With so much emphasis on buying and selling homes the truth is that for most of your life as a real estate consumer, you will be a homeowner. That being said your home is so much more than a transaction, so spending some time, money, and energy on improvements makes sense.
Many homeowners wait until they save up tens or hundreds of thousands of dollars in equity to make a major change to their home. If you’re planning to stay put in your home for a while, home improvement projects will drive even more return on investment, but you don’t have to save as much as you think.
Curb Appeal
Enhancing curb appeal is one of the most cost-effective home improvement projects. There is just something about loving the way your home looks when you drive up to it day after day that dramatically increases your enjoyment of the home.
Depending on which projects you choose and whether you do the work yourself, you can enhance your curb appeal for a few hundred dollars or a few thousand. Some curb appeal ideas to consider include painting or power wash your home’s exterior, painting or installing a new garage door, front door or exterior trim work, exterior or landscape lighting, or a simple front yard landscaping spruce-up.
Tear Down A Wall
Removing walls, even structural walls is highly feasible and much less expensive than many homeowners assume. If a load bearing wall is removed, the structural component can often be preserved and finished by simply leaving a beam at the ceiling. What can jack up the price is the relocation of plumbing or wiring contained in the wall being removed. Reconnecting interruptions in flooring and adding features like an island also increase expenses.
New Windows
Replacing old, single-paned windows for new dual-paned windows might make your home look better, but it will also make your home operate more efficiently. They are also a must if you have street noise challenges around your home, the extra insulation traps noise before it can get to you.
Outdoor Kitchen
The average cost of an outdoor kitchen is around $12,000- $15,000. However, if you can find appliances on sale or do some work yourself you could get that backyard escape for $10,000. Outdoor kitchens can be as simple as a table and grill, or as complex as wood-burning ovens, refrigerators, and big-screen TVs.
Kitchen Appliances
In terms of functionality, new kitchen appliances can create n upgrade to your family’s everyday life. A new fridge will run you anywhere from $350 to $2,000 on average, a new stove/oven range can run anywhere from $300 to $6,000, and a dishwasher will cost around $250 to $1,600.
New Carpet
If you have $10,000 to spend and you can stand your carpet, you can estimate it’ll run you about $300 to $500 per room to replace it with new carpet. For hardwood it would be around $1,500 to $2,000 per room, depending on where you live, the size of the room, and what materials you choose.
Organizing Systems
One of the most significant advantages to owning your home is that you can customize it to manage your stuff and your activities, rather than being forced to fit your things into someone else’s system. If you have $10K in hand to make your home more “you,” consider having custom organizing systems built into your closet, office, pantry, or garage, tailored to your family’s stuff and needs.