Are you thinking about renovating your house with hopes to not only improve the aesthetic appeal but also to increase the value of your home? Well, Ken Venick with Equity Mortgage is your local Lutherville mortgage lender that has listed the top 3 renovations that give you the biggest return on investment.
#1: Energy Efficient Improvements
To limit our dependency on nonrenewable resources, homeowners have been making improvements on their house by becoming more energy efficient. This is an excellent investment and can save you thousands of dollars in the future. It has also been shown that first-time homeowners tend to purchase a home that is more “green” as opposed to one that is not.
Some of these improvements include upgrading your insulation. Getting a replacement window install can reduce the costs associated with energy and heating, saving money towards your electricity bills. The same applies to doors, which can help keep the air conditioning and/heat inside your home, therefore increasing comfort in the home. Also, purchasing LED light bulbs or installing solar panels is a great energy efficient source that will appeal to buyers.
#2: Curb Appeal
Some homeowners feel the interior of their house is the most important part and demands the most upkeep. What they fail to realize is that your home’s curb appeal is the very first impression your house makes on a potential buyer. Therefore, updating your home’s exterior can help increase the value of your home because buyers are more likely to make a lower offer if they are not impressed with the exterior, or will refuse to enter your home altogether.
Inexpensive tips you can do to renovate the outside of your home, without breaking the bank or needing to take out an additional Lutherville mortgage, include looking at wood stains to revamp your fence, buying fresh mulch for your flower beds and planting new flowers. In doing so, this will give your home a fresher look and increase its aesthetic appeal. You could also add outdoor home security cameras to make your property look well protected, increasing appeal.
#3: Updating The Kitchen And Bathrooms
Making small renovations to your kitchen and bathroom can go a long way. If you have an outdated bathroom, buyers will be less inclined to make an offer. The more modern and new these areas in your house look, the more your home will increase in value. You do not have to make drastic improvements such as installing marble countertops and a steam shower, but updating the tile and painting the walls can make your bathroom and kitchen look brand new.
For more information on other renovations that can increase the value of your home, or to learn about different Lutherville home loans, please contact Ken Venick with Equity Mortgage at 443-471-4310.