ROI between 95 and 117 percent.

Basement Upgrades

Years ago, basements were considered to be extra storage space and a place to shelter in the event of severe weather. Today, many homeowners consider their basements to be an extension of their living space. Adding drywall and a ceiling to a basement can make it more functional, while carpet, appliances and plumbing can transform it into a comfortable place to hang out. The ROI on this project is about 70 percent.

Home improvement projects are a rewarding venture for many property owners. For those who are intending to live in their home for a bit longer, they can enjoy the upgrades while their property value continues to rise. For those who are looking to list their property on the market, they will enjoy a significant ROI that will allow them to reap the benefits of their original investment.

Can you Update Your Home on a Tight Budget?

Whether you just bought a home and it needs a little sprucing up or you've lived in your home for years, updating it doesn't have to be expensive. Even with the smallest budget, there are things you can do to update your home. Here's what you can do on a small budget.

$5,000 Budget

This may not seem like a tight budget, but for some homeowners, it's very tight. ON a $5,000 budget, you can make serious changes to specific area of your home. Some of the things you might consider doing include:

  • New Kitchen Counters
  • New Wood Floors in the Kitchen
  • Retile your Bathrooms
  • New Plumbing Fixtures
  • New Furniture in the Family Room
  • Updated Window Coverings
  • Paint Most Rooms
  • And More!

It's still a tight budget and you won't be able to do everything, but with $5,000, you can do enough in just about every room to really update your home.

$1,000 Budget

If you only have $1,000 to work with, you won't be able to do nearly as much, but you can still update some things throughout your home. Some of the updates to consider on this type of budget include:

  • Paint the Cabinets
  • Replace Cabinet Hardware
  • Replace Outdated Lighting
  • Add a New Faucet to the Kitchen
  • Replace the Backsplash
  • Add new Tile to the Bathroom
  • And More!

You may only be able to focus on one or two rooms with $1,000, but you can add enough to make a difference.

$500 Budget

With $500, you won't be able to do much, but you can still update your home. This small of a budget means you can add decor, paint and maybe a little bit more. You won't be able to replace much flooring or many fixtures, but with a fresh coat of paint in every room, your home will feel updates.

$100 Budget

Maybe you're working with a very tight budget of just $100. With this much, you can still paint a room or two. If you don't want to paint, a few throw pillows, knick-knacks and new wall shelves can certainly make a room or two feel newer.

Your budget may be tighter than you'd like, but you can still update a few rooms within your home. Whether you only have $100 or you have $5,000, you can make some changes and spruce up your home.

Which Improvements Come First when Buying an Older Home?

You got a great deal on your new home and it has so much charm like older homes do. It can be very simple to transform your new home to your dream home. When you buy an older home there will be some things you need to do to update it immediately. Some are for safety and some are for the functionality of your home.

Start with the Security – Old Homes Aren’t Very Secure

The first thing you want to work on when you move into a new home is the security. Changing the locks on the doors and updating the house with an alarm system is a good idea. Most old houses don't have deadbolts so a good plan is to install some and start feeling a lot more secure in your new home.

Upgrade the Roof

Check the roof to see if it needs to be replaced or repaired. You don't want to deal with leaks in your roof that you don't find out about until the first time it rains.

Upgrade the Heating and Cooling System

You need to update the heating and cooling system of the home as well to make sure they are working properly. The best thing to do is have a professional inspect your system and see if it will work for your needs. You can always update the flooring in your home and pull up old carpet to give it a fresh look. You might find there are some hardwood floors underneath the carpet that you can use.

Upgrade the Windows

New windows will also help you keep heat in your home and save on power. Older windows might let the elements creep in. When you put up new windows your new heating and air unit can do its job.

Keep in mind, these are just a few of the many chances you can make to an older home after buying it.

Should You DIY or Hire a Professional?

Summer is the perfect time to complete a few renovations and home repair. With that in mind, there are some tips to help you get the most out of your time spent and make sure you are not spinning in circles, whether you decide to do it yourself or hire a professional.

DIY Home Improvement Tips

If you are planning to do some home improvement yourself, set up a plan beforehand. You are your own contractor in this case, so setting up a timeline for completion can be a big help. Make sure that everyone in your family is aware of work you will be doing.

This can help avoid a big mess if you are working on a sink and someone turns on the water when you are not there. When you are finished, make sure you change out the filters to your HVAC system. Changing the filters annually can help reduce costs and wear and tear on your system.

Doing renovations on your home is a great thing and can both improve the value of your home and reduce your annual costs. However, keep these simple tips in mind whether you go with a contractor or decide to DIY it.

What to Consider Before Hiring A Contractor?

It may sound easy to pick the right contractor, but it's not. However, with many home improvement website helping you out, this doesn't have to be as difficult. The problem is, who do you trust when it comes to renovating your home? Here are a few things to consider whenever hiring a contractor.

There are different types of contractors. They are not all equal and you need to make sure you get the right one for your needs. Some contractors specialize in home construction, while others don't. You can even take that a bit further and understand that some home contractors specializes in one part of the house, such as the kitchen or the bathroom.

It's also vital that you ask for and check references. Knowing some of the places that your contractor has worked and hearing that their work has paid off for others, you will have more trust and confidence in your contractor. This can also help you to see how the contractor works and what to expect.

You want to have multiple contractors provide you with bids for the job. Make sure the bid is in writing and will become a contract if you accept the bid. The lowest bid may not be the best choice, but making contractors give you a bid will help you get an idea of how professional they are and how they work.

These are just a few tips you want to use to help you find the right contractor. Anytime you can get a personal recommendation from a family member or friend, you should take it. This gives you the ability to see the contractor's work before they work on your home.

Renovate Your Edmonton Home Today

To find out more information about which home improvement projects would be right for your property, contact an experienced contractor now.

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