Profitable Home Projects
As homeowners, we’re fortunate enough to have a huge asset on our hands – our house! However, houses can also be incredibly costly if you skip essential repairs, or take on more than you can handle in terms of remodeling or projects. On the flip side, you can also add tremendous value to your home by performing repairs, upgrades, or additions to your home. As such, you’ll up the amount of equity in it, and hopefully be able to sell for more than you paid! One of the keys of turning a profit on your home is knowing what projects to take on. If something is only going to net you $10,000 in added value, it doesn’t make sense to pay $20,000 for its completion. So, today we’re going to share some of our favorite profitable projects!
Siding replacement: One of the most talked about things in terms of selling your home is “curb appeal.” If you’re not familiar with the phrase, it refers to how your house looks from the curb. Replacing siding can increase curb appeal greatly, especially if your home’s looking a little dated or funky. It’ll run you about $9,000, but that money is recouped by lowering heating and air conditioning costs, increasing resale value, and the curb appeal we mentioned previously!
Kitchen remodel: When looking for a house, there are few things worse than walking into a kitchen you could never see yourself cooking in. Prospective homeowners want to see appliances that speak to them, ample counter space, and fresh walls. Shelling out the money now will not only hugely increase your resale value, but also bring you a great deal of happiness as well. Plus, when you invest in energy efficient appliances, you’ll immediately start saving on electric and gas costs!
Window replacement: Windows have so much impact on how the exterior of your home looks, just like siding. Additionally, old, single-pane windows let in cold or warm drafts as well as icky bugs. In fact, around 50% of your heating and cooling costs can be attributed to the quality of your windows. So, knock down those costs and increase the resale value of your home in one fell swoop!
Garage door replacement: While it may not seem like a stunning investment opportunity, this goes back to the curb appeal point, as well as security. If you’ve got a funky, dented, and dirty garage door, it suggests the same about the inside of the home – even if that simply isn’t true! Improve home security, and add to an update look for the relatively low price tag of $1,500.
Deck addition: It’s no secret, everyone loves to barbecue and spend time with the family on a deck in the summer time! Add some lawn chairs and a table, and you’re really in business! Decks are a great addition because they increase the amount of usable space that is part of your home; previously unused space is now open. Costing around $10,000 depending upon materials, you can expect to see most of this recouped when you sell your home.