Specific Home Improvement Projects That Can Increase the Home’s Equity Truth be told, not every home improvement project will increase the home’s value. Finding a home improvement project that will return the money on the investment can be a challenge. However, there are specific projects that the homeowner can perform on their own, that will gain equity in the value of the property.
Organize the Home
Eliminating clutter in the basement, in the attic, or any portion of the home is a simple way to maximize the home’s equity. This is because it can reduce storage problems, and the harboring of insects. Consider purchasing organizing supplies including shelving, and plastic storage boxes to keep everything well-organized and up off the ground.
Replace the Light Bulbs
While replacing light bulbs might not seem to be a great investment, it offers a phenomenal way to pay for itself and then some. Any burned out bulb can be replaced with an energy-efficient light bulb, which produces the same amount of light at much less cost. In addition, make sure that all skylights in the home are operating properly, and effectively. Remove any debris that is built up on the roof that might be blocking sunlight, to enhance the amount of direct light that enters the home for free.
Maintain the Plumbing
A leaky pipe or faucet can waste a tremendous amount of money every year. While it might not seem that a simple leak that drips one time each second amounts to much, it can waste thousands of gallons of water every year. In addition, if the leaky side of the faucet is on the hot side, it is taking energy to heat the water that is dripping from the faucet or pipe. Consider fixing the plumbing leak yourself, or hiring a licensed professional to tackle the job.
Paint the Home
Painting either the interior or exterior of the home can add significant equity to its value. Painting the exterior of the home helps protect it against the harsh environments, which can make the siding and wood trim last far longer. Likewise, painting the interior of the home minimizes airborne allergens that have attached themselves to flat services, while adding a decorative appearance to the interior of the home.
Install New Flooring
Many homeowners consider the addition of new flooring to be a major home improvement project. While it is true that it is expensive, a new floor can add significant equity to the value of the house. Consider choosing a high quality flooring material including laminate, solid wood, and even tile. Having a professionally installed, or installed by a competent, educated do-it-yourself homeowner can quickly add value to the home. Choose a material that holds up well over time, especially if you plan on living in the home for decades. This will minimize the need to have additional flooring laid down in the decades to come.
These are the top home improvement projects that are known to increase the home’s equity. Many of them can be performed by the homeowner, at an affordable price.