The best way to maximize the value of your property is to improve it. These improvements can be as small as painting your front door to adding an outdoor living area. The idea is to keep your home in the best condition possible while you live there. Don’t let small repairs slide. Then, should you need to sell your home, you won’t be out thousands of dollars all at once to get it in sellable condition.
Let’s talk about updates or improvements to keep your house in the best condition.
Your home is only as study as the structure. It’s important to keep the major parts of your home free of problems. If you live in an area that has harsh weather; high winds, ice, and hail, etc, your roof will likely sustain damage. It’s a good idea to hire a reliable roofing company to do an annual inspection on your roof to check for damage. Once you start seeing water spots on ceilings, it’s too late. You’ll have to add the cost of repairing drywall to the cost of the roof repairs necessary.
If you notice interior doors not closing properly or see cracks around door frames and in joints; you may have foundation issues. Don’t let the fear of encountering a huge repair bill keep you from calling a reputable foundation repair company. It could be a simple fix. If you ignore the problem, it could turn into a disaster that will cost you so much more in the long run. Sometimes it’s seasonal; doors stick in the winter but open fine in the summer. Get to know your house and it’s quirks.
You want your home to stand for a hundred years and taking care of major structure issues will help ensure that happens.
One of the more expensive home repairs or updates you can do is to update your heating and cooling systems. Old air conditioning units will cost you hundreds if not thousands of dollars in utility bills over time. Making an investment in a more energy efficient HV/AC system will pay for itself in time. Be sure your windows are sealed and you have enough insulation to keep the cool air inside and the hot air out.
Having an updated HV/AC system is very appealing to home buyers. If you already have that area covered while you’re living in your home; you won’t have to pay for the update when you decide to sell.
There are many reasons why homeowners might want to fix up their homes; it can be as simple as needing to refresh your décor or as major as needing a more functional kitchen. A deciding factor is cost. If your wanting to give your home a refresh, you can simply start with a fresh coat of paint. Adding an accent wall in your living room or bedroom can give a brand new feel to the space.
A major renovation like updating your kitchen will be more expensive and will likely involve hiring professionals. It may be that just painting your cabinets and adding a pretty backsplash can do the trick.
Flooring is another option for giving big impact to the look of your home. Pulling up old carpet and adding hardwood or laminate floors is a choice being made by many homeowners. Before you make a decision on floors, consider your lifestyle. If you have big dogs, remember that their nails can scratch hardwood floors very easily. A wood look laminate may be the better choice. Porcelain or ceramic tile is another great option. They even make ceramic tile that looks like wood planks. Do your research and choose the best flooring for you.
This will add the value to your home that will pay off if you decide to sell.
Plan it out
Keeping your home in the best condition possible will pay off in peace of mind and overall enjoyment of what is likely your largest investment. If you’re just getting started with updates and repairs, it’s best to have a plan before tackling things. Most projects will take more money that you think. That’s why you need to start with a plan and budget on what exactly you want to accomplish.
Do research. If you’re hiring a contractor; talk to people you trust for recommendations. Check with the Better Business Bureau before hiring anyone to be sure they don’t have a list of unresolved complaints. Interview at least three contractors and compare their bids. Go with your gut.
To pay for major updates or repairs, consider a home equity loan. Most states will let you borrow up to 80% of the appraised value of your home. You’ll then start with a new mortgage for that amount and can take the extra money to use on upgrades. But, be careful because your house payment will go up so be sure you can handle the extra each month.