Investing In Your Home: The Rising Cost of Remodeling

Many homeowners don’t realize it, but money spent on home repairs and upgrades is an investment, and you can choose to invest your money in a way that gets returns, or a way that costs you in the long run.

Choosing your upgrades carefully can help you see the most value for your money, and can boost the value of your home. Cosmetic updates can be an important part of these upgrades, but it’s important to also ensure that all basic systems in your home are working.

Buyers are looking for a home that they can take for granted. This means that the HVAC system is in good working order, the windows and doors have been upgraded for well-insulated models that cut energy costs, the roof is solid and without leaks, the foundation is solid, and the plumbing throughout the house is leak-free and in good repair. Handling these remodeling costs now could help you in the future if you plan to sell.

Investing in a new HVAC system and regularly maintaining it can help you see a return later. Preventing costly water damage repairs is also important, so you should have your roof inspected and repaired. Your pipes can also cause damage if they’re in poor repair. Your plumber can perform an inspection and detect any leaks or potential issues that should be addressed to protect your home’s value.

You shouldn’t discount cosmetic upgrades either. Both the kitchen and bathrooms are good choices to update since they can often attract a buyer.

New home builders often splurge on these important spaces, and you can as well. These are both high-traffic areas of the home, and both are easy to remodel. Upgraded tile, cabinetry, and fixtures can greatly boost the appeal and value of your home. These areas are the most expensive areas of the home to build, but updating these rooms can often net you a return of 100% of your initial investment, or possibly even more.