While we often think of a house as one of our biggest investments, the truth is most real estate and financial experts do not see it that way. Since the 2008 housing crash, many advisors see that as a “1990s mentality.” They advise that you look at your house as simply your home, a place you begin and end each day in and where your family makes its memories. Finding something simple that works with your family’s budget is a better way to approach house buying. By doing that, you can take any extra money you have and put it towards actual working investments.
But while you should not look at your house as an investment, that doesn’t mean you should let it grow in disarray without ever thinking of its resale value. Most people eventually end up selling their homes at some point for reasons such as a having to move for a job, downsizing when the kids move out, or any other of the myriad of big changes life throws our way. Because of this, you want to make sure to maintain your house’s function and appearance in case the day comes where you need to put it on the market.
Here are some of the most common home improvement projects homeowners should do to increase their house’s resale value.
Roof Maintenance and Repairs
The roof is the ultimate barrier between the weather and elements and your house. As hard as it works, it eventually starts to show wear and tear. Moisture leads to mold and algae that causes your roof to darken, makes it harder for your house to cool, and can even worsen allergies for your family. Rain, sleet, and snow damage shingles and can lead to leaks or worse.
The best way to prevent a roof catastrophe is through regular maintenance. To remove mold and algae, hire a professional cleaner who will gently power wash the debris away without damaging your roof. Additionally, throughout the year, check your roof for broken shingles and fix them as you go. This is especially important to do if your area experiences a harsh storm that results in hail or falling tree branches.
Older houses may eventually need a new roof altogether. If your home needs a roof replacement, look for a contractor who specializes in cool roofs that can lower your utility bills and make your home more comfortable in hot weather. Also be sure to look for contractors with good reputations. Unfortunately, roof repair scams are pretty common. Watch out for contractors who chase storms and show up at your door using high-pressure sales tactics. These people are more likely to display questionable, shady behaviors like asking for down payments before work even begins or changing up their prices in the middle of a project.
Energy Efficiency Increases Resale Value
It is not just cool roofs that can help your home’s resale value. Any time you update your home-- for instance, buying new appliances-- keep energy efficiency in mind. The more energy efficient your home is, the more modern and appealing it is to potential buyers. Your utility company probably offers free energy audits where they can point out ways to maximize your house’s efficiency for lower bills now and a better sale price later.
A Fresh Coat of Paint
If it is time to sell, you can add thousands of dollars to your property’s value with a project that costs pennies. A fresh coat of paint breathes new life into a home and makes it more appealing to potential buyers. Many real estate experts suggest painting in neutral tones, but analysis shows that redoing your bathroom and kitchen in a light blue can add up to $5,440 to your final selling price on average.
While you shouldn’t look at your home as an investment, you still need to protect its resale value in case the day comes when you need to put it on the market. The roof is the part of the house that is most likely to be damaged by outside forces. Regular maintenance can help keep its value while improving your home’s look and feel. When making updates, always keep energy efficiency in mind. An energy efficient house is a modern house. Finally, if it is time to put your house on the market, update it with a fresh coat of paint to make it more appealing to potential buyers.
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Call Lady of the Lake Realty at 1-888-737-5550, e-mail at firstname.lastname@example.org or visit our websites to view lake homes in New Hampshire at www.nhlakesrealty.com to begin your search
Contact Carl Sack or Paula Hinckley #nhlakesrealty
Article Credit: Seth Murphy