On September 26, I wrote an article titled, Five Exterior Home Improvement Projects You Can Tackle This Fall, in which I suggested cleaning your gutters, installing a drainage system, building a patio, staining your deck and inspecting your roof, windows and furnace.
Besides the patio, these are all considered maintenance projects. Maintenance projects need to be completed semi-regularly to maintain your home’s current condition.
Home improvements, however, involve adding on, remodeling, or upgrading certain areas of your home.
Whenever you are making home improvements, there are two major things to consider.
First, how much enjoyment will you get from the end result of your home improvement project? Whether you do it yourself or hire a contractor, will your home’s improvement enhance your enjoyment of home and make you want to spend more there?
Secondly, what is your future return on investment? This can depend on whether you are making short term improvements for a resale in the near future or if you plan to stay in your current home for a while.
If you’re going to tackle a home improvement project, which one should you do? Again, it depends. Are you doing it for yourself or to increase your home’s saleability, that is, it’s ability to be sold?
Here are a handful of popular home improvement projects to consider.
Refinish old hardwoods or install new flooring. Depending on their condition, if you have beautiful original hardwood floors, you may not want to replace them, but refinishing and polishing them can have a huge impact on appearance.
However, if your floors are in rough shape, or if you have carpet or laminate flooring, I recommend taking a look at luxury vinyl plank, or LVP. It can have a similar appearance to wood and be much more durable and scratch resistant.
Despite the popularity of hardwoods and LVP, carpet remains a great product that is available in a multitude of colors, textures, and quality. If you enjoy stepping onto padded carpet when you step out of bed, why would you install hardwood floors?
Replace aging systems. Was your home built in the 1990s or early 2000s, or possibly even before then? If you didn’t replace your roof after the infamous 2011 hail storm, it could be nearing the end of its useful life. Getting a roof inspection can help you decide whether your roof needs routine maintenance or whether it needs significant repair or replacement.
When regularly serviced and properly maintained, heating and cooling systems can actually last quite a long time, even if older models aren’t as efficient as today’s. If HVAC units or furnace are over 10 years old, potential buyers may see them as red flags when you decide to sell your house even if they are in perfect working condition.
While I don’t necessarily advise replacing your heating and cooling systems unless there’s a specific reason for doing so, i.e., more efficiency, cleaner air, or they don’t work, be ready to purchase a one- or two-year home warranty that covers the cost of replacing a broken HVAC for your home’s next owner when it’s time to move.
Thinking of selling your house? For the simplest real estate experience, contact local real estate agent, Jimmy Grappone with Costello Real Estate & Investments to guide you patiently and expertly throughout the entire process.