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Five Home Improvements That Will Add the Most Value for the Lowest Cost

Posted on 14. Feb, 2014 by in Home Improvement

A home is an investment. To properly care for that investment and watch it grow, one cannot simply sit back and collect dividends as though the home were a bank. Fortunately, there are several ways in which homeowners can grow this investment. Here are a few home improvements that provide the best return today.

1. Convert Loft Space
The best way to increase your home’s value today is by creating usable loft space. Most homeowners will do well to hire professionals to assist in the conversion, but this improvement will increase your home’s value by an estimate 10 percent even in a shaky market. As an added bonus, you’ll have a cozy new guest room for visitors to use once the project is complete.

2. Reclaim Space Down Below
Increasing the usable living space in a home inevitably adds value. While expanding upward generally has the most significant returns, conversion of a cellar or basement into living space will also add value to a home. These areas make wonderful studies, additional bedrooms or common areas for a family to enjoy.

3. Redecorate

A little paint goes a long way. Update your home by redecorating in a modern but neutral pallet. If you’re planning to sell soon, you’ll want to me more conservative in your decoration as buyers may not share your love of bright colors or pretty pink bedroom walls. Similar rules apply to new carpeting. While replacing carpet can add significant value to a home, steer clear of colors that new owners may find difficult to reconcile with the furnishings they have.

4. Install Double-Glaze Windows
New windows can greatly improve the energy efficiency of your home. By installing new double-glaze windows, you will not only add value to your home but also save on energy bills in the winter. There is some debate as to its cost effectiveness, but triple glazing may also be an option should you live in a house that’s persistently cold.

5. Add a Parking Space

If you have room to add a parking space, this addition will greatly improve your home’s value. Be careful not to pave over so much space that you eliminate other elements of curb appeal such as a please front garden. If space and your budget allow, you can increase your home’s value even further by adding a garage.

6. Update the Kitchen

An outdated kitchen can greatly decrease the value of a home even when the rest of the dwelling is in tiptop condition. If a full kitchen remodel cannot be completed, you can add value to the home by replacing appliances with newer, more efficient models. Replacing hardware or installing new cabinetry also works to update a kitchen and add value to the entire home.

Even though there are signs of sustained recovery in the housing market, the future is still relatively uncertain. However, there are still plenty of options for homeowners seeking to maintain or increase the value of their homes. By carefully budgeting for home improvements, for example with the many calculators on CB Online, and by selecting improvements known to add the most value, you can successfully protect your investment and increase resale value.

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