A Trio of Renovation Ideas to Add Value to Your Home
If you’re partial to the DIY lifestyle and looking to get the most out of your existing assets, your home is a great place to find untapped value to support a higher asking-price when it comes time to sell.
While there are a multitude of ways to put your money to work, each of them accretive in their own way, home repair offers you the best bang for your buck. This is because your investment will tend to be small compared to the headaches you will save yourself and your potential buyers from. Let’s learn more by looking at the following three examples:
Optimize Your Furnace Filter
Your furnace filter has a MERV rating that determines the size of the particles it’s able to catch. If it’s too low, there’s a greater chance of particles building up in your vent system, which can lead to pooling water where mold and bacteria can breed and spread.
If the MERV rating is too high, it’s likely to restrict airflow and clog your furnace, which may cause it to break down, but will at the very least worsen your indoor air quality.
The cost of replacing a furnace can reach up to $5000 and the risk is sure to turn off any potential buyers when you put your property up for sale. It may also catch you off guard without sufficient savings to cover the expense, obliging you to seek out a responsible payday lender to bridge the gap.
While emergencies will always happen, having to scramble to keep your family warm should not be one of them. Replace your furnace filter twice a year for less than $100 and you’ll never have to worry.
Replace Old Plumbing
If your house’s pipes are made of iron, they’re at risk of rusting and increasing your water bill due to intermittent leaks. If they’re made of lead, it’s a much more serious matter, as the metal can leech into your drinking water and give you lead poisoning, a terrible condition that can cause loss of appetite, severe nausea and abdominal pain, as well as learning difficulties in young children.
There are also the sky-high costs of emergency repairs, which carry a hefty premium for work outside of normal working hours. If a buyer knows that they can save themselves this hassle, they’re going to be more confident in your property and are more likely to put in an attractive offer.
The best option to go with is carbon steel pipes because they can last forever if you care for them properly. This really comes down to not introducing foreign substances into your pipes; a small effort to guarantee that your family has access to clean water whenever they need it.
Finish Your Basement
Finishing your basement means having extra livable space that can accommodate more family members or be rented out for an extra source of income. Either way, it’ll make your home more appealing to a greater number of people and allow you to command a higher price.
The work involved will vary depending on your particular basement, but can include:
- Electrical work
- Laying carpet or tile
- Applying insulation and drywall
- Applying a fresh coat of paint
- Installing doors for privacy
Getting your hands dirty and renovating your home is a proven way to give it longevity and increase its long-term value without breaking the bank. Bust out those tools and give what is perhaps your most expensive asset the makeover it deserves!