Here are seven affordable home improvement projects that’ll help you enjoy your home more today and provide excellent financial return in the future. This is a summarized version of an article you can find here.
7 Financially Savvy Home Upgrades
- Add the Finishing Touch of Molding: Buyers consistently rank both crown molding and chair railing in their list of most desirable decorative features they seek in a home (#3 and #7 respectively), according to the annual National Association of Home Builders (NAHB) survey, “What Home Buyers Really Want.”
- Install Ceiling Fans: If your ceiling fans are old and outdated, new ones (coupled with a fresh paint job and crown molding) could give your rooms a refreshing update while saving money.
- Plant Trees: Trees are moneymakers that get better with age. A mature tree could be worth between $1,000 to $10,000, says the Council of Tree and Landscape Appraisers. A 16-inch silver maple could be worth $2,562, according to a formula worked out by the Purdue University Cooperative Extension Service.
- Build a Patio: A patio practically pays for itself, costing about $6,400 with a 102% return when you sell. Keep it simple and functional.
- Energy-Efficient Upgrades: NAHB’s report that surveyed homebuyers across the nation: Nine out of 10 potential buyers would select an efficient home with lower utility bills over a less efficient home priced 2% to 3% less.
- Add Creative Storage: We don’t have to sell you on the value of storage and built-in organization. Adding storage is a no-brainer, but it does take a little brainpower to find your home’s hidden storage possibilities.
- Outdoor Lighting: Exterior lighting makes your home shine in the evening, accents features you like most about your house, and helps keep burglars away. 90% of buyers say outdoor lighting is on their list of desired home features.
Enjoy your home more today — and sell it for the best price tomorrow!