Every homeowner looks around his property and dreams of projects, both big and small that could be undertaken to improve the property. But before you jump into an expensive remodel project, do yourself a favor and consider which renovations will provide the biggest return on investment. And always start with and some low-cost home upgrades to reduce energy and water costs. These kinds of projects will not only save you immediate dollars, but they will increase your home’s value for the next owner. Exterior renovations to increase curb appeal, energy-efficient upgrades, and smart home technology are always the best options in increasing your home’s value.”
Home renovations with the biggest returns
Home renovations are an excellent investment into the value of residential property but not all renovations will provide the best returns. With the cost-to-value ratio of home renovations growing smaller every year due largely to increasing labor and material costs, it is more important than ever for homeowners to choose their investments wisely.
What investments reap the best rewards? Exterior renovation projects have the biggest returns. Improvements to curb appeal are the most impactful to a home’s value. The first impression is the most important. Consider installing a manufactured stone veneer and an attractive new garage door for returns in excess of 90%.
Energy-efficient home upgrades
Energy-efficient upgrades will both increase the value of your home and save on heating and cooling costs, water, and electricity bills. They also have the benefit of being better for the environment by decreasing your home’s carbon footprint. Most of these improvements can be completed in a single weekend.
Energy-efficient upgrades do not have to be expensive to have a large impact on the bottom line. Consider installing low-flow fixtures in the kitchen and bathrooms to preserve water, available from most home improvement stores for as little as $20. A new water and energy-efficient dishwasher uses less water on average than washing dishes by hand; cleaning and repairing dishwashers that are only a few years old can also have an impact.
Replacing the insulation in especially an older home will reduce heating and cooling costs. While you are at it, installing or replacing weather stripping can also greatly reduce cost. Ceiling fans help reduce cooling costs by circulating cool air and reducing the work of an air conditioning unit. A good Connecticut electricity supplier will help homeowners determine the best energy options for their homes.
Benefits of smart home upgrades
Smart home upgrades are another way to increase your home’s value without large scale projects. Update your home’s thermostat to one that is programmable to control the temperature throughout the day. Install smart smoke and CO2 detectors that can be monitored from a smartphone to increase peace of mind.
There are a few simple ways to increase your home security, as well. Installing a video doorbell allows the homeowner to see any visitors before opening the door. Combine this with a smart lock that allows for better control over who enters your home and you create a much safer home environment. Installing either of these new fixtures is easy even for someone who isn’t an expert in technology.