Have you thought about how to invest in your home? Your home is likely the most expensive asset you will own. Whether you are a first-time buyer wanting a fixer-upper to turn into the dream home, or you are ready to put down roots and find your forever home, you can grow old in. There is no bigger purchase you will make than in the bricks and mortar that have been built to create your home.
If you are looking for ways to invest your money, have you considered investing in your home? There are worse options for you to invest in than your own property. At the same time, it can be tempting to put that money into a high yield account or stocks and shares to grow your retirement fund. Regardless of when or if you want to sell it, your home should be one of the first places you look at when it comes to investments and making good the asset you already have.
Which areas of your home can you put your money to good use as a solid investment?
Invest in Windows and Doors
Jobs such as replacing windows and doors instead of remodeling will typically get a return of 72% on your investment. Updating and replacing old and worn features on your home to incorporate more modern and energy-efficient replacements can be one of the best ways to invest in your home. As new products hit the market, older times can become obsolete quickly, basically if it has been a long time since you updated anything. For example, choosing replacement windows from fortworthwindowsdoors.com that help to preserve heat and minimize loss and new front doors can help you feel like you have a new home and reduce your energy bills.
Increasing Square Footage
You have a few different options when it comes to how you increase the size of your home. But if you plan on staying in your house for a long time or need to accommodate a growing family, then maximizing the space you have by adding to it can be a great investment opportunity.
If you have a basement, invest in finishing it off to a high standard to compliment the rest of your home can increase value should you decide to sell, especially if the space has its own entrance. Fully completed basements can be ideal self-contained rooms for elderly parents, teenagers or guest rooms for family and friends. Depending on the size, you have eating, sleeping, and showering space to avoid crossover in the main house.
Alternatively, you can choose to develop upwards and use the space in your loft to add another room with an ensuite. Use this space for a master bedroom, child playroom for a spare guest room, office, or even a home gym. Whatever you see it for, putting your money into this can help you add value and invest in your home, seeing the returns when you come to sell.
The finish and design of a new kitchen can really run into the thousands depending on what you need even more if you decide to build it into an extension to increase the size of your kitchen. However, suppose you are looking to put the property on the market close to the completion of a new kitchen. In that case, it is wise to keep an eye on how much you are spending as it doesn’t add value in all cases, especially if your home is at the top end of its value already.
That being said, if this is a forever investment, then paying out more for a better quality finish and layout that works for your family will add value in the long term. Still, immediately it will offer you a better way of living and quality of the home by installing a more modern and efficient kitchen. In addition, if you are considering adding an extension, choosing an open plan kitchen-diner will automatically be more attractive to potential buyers as well, making the space flow into your outside space to increase the size of your home even more.
This is where an investment of sweat equity will pay dividends when it comes to cost-effective improvements to increase the value and look of your home. By getting stuck in and redesigning as much of your outside space yourself as possible, not only will you be saving money you can put towards other things, but you can really see the fruits of your labor once all the work is complete.
Depending on the size of the space and the work you put in, a well-landscaped outdoor space can increase the value of our home by 10%, which is a great ROI, especially if you have done much of the work yourself.
Investing in a new modern bathroom is never going to be a waste of money. Aside from the kitchen, your bathroom is one of the most used rooms in the house. Choosing a sleek modern design, with smart features if you can stretch to this expensive that is purpose-built and well designed with a bath or shower, both if possible. A clean white bathroom suite, new flooring, and added extras such as underfloor heating or a heated towel rail can really push up the value of your home and give you a nice space that is ideal for relaxing in. Invest in your bathroom and love the return you’ll receive!
While the jury is out on exactly how much benefit smart features can be to the overall value of your home, this is still a great area to invest in when looking at investing in and updating your home. Buyers are attracted to the potential homes that feature smart controls and appliances. While it may feel futuristic and high-tech, there are many benefits to incorporating this into your home if you can.
The beauty of this is that you can install a central system and add to it over the years. Fully smart homes feature full voice control for all aspects, including lighting, security, thermostat control, and much more. If this is your thing, you can invest in both your benefit and for your future resale value too.
Where is the first place you would invest in for your home?