Better Home and Gardens just released the results of a national survey asking two distinct sets of homeowners what they want to change in their home for 2018. Money you spend on your home breaks down into two categories, taxwise: the cost of improvements versus the cost of repairs. And they’re keenly aware that even projects with the highest resale return don’t necessarily pay for themselves. To see what you can expect to recoup, visit Remodeling Online’s Cost vs. Value Report Then ask yourself how important it is to recoup your costs. After all, part of the idea is to enjoy the house while you live there.
The more money we save on one home improvement project, the more we have left for all the other ones we want to do. In addition to knowing the remodeling projects that offer the most bang for your buck , know which elements of a project you can splurge or skimp on ‘â€spend more on items that are hard to replace, such as the bathtub, but skimp on the faucet, for example, or spend more on a professional range if you’re a gourmet cook and save on the decorative tiles and flooring that look like premium materials.
Whether hosting a game night, book club or wine tasting, an unused space can become party central. Turn your basement or a spare living room into a finished space with a big screen TV, bar, and lounge area,â€ suggests Mary Ann Graboyes , real estate agent, Weichert RealtorsÂ® in Blue Bell, Pennsylvania. Whether it’s kid-friendly or a space for adults, this home improvement will be utilized a lot and add value to your home nowâ€”and down the line when you’re ready to sell.
It’s important to tell your home insurer about any renovations to ensure the additional value of your property and contents are covered by your policy. As a rule, improvements that increase the functional space of a home hold their value longer than ones that just make a house look better. This option is also often significantly cheaper and less of a hassle than adding a completely new room to your home.
Make achieving thermal comfort with the lowest ongoing operating cost central to your decision making at every stage. Passive heating and cooling is free to operate but upgrading a home to achieve better thermal comfort (more stars under the Nationwide House Energy Rating Scheme (NatHERS)) does cost money but rewards with lower energy bills â€” particularly in climates with high auxiliary heating or cooling needs (see Design for climate).