Investing money into your home is a very important financial decision. While some home investments boost the property’s value, there are others that have virtually no impact at all. A wise investment should also enhance the usefulness and comfort level of the home. Here are five investments that every homeowner should make when looking for high returns in the resale value.
An outdoor deck is one of the top upgrades for any home. The deck effectively increases the living space of the home for a much cheaper cost than adding an extra room. A 300 square-foot deck has the potential to add about $9,000 to the value of a home. The versatility of deck definitely pays off when hosting parties and family gatherings. It will make the house look far better on paper as well as in person. For many people and deck can big a major bonus and selling point.
2. A new roof
A roof is arguably the number one home investment that adds tremendous value to a home. A high-quality roof will last for decades to come, so the homeowner will not have to worry about replacing it anytime soon. Not only will the roof improve the aesthetic appeal of the property, but it will also dramatically increase the energy-efficiency of the home. Many home owners will make sure this has been a recent update when buying older homes. It is an investment they don’t want to make themselves.
3. Home security system
A home invasion can cause a lot of pain and agony for families. Installing home security cameras and systems will instantly upgrade the property’s level of protection. High-tech security systems such as Vivint home automation actually enable the homeowner to control multiple devices within the home from a computer or Smartphone. This means that the homeowner can check on their home 24-hours-a-day, even when on vacation. It gives an added level of protection and control to the home owner.
4. Fiber cement siding
Fiber cement siding is an investment that increases the durability of the home’s exterior. Unlike wooden or vinyl siding, fiber cement is composed of natural elements such as cement and sand that are incredibly weather-resistant. Although fiber cement siding can resemble the appearance of wood, it will not decay or rot over time. The material is available in a multitude of colors and styles, so the homeowner can choose their preferred design.
5. Energy-efficient windows
Old, inefficient windows can destroy the overall value of a home. Energy-efficient windows are a great investment because they decrease the energy demands of the home. Furthermore, energy-efficient windows provide the interior and exterior of the home with a refreshed appearance. Most are available with extended warranties, so the investment is well worth the cost. And most home owners and buyers are looking for energy efficiency. By offering a home that is up to date in all these areas, you will see that you are meeting the criteria of those in the market.
While an investment such as a swimming pool may seem tempting, it is usually a huge risk. Fortunately, the previously mentioned investments are proven winners.