Home updates often feel like too big and expensive an investment to truly be worth doing. Between having to schedule repairs and deal with construction in the home, there’s the prohibitive cost of it. This can lead to people avoiding updating their home for a shockingly long time; a survey by HomeGoods found that 9% of Americans haven’t updated their home decor in more than 10 years, and almost half haven’t in the last five years.
However, even if certain home improvements are a bit expensive, they can actually end up being worth more money than they cost. If you want to give your home an update that could end up returning more money than you spend on the project, try one of these for your next major home project.
Update Your Exterior
The exterior for your home can be easy to overlook when it comes to making home improvements, but updating the different parts of your home’s exterior can improve curb appeal and boost your home’s overall value. This makes every cent spent on exterior improvements well worth the cost.
Your roof could be one easily-missed place to add value to your home. If it’s been a few years since you’ve replaced your roof, you might want to consider new shingles. A new asphalt shingle roof has an ROI of about 62%. Similarly, if you have a garage, consider replacing the garage door. This one home improvement project that often goes overlooked could potentially have an ROI of as much as 98%.
Major Rehauls For Major Value
Home renovation isn’t for everyone, but if you’re willing to deal with a bit of construction, the benefits could be massive. Adding square footage can dramatically improve the value of your home, particularly if you convert unused space to an extra bedroom or bathroom.
If you’re not looking to add a bedroom or bathroom, consider converting unused space to additional storage space. Every year, the revenue created by self-storage in the United States is $36 billion; clearly, people need plenty of storage space, and if your home has extra room for storing items, you’ll catch the attention of potential buyers for sure.
Small Interior Adjustments Worth The Effort
Even smaller projects can dramatically improve the value of your home. A project as simple as just updating the paint can be helpful; while determining an exact ROI on this is difficult due to widely varying tastes between home-buyers, it’s safe to say that most people these days prefer lighter colors and well-lit spaces. Repainting your walls can help bring more light into a space, making it look clean, fresh, and modern.
If you’re looking to improve your home’s overall value, consider one of these updates that are easily worth the time and money. A few simple updates to your home can make a huge difference in what your home is worth, and you’re likely to see a high ROI on these projects.