When it comes to home improvement, some dollars stretch more than others. And if you’re on a limited budget, it becomes even more important to spend those dollars wisely.
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- Install Ceiling Fans: If your ceiling fans are old and outdated, new ones (coupled with a fresh paint job and crown molding) could give your rooms a refreshing update while saving money.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!
