Your home is not only a place to live but also an asset that can appreciate over time. Investing your money in upgrades can significantly enhance your home’s market value. Investing money in your home is a wise financial decision and a way to customize your home to meet your lifestyle needs better. The following upgrades will increase your home value and make your home a nicer place to be.
Kitchen Upgrades
If you ask a realtor what sells a home, you will likely hear kitchens and bathrooms. The fact is that the kitchen is one of the busiest rooms in the home. It is often referred to as the heart of the home because it is the room that sees the most traffic and the most gathering. Upgrading your kitchen can instantly add value to your home.
Investing money in new kitchen appliances, cosmetic upgrades, lighting, and fixtures will make your home more aesthetically pleasing. It will also make your kitchen more functional. You can expect a return on your investment for any upgrades you make in the kitchen.
Bathroom Upgrades
As previously mentioned, kitchens and bathrooms sell a home. Investing money in new plumbing fixtures, flooring, and cosmetic upgrades will yield a 27% return on your investment. Additionally, upgrading your bathroom can help make your bathroom a healthier environment.
According to Enviro, bacteria can increase by about 31% daily, even on regularly sanitized surfaces. Old worn surfaces develop nooks and crannies from small surface scratches, making it difficult to clean. New surfaces can help keep your bathroom cleaner and germs down.
Smart Home Upgrades
Smart home upgrades like adding a smart thermostat to your HVAC system can add value to your home and significantly save you money on your energy bills. According to Webinar Care, about 33 million homeowners in the United States have already switched to smart thermostats. Of course, smart thermostats are only part of the smart home upgrade options.
Smart security systems and other smart systems can upgrade your home while improving safety and security. According to the Department of Justice, in-home violent attacks are rising. Domestic violence can result in up to five years in prison. However, the damage is already done. Smart systems can keep everyone in your home safe.
Basement Upgrades
A basement upgrade is a great place to invest your money in your home. Basement upgrades can greatly expand your living space and result in a nice return on your investment. A finished basement can come with a 60% return on your investment. Finished basements can be used to meet a wide range of needs like creating a space for a home office.
Upgrading your basement will upgrade your lifestyle. A basement area can be used for guest quarters, playrooms, game rooms, and more. If you want to invest your money in an upgrade that will greatly impact the value of your home and your lifestyle, look below your feet.
Window Upgrades
Replacement windows and doors are a great money investment because they pay you back in several ways. According to the Department of Energy, about 30% of heating and cooling losses occur because of old windows and doors. Replacing your windows and doors will instantly increase your home’s energy efficiency.
You can expect a return on your window and door investment of about 29%. New windows and doors improve your home inside and out. They upgrade the aesthetic of your home while upgrading the comfort of your home. Windows and doors are a great investment for any home.
Putting your money where it will do the most good is essential when you are considering home upgrades. Consider upgrades that will pay you back by increasing your home’s value. Learn more money tips today.