The spring season is one of the best times of the year to make home improvements. The warm air and blooming flowers make it easier to complete outdoor projects on your radar. Even small, DIY improvements can bring a significant return on investment. Here are six ways to add value to your home.
1. Update flooring:
Did you know 66% of people prefer hardwood floors in their dream home? It could be time to rip up that worn carpet or vinyl to see if hardwood is hiding underneath. Don’t be surprised if you discover tile during the process. Both types of flooring can get expensive, according to realtor.com.
- Hardwood: $5-$10 per square foot
- Tile: $12-$25 per square foot
Hardwood and tile both have at least a 70% return on investment and will make your home shine when it comes time to sell.
2. Enhance curb appeal with new landscaping:
Curb appeal is your home’s first impression on potential buyers and visitors. A well-landscaped yard can improve its value by thousands of dollars in one weekend. A first step could be filling in unattractive patches with grass seed or adding fertilizer to eliminate weeds. A clear edge between your lawn and mulch beds can help prevent those weeds from killing your grass. Fresh mulch, new plants, and a few window boxes will help bring new life to your exterior.
3. Give your kitchen a facelift:
A full kitchen remodel could cost between $14,000-$40,000 but there are many ways to renovate on a budget. Two cheaper projects to start your remodel are painting cabinets and resurfacing countertops. If you are looking to modernize your kitchen, consider replacing your handles or knobs and utilizing space with floating shelves. A second item that could help with space is a roll way island. This can be an area to store extra appliances, as well as prepare meals to help your countertops stay in better shape over time.
4. Mid-range bathroom remodel:
Whether your design is modern or industrial, updated faucets, a new vanity and fresh paint can drive up the price of your home. It’s a cheap project you can do yourself with an average return on investment of more than 70%. A second cost-effective D-I-Y is painting your tub. It’s a step-by-step process, but with correct materials, it could look brand new and make your bathroom feel like a full renovation.
5. Add a deck or patio:
A new deck or patio is a great space to spend time with friends and family. It’s also a great way to add value to your home.
- Deck: $5000-$16,000 / Return on investment: 73%
- Patio: $2000-$4000 / Return on Investment: 30-60%
A patio is usually more affordable but uneven areas could cause cracking. As for a deck, a permit could be required on top of recommended upkeep of power washing and re-staining.
6. Install new windows:
They will make you go deeper into your wallet, but new windows could pay off when it’s time to sell your home. Energy efficient windows were ranked as extremely or very important to 56% of buyers, according to Zillow. They can help your home feel move-in ready or simply give your interior a better appearance. New windows will help you save on your utility bill and help make your home one of the best looking around.
If financing is needed, contact one of Cinfed’s financial professionals or visit a local branch to determine which loan option is best for you.