Follow these ideas to add value to your home at a range of costs
Cervone, Deegan + Associates understands that most homeowners want to periodically improve their homes for better enjoyment or for resale purposes. Home improvement projects can really range in size, cost and return on investment so it is wise to give some thought and research those that will be most beneficial to you. Here is a closer look at many of them that will help increase your home’s value.
Everyone loves the outdoors and even more so these days given the recent pandemic restrictions. Recent surveys have shown most homeowners want either a large deck or outdoor entertaining area like a patio where they can gather with friends and family. A deck can cost roughly $5,000-$10,000 and studies show that you can recapture roughly ⅔ of that upon resale.
This can really range depending on what is needed and what you want to do. On the less expensive side for in the hundreds of dollars range you can do some landscaping. Consider things like adding potted plants, flowers and mulching beds. Next up you could consider upgrading that front door and garage doors to something more architecturally stimulating for closer to the $1-2k range. Finally, should your home be in need of a paint job you could consider doing that and select a neutral color that appeals to the masses while making your home look fresh and well maintained. It is estimated that you’d recover nearly half of the investment for this project upon resale.
Increased Living Space
Especially these days everyone wants more space in their homes. The obvious and most common expansion for most would be finishing off a basement or attic. Statistically finishing a basement is less expensive than an attic and can recapture nearly ⅔ of the cost upon selling. The cost to do this can really range from a few thousand to tens of thousands depending on size and scope of what you do. It is worth noting that adding a bedroom or bathroom also helps increase value even more so.
Give Your Home “Smarts”
Among some of the cheaper options that can really improve your daily life would be to add some smart technology to your home. Great ideas include smart thermostats, door locks and video doorbells as they make things more convenient, safe and cost effective while they can be sold with your home if you plan on selling. Smart lights and timers also add great ease to your life while you live in the home.