Owning a home is a dream that many people have. It is believed that real estate is one of the greatest investments that can be added to a well rounded portfolio. One issue that plagues homeowners is how to invest money into their house to ensure that the expense of the renovation is recouped in an increase to the homes market value.
It is almost impossible to get a return of investment of one hundred percent on home renovations no matter if the budget is two thousand dollars or twenty thousand dollars. It is however a good idea to invest in renovations that are proven to increase the value of the property. Building equity into a home is a smart way to invest money. Smart investments done around the home can pay homeowners back.
Home improvements that improve the energy efficiency of your home are smart choices as they save you money straight away with a decrease in monthly expenses. They are also smart choices for resale value in that most homeowners are looking for these upgrades when seeking a home to purchase. Buyers will pay more for “green” renovations.
Some of the best energy efficient improvements that can be made are upgrades in windows, doors and appliances. By replacing older, worn out windows that leak saves homeowners on average four to five hundred dollars a year with decreased utility payments. New, properly sealed windows help to keep the temperature in place. The same is true of installing a steel entry door. Both replacements can return close to ninety six percent of their initial cost in resale value while saving on monthly utility expenses. Energy star appliance upgrades also offer a great return on investment and can often offer some serious savings in the form of tax credits.
Exterior home improvements also serve as great projects for homeowners looking to maximize their return of investment while increasing the enjoyment that they get out of their home. Replacing a garage door, for instance, can cost upwards of fifteen hundred dollars. This home improvement is on average known to bring in an eighty five percent return on investment with an increase in the homes market value.
New siding and updated shutters can give a home a fresh, modern look that makes a home pop. Many homeowners comment that new siding; a fresh, updated color can make a home that they have lived in for years feel brand new. The ROI on an improvement such as this can be upwards of eighty percent.
As a homeowner, if you are seeking something a bit more classic out of exterior remodeling install aluminum fencing. Not only does aluminum fencing increase the aesthetics of the landscape it adds to the homes security. Over other types of landscape improvements, aluminum fencing is preferred because it is easy to maintain and its presence within the yard is surprisingly powerful to the overall look of the home. When installed within a well kept landscape, aluminum fencing can alter the entire look of the home’s exterior and increase the market value of your home.
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