Thinking of renovating this year? Consider the following projects that may actually net you some cash in the bank. Home improvements have been put on hold lately due to budget crunch but remember some improvements may increase your home’s value and before you make any repairs to the ‘money pit’ consider how they will improve the quality of your home.
Improvements to Increase the Resale Value of Your Home
If you want to sell your home any improvements that enhance the ‘curb appeal’ of your house is a good bet. Yard maintenance, cleaning up trash, new porch and railing all add ambience that new buyers are looking for.
The best and simplest improvement is to maintain and improve the lighting. Dim, dirty poor quality lights do not show your house well. This is for inside and outside lighting. If you want to be environmentally friendly then switch to ENERGY STAR compact fluorescent bulbs. They also use less energy and in the long run save you money ($70 per year) on your electric bill.
Kitchen and bath remodeling has a very good return for your investment on a resale house according to experts. Updating with new countertops, energy efficient appliances, and cabinets are wonderful and improve the quality of the home.
Replacing an old, inefficient toilet can help trim your water bill if you replace it with a WaterSense model.
Improvements to Increase the Efficiency of Your Home
Providing adequate insulation in your home is a great improvement to save money on your heating and cooling bills. An older home, if not already upgraded, can have insufficient insulation.
Replacing old windows with ENERGY STAR quality new windows can offer annual savings of $460 according to the EPA. You will notice that your air conditioner, in the summer, and furnace, in the winter, will not have to work as hard.
Install a programmable thermostat as a simple home improvement to help save money on your electrical bill. A $30 automatic timer or temperature driven thermostat will regulate the temperature while you are away from your home or while you are sleeping. This will help you save money by reducing the amount of time your furnace or air is operating.
Insulating and sealing cracks will improve the energy efficiency of your home. Adding insulation to the attic and applying expandable foam insulation around pipes, wires and cracks will prevent air loss which translates into saving money in the long run.