Whether you are planning to stay in your home for several years, or if you are selling in the near future, it is important to spend your money on home improvement projects that will bring you the best return on your investment (ROI). That said, here are five home improvements projects to consider for this year:
Upgrade the Kitchen: One of the smartest rooms to invest in is your kitchen. While new appliances and updated cupboards and counter tops improve the value of your kitchen, do not forget about a smart, well-designed workspace. If you are renovating the kitchen, be sure to invest in a professional layout and efficient design. According to Realtor.com, a minor kitchen remodel averages over 80 percent on your ROI, and a major kitchen remodel averages over 65 percent.
Spruce Up the Bathrooms: Just a few improvements to a bathroom can go a long way. For example, install new fixtures, replace the mirror, and add a fresh coat of paint. Top off the new look with decorative plush towels and accessories.
Enhance Your Curb Appeal: There are several things you can do to enhance your curb appeal — add potted plants, put in a new walkway, paint and fix shutters, and repair cracks in the driveway. Additionally, replacing your front door with an updated, more attractive style is always a great idea. It can help with energy costs, and also keep your home more secure. Plus, front door replacements consistently have a high return on investment.
Replace Outdated Plumbing: Believe or not, an appraiser takes plumbing into consideration when assigning value to a home. So, if you have old, rusty iron pipes, you may want to consider updating the plumbing. Nowadays, re-piping is usually done with plastic tubing, which is extremely reliable and can be replaced more efficiently and easier than in years past.
Add More Attic Insulation: While it might not be the most glamorous project, adding fiberglass attic insulation actually pays for itself and delivers a small profit whenever you decide to sell. Often times, adding more insulation scores the highest return on investment of all home improvements.
Keep in mind that many home improvements fall under the “Do it Yourself” category, but some do not! So, consider hiring a professional if a task is out of your scope of expertise, especially for more complicated and dangerous projects.
For more homeowner information or to find a licensed real estate professional, contact the Sierra Nevada Association of Realtors at 775-885-7200 or www.snar.org. The Sierra Nevada Association of Realtors is the voice of real estate in Carson City and the surrounding areas. They are committed to building better communities throughout the region, and participating in the political process to protect the industry as well as private property rights.
Sandee Smith is president of the Sierra Nevada Association of Realtors and a realtor with Charles Kitchen Realty in Carson City. She has been active in the real estate industry for over 25 years in the areas of sales, lending and home staging. Sandee values education and knowledge and has earned the following designations: Certified Residential Specialist, Seniors Real Estate Specialist, Accredited Buyer’s Representative, and Certified Negotiating Expert. She welcomes your real estate questions and can be reached at 775-250-6672 or RealtorSandee@yahoo.com.
