Momentum - Business to Business Online Magazine | Page 31
5 Home Improvement
Projects that Can Add
Value to Your Home
By: Lauri Coppock, Sr Loan Officer, PrimeLending, A Plains Capital Company
That home renovation project you’ve been considering
might look great on Houzz, but is it worth the
investment? When it comes to home improvement,
“Will this help my house’s resale value?” may be the
most critical question you need to ask yourself before
heading to the hardware store or hiring a contractor.
If you anticipate selling your home in the near future,
here’s a list of renovation projects that can boost
your home’s value to potential buyers:
1.Replace the Front Door with Steel
The front door is one of the first things people
notice about your home. In addition to adding
instant curb appeal, a steel front door can help you
save money. Thanks to foam insulation, steel doors
are more energy efficient than wooden or fiberglass
doors, meaning lower energy bills. They’re sturdy
and weather-resistant, and they offer better security
against break-ins than other types of doors. Think
about it: it’s much tougher for a burglar to quickly
and discreetly break down a steel door. In addition
to blocking air from getting in and out, seals on steel
doors can also help stop outside noise
2. Revamp the Kitchen
Whether you decide to selectively upgrade the
kitchen or completely renovate it, it’s likely to pay off.
As they say, “The kitchen is the heart of the home,”
making it one of the most important rooms that
homebuyers take into consideration when house
hunting. A complete renovation might be a good idea
if the kitchen’s layout is awkward and if adding an
island can provide some extra space to prepare food.
New appliances and upgraded countertops can also
go a long way in freshening up your kitchen’s look and
they’re high on many buyers’ wish lists.
3. Finish the Attic or Basement
If you have an attic or basement in your home, you’re
likely to add value if they’re finished. No matter if
you plan to use attic or basement space for an extra
bedroom, an office or something else, they add extra
room and square footage, which is attractive to
homebuyers. Over the past few years, homes with
attic bedrooms have been a hot commodity on the
market. The typical cost recouped for insulated attics
is about 116%, according to Remodeling Magazine’s
2016 Cost.Vs.Value report.
4.Update Your Lighting
Good lighting is everything when it comes to making
a home feel inviting and cozy. Exterior lighting can give
a home extra curbside appeal and make it elegantly
stand out. The right ceiling and wall lighting can help
brighten up dark rooms and is a great way to help
transform the interior of older houses. A quick way
to give your home a more modern feel is to replace
older light fixtures. Certain lighting styles, like recessed
lighting, remains a popular way to accentuate some
rooms. For other lighting effects, you can add lighting
to bookshelves or under cabinets to create a custom
feel with a punch of drama.
5. Add a Deck
There’s no better place to relax on a warm day than
from the comfort of your own deck. Decks make
perfect spots for summer grilling and entertaining,
which are just some of the reasons that many house
hunters seek homes that have already them. Adding
either a wooden or composite one to your home
will help add some extra living space while boosting
your home’s value and making your yard look more
appealing. Depending on the size of the deck you
want and whether you plan on building it yourself or
hiring a builder, some decks can be built in as little as
three or four weeks. Deck additions, depending on
what type of deck, can recoup a cost between 64 and
75 percent.
MOMENTUM / September 2016
31