Your home is your castle, and it’s also one of the biggest investments you’ll make if you own one. The last thing you want to do is purposely ruin your investment, and have your property will not be worth what you paid for it, leaving you with negative equity.
Over time, you need to make changes and improvements to help you protect your investment and make your home a place you enjoy living in and want to spend time in.
However, from a financial standpoint, making improvements that can boost the value of your home will pay off in the long run, and these suggestions are some ways you can do just that.
Solar Panels
Admiral Money found that solar panels can add up to 25% to the value of your home. That being said, it can take around 12 to 26 years before you start seeing any payback on your investment in solar panels. If you’re looking to make your home more sustainable, increase its eco credentials, and ensure you can boost its value when you do come to sell, solar panels from reputable companies such as All Seasons Energy can be a great investment.
New Kitchen
The kitchen is the go-to room in any home, and all experts tell you it will be an excellent return on your investment. A recent report from 2023 stated that homeowners can expect anywhere from a 30.7% to 85.7% return on investment after installing a new kitchen. Many factors, including the quality of the finish, will influence the exact amount, such as the kitchen’s functionality, the features, the size and aspects of the remodel, and the top ceiling value in your local area for homes like yours. However, if you really want your money to work hard for you, then a kitchen remodel is definitely something you should invest in.
Landscaping
Since 2020, there has been a resurgence of homeowners looking to improve their home’s landscaping and turning their outdoor spaces into extensions of their homes to increase usable living space. This has resulted in some truly outstanding garden spaces. What this means for sellers is that buyers not only want landscaping to be completed but, in many cases, they expect it and are willing to pay more money for homes with well-thought-out and executed landscaping. Smart landscaping designs can yield anywhere from 200 to 400% ROI through more conservative estimates for modest landscaping work, which come in at around 20 to 30%.
Extensions
These days, more people want to extend their homes rather than move, and for most, this makes total sense. If you plan on remaining in your home, increasing livable square footage is a must to help your home accommodate you and your current lifestyle. However, if you’re debating putting the property on the market, adding a well-designed and appointed extension can help you boost the price, and sellers are seemingly appreciative of this fact, too. A house extension will almost always add value, which can increase the value by as much as 12% in some cases. This is a considerable amount and can be a massive selling point for you, too, especially if you use the extension as the main focal point of the house.