6 projects that will increase comfort, value of your home
Temperatures might be lower, but contractors’ schedules are lighter. And this season is perfect for making changes to your home that improve your comfort as well as your resale value. Here are six ways to bring more comfort to your home and give you better chances to sell during the homebuying — and selling — season.
Updating/replacing wood floors
Wood floors provide a timeless, classy look to any home. Plus, they’re built to last; a well-cared-for wood floor can be a part of your home for more than 100 years! These floors also collect less dust and debris than carpets. If you already have wood floors, having them refinished gives them that new boost and liveliness and will run you around $1,000-$2,500.
If you choose to have a professional install flooring for you, you should plan on investing about $6,000-$12,000 per 1,000 square feet.
Appliances
A relatively inexpensive upgrade would involve replacing your kitchen appliances. Not only will you enjoy the streamlined look of matching and more energy-efficient appliances, but you can also see a 3%-7% increase in home value. This upgrade usually costs roughly $3,000-$8,000, depending on how many pieces you replace, what brands you choose and whether you DIY or have them professionally installed.
HVAC system
If energy efficiency makes your home life
more comfortable (and puts more money in your pocket), consider upgrading your HVAC unit.
New requirements have emerged for air conditioners, so newer models are more efficient. You might also catch a tax break by updating your HVAC, but check with your state to see if you qualify. While you can install a water heater on your own, it’s best to hire a professional when working with a furnace or AC unit. While a new HVAC unit can run from $5,000 to $10,000, Money Magazine reports you can get a 5%-10% return on your home value.
Increasing accessibility
Increasing accessibility can improve your house value and comfort at once. The wider hallways (which allow wheelchair accessibility) appeal to buyers of many ages. And accessibility is about more than bars on the bathroom walls. It can also include walk-in tubs, showers without step-downs, walking rails in hallways, and lifts and elevators for two-story homes (or ranches with basements). The costs can run from
$800-$8,000 (and perhaps more for that elevator), but the return is worth it for this increasingly popular living concept.
Finished basements
Finishing your basement can give your home the extra space you need. You can add bedrooms or a playroom while increasing your home value. According to HGTV, you can get about a 70% return on investment for your basement remodeling costs. If you want to see this type of return, keep the cost of this remodel to 5%-10% of your house’s current value.
In-law suites
One great use for your basement is to create an in-law suite (or use/ build an outbuilding to provide this extra living space). This allows you to take care of aging family members, have additional storage space or generate more income through short- or long-term renting. These suites can be pricey, costing anywhere from $40,000-$75,000, but homes with these suites tend to list higher than homes in the same neighborhood.