Most homeowners would like to find that one home improvement project that adds value to their home. Some home improvement projects add more value to a home than others. In this week’s blog post, we will discuss three home improvement projects that are overlooked and undervalued, but yet, add significant equity to your home.
When you and your spouse begin discussing ideas for home improvement projects, remember that your return on investment (ROI) will vary depending on where in the country you live, the time of year, and the types of materials that are used. If you’re looking to add value to your humble abode, research some of the commonly featured amenities in some of the homes in your neighborhood. This will give you an idea of which home improvement projects to consider investing your money in. So, the mystery question is which home improvement projects really do enhance the value of your home?
Price Is What You Pay Value Is What You Get
Realtors tend to put less value on high-end projects. That’s because they have concerns about how well a home will sell. Topping the chart of home improvements that offer the greatest ROI is fiberglass insulation.
Yes, we know it’s not exactly an eye-popping investment, but it’s worth the cost. In fact, adding blown-in fiberglass insulation to the attic area of a home is the only investment that consistently pays back more than you spend, with an average return on investment of 107%.
Homes that cater to the elderly and physically disabled are amongst some of the hottest trends in the home renovation market this fall season. Adding grip bars in showers, lever-style doorknobs, and wider entry door areas for wheelchair access garner a modest 68% return on investment. Universally designed homes that cater to the disabled are an attractive option. That’s because there’s a rapidly growing number of disabled and elderly people who are looking to purchase a home.
It’s a Steal
Are you considering replacing that run-of-the-mill entry door with a more appealing steel door? Maybe you should. Steel doors have proven to guarantee a 90.7 % return on investment. They are known to boost a homes’ curb appeal. Steel doors are an attractive feature and go a long way in making a good first impression on someone that is looking to purchase a home. Steel doors can also make your home more energy efficient. That’s because they come with weather stripping.
When Should You Renovate?
Homeowners sometimes have trouble coming to grips because they don’t always realize that some home renovation projects just aren’t worth the investment. For those of you who are considering renovating your home, you need to ask yourself one question: How much longer do I plan on living here? If you’re ready to move now, then looking at your return on investment makes plenty of sense. In this case, you should consider investing in a home renovation project.
Remember that the next person who purchases your home may not have the same fashion sense as you. It’s important to highlight what a prospective buyer is looking for when they’re seeking to purchase a home in your neighborhood. For example, a deck maybe be a big deal in Baltimore. However, recessed lighting may be more popular amongst home buyers in Washington, D.C.
If you’re looking for help with your next home renovation project, why not contact Cameron Home Insulation today at (443) 290-5182. Let us help you maximize your return on investment.