Blog

What's Worth Spending Money on When You Own a Home

Image credit


When it comes to improving the value of your home, not all changes or upgrades will help you boost value. Sure, they might be beneficial and be great aesthetic upgrades, but they won't automatically add value as you might think.


But there are some upgrades you can carry out that will be beneficial, if you're looking to increase the value of your home, and ensure that it not only looks good, but is a great living environment and a building that holds or increases its value. Here are some ideas you can invest in for a great return.

A New Roof

Typically,  depending on the construction of the roof and your local environmental and weather conditions, roofing needs to be replaced at least every 15 years. Some last for longer, up to 50 years, but for the most part, roofing will need to be updated around the 15-year mark.


However, a full roofing replacement is expensive and can run you anywhere from $8,000 upwards, depending on the size of your home and the type of roof you replace your current one with.


It's safe to say that this isn't pocket change type money, and if you're going to be investing a significant amount of money, you want a good ROI. A new roof is not only attractive to potential buyers if your home goes on the market, but you can expect 60% to 85% ROI too.


Window Replacement

Windows are an important aspect of the building. They're not only ways to get sunlight into your home and give you exposure to the outdoors, but they're an integral security and insulation feature too.


Your windows need to be suitable for modern lifestyles, and old single-pane windows don't fit the bill at all.


If you're noticing issues such as condensation on panes indoors or between panes for double or triple-glazed windows, then you need to look at replacing your windows sooner or later. Because, not only are old, ineffective windows off-putting for buyers, but they also impact your quality of life and can be instrumental in increasing your energy bills to account for reduced energy efficiency.


Choosing suitable replacement windows means you can choose a style of window that works for the building, which is suitable for the environment you live in, and helps you boost the value of your property. Some reports suggest this figure could be 100% of your investment upon sale.

Insulation Upgrades

Over time, your insulation will degrade. And experts suggest that your insulation should be updated every 15 to 20 years. However, your installer will advise on when this should be. But a general rule of thumb is that if you've owned your home for longer than 10 years, and you've never upgraded insulation, it's likely time to do so.


Again, there are various types of installation you can use or upgrade to. And different choices come at different price points.


Loft installation is often the cheapest type of choice, and it can be fitted fairly quickly for an instant upgrade. Cavity wall insulation takes longer and is more expensive, and you may need to consult with a surveyor before commiting to this.


But not only do you benefit from significantly lower bills and increased energy efficiency within the home, but effective insulation can also deliver an ROI of over 100% in some cases (depending on the type and level of insulation and the extent of the insulation added to the property and this figure can include energy savings too, not just resale value)

A New Front Door

If your front doors are damaged, warped in the frame, or are no longer fit for purpose, not only do you decrease your home's security, curb appeal, and functionality, but also your home's value too.


A poor front door is a security issue and an energy problem, and it can seriously impact how you feel when you arrive home each day.


But a new front door is worth the investment for all of these points.


Modern composite doors, for example, are more thermally efficient than older timber or hollow core doors. They're harder to force open and require almost no maintenance either.


The upfront costs of a new front door are more modest than other options here and typically can run from around $1,00 to $3,500 on average, depending on the size of the door and construction.


But the visual impact this can have for buyers and the security it offers can be worth much more should you decide to sell the property.

KItchen Updates

Now, a full kitchen renovation can be tempting and, for the most part, extremely beneficial. But if you're planning to sell in the near future, smaller changes and upgrades have a greater ROI than a full refit. 


A full refit makes sense if you are planning on moving in the near future and you need to make your kitchen work for your life as it is now.


But targeted updating, if you are planning on selling, will be better for your bank balance and your home's value.


So what smaller changes are we talking about here?


  • New cabinet doors

  • New hardware

  • Replacement worktop

  • Updated appliances

  • Better lighting


All easy to change and cheaper than a full renovation. This is all dependant on the structure and plumbing being sound, making it a much better option if this home isn't your plan for the more immediate future.

Bathroom Renovation

Bathrooms, mlike kitchens, are the rooms that people notice the most. Buyers want to see well-appointed and designed bathrooms with modern features. It's not necessarily about aesthetics, it's about a bathroom that is fit for purpose.


So what do you need to do here? Replacing a worn suite is a great place to start, as is retiling, fitting a proper shower enclosure, if you have a space or rearranging the layout.


If you need to make more significant changes to the bathroom, i.e., one that is outdated in terms of functionality, then ripping it out and starting afresh can be beneficial here. Then you can include options such as a heated floor, improved ventilation, and better lighting.


Photo Gallery

Comments