Springtime brings longer days, better weather, and the greatest of nature’s beauty all around. It’s also a great time for projects around the house, which includes home upgrades. Certain upgrades can really give you bang for your buck, and help increase the value of your home in a big way.
Image via Flickr by Jocey K
Windows are one of the first impressions people will have of your home, and it’s one of the most effective upgrades you can do. The average return on investment for window replacements is 89.6 percent upon resale of the home. In larger cities, the average homeowner recoups more than the cost spent on new windows. However, for some hotter climates such as Arizona and Florida, the recoup value will be lower than in areas that typically have cooler temperatures. Those areas with warm climates also have windows available that contain a Low-E glass, which reflects heat.
Build a Deck
One of the greatest things about owning a home is having yard space to roam around. One of the best enhancements for your home is to add a deck. Both eye-catching and functional, a deck provides space for a family cookout or just soaking up the sun. The national average cost for a new deck is around $7,000, but you will recoup about 82 percent of the installation cost.
Replace Your HVAC System
In addition to cosmetic upgrades, installation of a new HVAC system can really boost your home’s value.
- Newer units tend to be more energy efficient, which could be a significant cost savings for potential homebuyers.
- Geothermal HVAC systems are over 45 percent more energy efficient than regular HVAC units. They are environmentally friendly and can heat or cool a home without burning fossil fuels or emitting greenhouse gases.
Remodel Your Bathroom
A bathroom upgrade is one of the most significant changes you can make to your home, and it pays off incredibly well. A full remodel, including bathtub, sinks, toilet, tile surround, mirrors, and fixtures, can recoup a staggering 102 percent of the cost. The biggest return on investment comes from replacing tile, updating the cabinets, and adding more natural lighting. Depending on how much plumbing or electrical work is required, you can expect to spend an average of $18,000 for a full remodel.
Update Your Kitchen
Everyone loves a beautiful kitchen, which makes it a fabulous spot to upgrade, and you will reap the rewards when you sell your home. A full kitchen remodel includes new countertops, sinks, cabinets, flooring, and appliances. Depending on what you choose for your upgrades, a kitchen makeover can easily bring a 70 percent return on investment when it is time to sell the home.
Any noticeable home improvement will only help you in the long run. Unfortunately, to really make an impact on the selling price of your home, a significant investment is usually required. However, you get to enjoy the beautiful home additions, and when you are ready to sell, you can expect a high return on your investment.