Finding a good investment for your money can be difficult. Interest rates are low and stable, which is good for lending and mortgages, but when you’re trying to save some money and let it grow it can be hard to find a worthwhile return. Putting some money into your home, even a small amount, by making some minor alterations or additions is a great way to invest in the future by adding value to your home. You also get to enjoy the improvements while you live there!
There are many simple and cost-effective ways to improve any home, and some can even give you an extra return on your investment by reducing energy bills. With just a small investment in the right areas of your home, you can see a double-digit return on your investment, far exceeding what an average savings account can offer you. Here we are going to look at six ways anyone could add some value to their home, even if they are on a budget.
A great way to invest in a home is to make some environmentally conscious improvements, such as energy efficient insulation for ceilings and walls, and double or even triple-glazed windows. These kinds of home improvements are often available very cheaply, and sometimes with government assistance in the form of grants or tax breaks.
Solar panels and heat pumps are becoming increasingly popular, as they are a great way to reduce energy bills. Many people are now looking for eco-friendly features when searching for a new home, and this trend is only likely going to grow in popularity. Eco-upgrades are a great option to add some value on your home, as well as reduce bills.
Convert a Box Room
Many homes have a small, awkward box room that nothing quite fits in. Too small for a bedroom, but too big to be a cupboard, these rooms often become a dumping ground for unused or unwanted furniture and boxes of hoarded oddities. Turning a box room into a useful room can add thousands to a home’s value if you can find the right use for it. A utility room for a washer and dryer can be a good choice, but you need to ensure water is available and plumbing can be expensive.
A home office is a cheap and easy solution but doesn’t offer a great deal of value when it comes to selling a home, so try and think a little ‘out of the box’ for the box room. A small home library can be a quirky and simple edition; bookcases are simple to build yourself. Use some reclaimed wood from a salvage yard and you could have a very characterful library for very little investment.
Landscape Your Garden
Having a simple garden and lawn can be enough for many people but adding some decoration or a theme can add a real selling point to a home and will be something you can enjoy yourself, too. Taking a typical flat lawn and bringing in some split-level planters for its edges can add some depth and definition to a square and plain space. Using the right materials can help bring together a theme.
Use some bamboo sticks to make the planters, and add some tropical palmed plants or ferns, and you can start a Hawaiian theme. A fire pit is a simple thing to make, especially with some extra bamboo as seating to add to the Pacific vibe. Put some tiki torches in a few spots. If you have the money, add a hot tub! You won’t regret it and you’ll get the money back when you sell your house.
Yards, Drives, and Paths
Tidying up your driveway, pathways, or a concrete yard can be a cheap and easy way to add a lot of value to your home. Stamping patterns in concrete pathways, patios, and drives have become very popular lately, and here you can learn why. Using techniques like this can give your home a beautiful first look that prospective buyers will find attractive, especially when paired with some garden landscaping.
Build Your Own Sunroom
Sunrooms are a great way to add extra space and value to a home. Used well, they can add a dining room or an extra lounge to your home, rather than just an occasional or seasonal space. Building a sunroom used to be very expensive, but now it is possible to save a lot of money by using stand-alone plans that can fit any home.
By building the base yourself or with the help of a contractor, you only need to call in the specialists to fit the roof. This can save thousands in labour costs, and many plans and kits are available to help do-it-yourselfers of any level of experience.
Utilise Your Attic or Basement
If your home has an attic or basement that you are just using for storage, then you have the perfect home investment opportunity waiting for you. All that space is easy to convert into a usable living area. You could add a utility space to a basement or extra bedrooms in an attic, or even go for a more unique choice.
Basements make excellent home cinemas and have space for you to really go for it, with a popcorn machine or custom sound system. A wine cellar or bar room is also a good plan for a basement, and there might be room for a pool table or darts. Attics make great home gyms, or extra living space if you have children. With light, airy windows and lots of floor space, a low ceiling attic makes a great playroom for young children and a fantastic teenager’s bedroom for when they get older.
With such little returns available from a savings account, putting some of your money into your home is a great way to get some money back in the future, and you can enjoy home improvements while you wait.
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