Denton County Living Well Magazine May/June 2017 | Page 23

By Glen McKenzie
4 Home Improvement Projects
with High Long-Term Return
I
f you’ve lived in North Texas for any
length of time, you’ve seen the tre-
mendous growth in this market. In
fact, over the last few years, home
inventory has been extremely tight.
We’ve seen homebuyers, in many cas-
es, searching for a home for well over
a year. This has many people “rethink-
ing” a move and deciding to upgrade
their existing home.
When you’re making improvements or
investing in a remodel to your home,
you’re not just making your life better
in the short term. You’re also making
an investment in your future. Ideally,
the increase in the value of your home
will exceed the cost of the improve-
ment.
However, it seldom works out like that.
It may take years for the appreciation
in your home to recoup the expense of
an improvement. If you’re looking for
an investment, putting your money in
a share certificate or other long-term
investment option might net you more.
When you’re making home improve-
ments, though, you’re looking for ways
to improve your quality of life while
being as cost effective as possible.
Calculating the return-on-investment
(ROI) can be difficult because the
data is based on national averages.
For instance, in drought-afflicted parts
of the country, water-efficient fixtures,
rainwater collection facilities, and low-
water landscaping will pay long-term
dividends. In places with lots of solar
exposure and high utility costs, solar
panels will make your home more
cost-efficient and attractive to buyers.
Keeping that in mind, finding out what
works for your market therefore de-
pends a lot on trends and local condi-
tions. LOC) and you may be able to save
money by doing part or all of them
yourself! By the way, consult your tax
adviser to determine if these improve-
ments apply for tax deductions. There’s
a reason all of these “fixer upper” type
shows are so popular!
There’s some good news if you’re
looking for more universal approaches
for getting the best increase in value
for your home improvement dollar.
There’re a few simple rules to follow.
Seek relatively low-cost improvements
that require little to no maintenance.
They should immediately distinguish
your house from similar homes and,
ideally, they also improve the energy
efficiency of your home. Why not start your home remodeling
project with the first thing you interact
with on your house: the front door.
Upgrading an old, poorly-fitting front
door with a newer energy-efficient
model is a cheap, quick project that
can instantly improve your home’s ef-
ficiency and aesthetic appeal.
Here are four home remodel projects
that can improve the resale value of
your home. They’re excellent uses for
your home equity line of credit (HE-
1) Replace the front door
There’s an old adage in real estate that
suggests the features get tours, but the
front porch gets sales. People make
decisions on home-buying all the time
by starting with a home’s curb appeal
and finding reasons to support it later.
With an average price of over $1,000,
including labor, an energy-efficient
front door has an ROI of 98%! It’s also
a chance to be creative. A new front
door can add a splash of color, and
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DENTON COUNTY Living Well Magazine | MAY/JUNE 2017
21