Whether you’ve just moved into your first home or have lived in the same house for decades, it’s important to keep the look, feel and functionality of any home in its best shape. Some homes naturally need a little more TLC than others, depending on their age, cost and overall design. Even the best and newest homes will sooner or later find themselves in need of vital repairs and remodeling.
Many homeowners are passionate about maintaining – or enhancing – overall home value. At the same time, maximizing efficiency and livability should be a goal whether or not more value is extracted. Thankfully, there are ways to get both benefits at the same time.
Today, we’ll outline six construction projects in and around the home that can add real, substantial value – financially and functionally.
Finishing the Basement
Whether your home has a full or partial basement, there is a good chance that the total square footage comprises a significant share of your home’s potential. Yet unfinished basements are so common, often hindering the true resale of a home. Fortunately, it isn’t too difficult to jazz up a drab, concrete basement with some basic improvements.
One easy way to add value and appeal is to finish the walls in any bare basement. Using a drywall installation calculator, you can easily determine how much product will be needed to finish the job. You’ll also need lumber, insulation and a variety of tools if doing the project yourself, but the overall process is simple enough considering that it – combined with other improvements in the basement – can add anywhere from thousands to tens of thousands in value.
Replacing Old Windows
The look and feel of homes as they age can change considerably: one of the first signs of aging appears in both the functionality and appearance of windows. From double-pane windows that have failed seals and become foggy to rusty-looking metal on the interior of the home, this is both an eyesore and a huge loss in potential value.
Replacement windows can be a great investment for multiple reasons. First of all, newer windows are much more energy efficient, blocking out excess heat in warmer months and keeping it in during colder ones. In addition, the inherent value they add to any home is immense: expect an approximately 80 percent return on investment (which doesn’t include energy savings).
Investing in Better Siding
Due to the elements, the exteriors of most homes quickly begin showing their age. This merits the occasional paint job or – in many cases – vinyl siding replacement. There are many types of vinyl siding to consider, and not all of it is comparable in quality.
Fiber cement siding has become increasingly popular due to its durability across multiple categories. Not only is it more fire-resistant than traditional siding, but it also resists cracking and provides a better insulation value than standard siding.
Getting New Doors
The first thing people see as they’re entering your home is the front door. Likewise, doors are a commonly noticed fixture in the home due to there being so many leading from room to room. Styles change and the quality of both interior and exterior doors can sometimes be lacking in newly constructed homes.
That’s why so many homeowners have embarked on a mission to replace many of their doors with stronger, more energy efficient solutions. It’s worth noting that a home’s value can be enhanced not just by replacing the front door or doors throughout the home, but also the garage door, which tends to suffer more from dings, scratches and other forms of accidental damage.
Building a Deck
Amenities are everything in the housing market these days. People are willing to pay a premium for valuable, aesthetically pleasing home accessories and fixtures: if you’re willing to invest now, then you can gain big come selling time. A wooden deck is one such example where you can add real value.
Whether it is to frame a swimming pool or merely enjoy the peace of the back yard, a new deck can be constructed for as little as a few thousand dollars. Generally, it adds about twice that in value to any home.
Constructing a Pond
Another great way to add value and improve the aesthetic charm of your property is to add a small pond somewhere in the yard. Ponds make great focal points for larger landscaping projects and can be the perfect centerpiece for outdoor activities. While a large pond for fishing might not be economical, a smaller pond, one between 100 and 500 square feet, allows for everything from aquaculture to private, romantic ambiance in one’s own back yard.
These six home construction projects involve improving both the interior and exterior of the home- as well as the surrounding property – and can be real winners when putting any home on the market. In the meantime, you’ll still be able to enjoy the inherent value they provide to anybody living in the home, whether it be functionality, entertainment or simple peace of mind.