Home Projects That Can Increase the Value of Your Home
When it comes to home improvement, it can be overwhelming to decide on which projects to tackle first. From basic projects to refresh your home, to more complex updates to completely transform your space, home improvement projects can help provide the updates your home needs while possibly adding additional value to your home.
Home improvement projects could potentially increase the value of your home, even if you’re not planning on moving anytime soon. In this article, we discuss a few projects that may increase your home’s value, and help you transform your current home into your dream home, using your home’s equity to cover the expenses.
The kitchen is the heart and soul of the home, and one of the most important rooms in a house to keep updated. The cost of a kitchen remodel can vary depending on the complexity of the job and the materials you choose. A minor kitchen remodel may include new hardware and paint for the cabinets, updated countertops, new tile flooring, or an updated backsplash. A more complex remodel could involve changing the layout of the kitchen, replacing cabinets, and purchasing new appliances.
Average cost: $35,317*
If you notice water stains on your ceiling or curling or missing shingles, your roof is showing its age, and it’s most likely time for it to be replaced. Replacing your roof is not as glamorous as a kitchen remodel. However, it should still be a top priority as it will help keep your house and family safe, while improving its curb appeal. Plus, if you are looking to sell in the near future, a new roof will be appealing to potential buyers. The cost will depend on the size, pitch, accessibility and roofing material used. Most houses in our area use asphalt architectural shingles which are known for their durability.
Average cost: $9,375*
Even if your home isn't on the market, curb appeal does matter. Make your house the envy of the neighborhood with simple projects that update its outward appearance, such as adding trees and shrubs, installing outdoor lighting, or building a front porch or patio area. Not only could landscaping projects potentially deliver big returns on your investment, they’ll also make your yard more enjoyable for you and your family.
Average cost (minor landscaping): $2,389*
Average cost (deck or patio): $7,994*
In addition to landscaping, another way to boost your home’s curb appeal is by updating the siding. Today, there are many options, colors, and materials for you to choose from to make the exterior of your house look beautiful and refreshed. Some of the most popular siding materials are vinyl, cedar wood shingles, fiber cement, engineered wood, and stucco.
Average cost: $13,974*
Are your windows showing signs of age? With high humidity levels in the Midlands, wooden windows will decay more quickly than vinyl. Older windows have a tendency to create a draft, while newer, more energy efficient windows can prevent a draft, resulting in saving on your energy bill.
A standard vinyl replacement window is a more cost-effective option, while something more modern like a wooden window is more expensive. Removal of your old window and frame prior to installing a new window is also its own separate cost. Then, you also need to consider how many windows need to be replaced. For example, the average single family home in our area has roughly 10 windows.
Average cost: $9,131*
Ready to get started?
If you've lived in your home for a few years, or you put money down when you purchased your home, you may have equity in your home. Help cover the cost of your upcoming project by using your home's equity to get a Home Equity Loan or Home Equity Line of Credit. You can borrow up to 80% of your home's current value, minus any existing first mortgage balance.
*Home repair estimates and average costs provided in this article were from Homeadvisor, Inc. © 2021 All rights reserved. AllSouth strives to keep its information accurate and up to date.