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Erik Larson writes about the job market, resume improvement, and career advice

Home Upgrades That Pay Off

Written by Erik Larson, Community Blogger | Jul 10, 2017 4:16 PM

There are several ways to increase the value of your property and allow it to have more appeal. The type of features that are available can create a comfortable setting where you can feel more at home. There are a few different home upgrades that are worth the investment and will pay off.

Minor Kitchen Remodel

The kitchen has a significant influence on the value of the home due to the amount of time that residents spend in the room. A minor kitchen remodel has an average return of 98.5 percent at resale with a cosmetic update that will update the setting. The remodel can include re-facing the cabinets, installing new hardware, adding new flooring materials, and installing a new oven, which will cost under $15,000. Homes that are worth more than $500,000 should have trendy glass or stone countertops installed. It's also necessary to install new drapes on the windows and add new molding.

Attic Bedroom Conversion

Attic bedroom conversions increase the square footage that is available in residential buildings and can allow your home to stand out on the market. It costs an average of $39,000 in a two or three-bedroom home but allows you to recoup $36,649 at resale. Converting the attic will require installing a closet, adding insulation, and using a solar-powered fan to reduce your cooling costs in the warmer months of the year. You'll also want to finish the walls and add wood floors or carpet to create a cozy space that is an extension of the rest of the home.

New Fireplace

A new fireplace will not only add extra visual appeal to a living room or bedroom but will also make for an easy way of keeping the interior of your home warm during the fall or winter seasons. A wall mounted fireplace has a high level of design and will look elegant when you want the inside of your home to look regal. Several different color shades and styles are available to ensure that you can choose a product that complements the surrounding architecture of the home. Electric wall fireplaces are easy to set up and look similar to traditional fireplaces. Ethanol wall fireplaces are another consideration if you have a modern or contemporary home due to the sleek style of the product. The different models that are available don't require a lot of maintenance and offer the same amount of heat as traditional fireplaces.

Deck Addition

Deck additions are classic and continue to remain a popular feature on residential properties. The product will enhance the look of your backyard and will also offer a place to entertain your family and guests throughout the year. You can add decorative appeal with a few potted plants and cozy patio furniture, which will make it easy to dine on the deck or relax with a book. Most decks cost an average of $11,000 to install when they're built with pressure-treated wood and they even have a recoup rate of 90 percent. The porch railings should also be safe and attractive to ensure that you recoup more money once it's time to sell the home.

Replacing Windows

Your windows influence the appeal of your exterior setting and also influence the amount of energy that is used in each season. Installing energy-efficient windows eliminate drafts and have an average return of 81 percent if you install a product with insulated vinyl or aluminum-clad materials.

Siding Replacement

Siding replacement is also a popular renovation trend when you want your home to appear new and make it stand out in the neighborhood. Siding replacement has an average price tag of $14,000 and will allow you to recoup 74 percent of the costs once the home sells. Choose fiber-cement siding if you want to recoup more money because the material won't crack or warp easily when exposed to different environmental elements.

Upgrading different parts of your interior and exterior setting will increase the value of your property and can allow you to recoup most of the investment that you make. With the right upgrades made, you can enjoy a higher quality setting until it's time to sell the property.

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