In times of worry and trouble, there’s really quite no place like home. Even in times of economic turmoil, one’s home wasn’t just a sanctuary, it was also the last defense—the final option to stave off financial problems, or worse, bankruptcy.
One such way of getting more out of your home is through home improvement projects and renovations. Even after the global economic slowdown in 2008, several homeowners across North America managed to recoup up to 90 percent of the money spent on home improvements.
The key to successfully adding value to your home is to know what kind of upgrades to make. If you have a roof that needs repair, you can’t expect a return from it—people expect the roof of a house to be in good condition. Likewise, you can’t drive up the price tag of your home with new plumbing—people expect that.
Here are some tips on how to get the most of out your money when renovating your improving your home.
1. Front Yard
Keeping your front yard is one of the easiest and most cost-effective ways to increase your home’s appeal. For starters, it shows people you care about your home’s appearance and makes it stand out. And again, landscaping doesn’t have to be expensive—you often get more out of your investment.
2. Heating, Ventilation, and Air Conditioning
Although not exactly the most popular choice of home improvement project, working on your HVAC is an investment that can lead to significant gains over the long run. With governments offering rebates and energy savings now seen as a priority, new homeowners tend to favor homes with new furnaces and HVAC units.
Fixing your insulation, particularly in the attic, is a common sense home improvement that not only helps save money, but also makes it more attractive to future buyers. A poorly insulated house typically loses at least 30 percent of the heat generated by your surface—insulating means keeping more warm air in and using less energy to keep it that way.