When it comes to making changes and improvements to your home, you may be under the false impression that anything you add to the home will increase its value and give you a good return on your investment. This is a dangerous thought process and could lead you down the path of making a lot of changes within your home that will lead to only marginal, if any, returns down the line. Instead, you should be sure that the improvements you are making to you home satisfy your needs while you are still living there. However, you should also have a good return, like you will get with certain additions including kitchen or bath remodels or the addition of aesthetic touches like spiral staircases.
Spending Your Hard Earn Money for Nothing
Why do we make improvements to our home in the first place? First and foremost, it is because there is something about your home that you feel is lacking and you want to change it up to better your life as you are living in the house now. Then there is the future. You need to think about the potential that you may want to one-day sell the home you are living in. Even if you have lived there for a short amount of time, and do not have to take into account a major change in the housing market, you want to at least make back the money you spent, if not make a profit. TLC’s How Stuff Works explains that not all home improvements are created equal and that while all of them cost money, not all of them will raise the selling price of your home later.
TLC explained that one of the biggest considerations when making improvements with return on investment in mind is aesthetic. People like things that look good, and a great aesthetic appeal always sells. They explained that something as simple as updating the lighting in the home can make a major impact on aesthetics.
The Big Guns of Remodeling
Of course, the biggest crowd pleasers of home improvements are always kitchen remodels, bathroom remodels, and unique aesthetic pieces, according to the National Association of Realtors. If you have the money to completely update your kitchen or bathroom, by all means do so and you can rest assured that this will significantly impact the value of your home, especially if these rooms were outdated. If you do not have an unlimited budget, you wouldn’t even believe how affordable spiral staircase prices are. Pieces like spiral staircases can become a major feature of a room and give the right balance of aesthetic appeal and uniqueness that will set your home apart from a sea of homes with granite countertops and stainless steel appliances—that little something special.
Always keep in mind the future when making changes to your home. Even if you are not planning on going anywhere right now, you will be happy you did so come the day you do attempt to sell your home.
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