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Making the Most of Your Investment

by bob.g (follow)
Home (99)      Finance (19)      Renting (11)      Home Improvements (1)     
Of all the investments you will make in life, your home is likely one of the largest. While the value of assets such as cars and trucks inevitably decrease with time and use, it's actually possible for you to increase the value of your home for resell. Whether you are hoping to sell your home or just want to spruce it up to be better able to enjoy it, there are some upgrades you can implement that will increase its value and make it a more comfortable and inhabitable place to call home.

Replacing Old Plumbing

All good things must come to an end, and this stands true when it comes to your plumbing. To get a better understanding if it's time to replace yours, you must first know what you're working with. For example, if your home was built in the 1950's and you have copper plumbing, it may be time to look into this home improvement project as copper piping lasts between 70 to 80 years. Another weak link might be valves, and if you need to replace one of them, it's a relatively simple DIY task if you have all the information required. You can easily find out what type of piping your home contains by reviewing the home inspection report you received when you made the initial purchase.

source: flickr creative commons



If you're home is more than 60 years old, it's a good idea to perform regular inspections to ensure your pipes are standing the test of time. While well-maintained pipes can easily outlive their expected lifespan, detecting issues before they become full-blown problems will save you money in the long run. If you are experiencing issues such as leaks or tubing discolorations, it's time to call an experienced plumber for a detailed analysis. Rest assured the investment is one that pays back as the estimated return on investment is approximately 260 percent.

Giftwrap the Home

Whether you are given a gift as a birthday present or just a pleasant surprise, ornate wrapping only makes you more excited to open it and see what treasure lies inside. This stands true with your home. A great way to increase its value is to increase the initial appeal when you see it from the outside. A great way to accomplish this is to consider siding. Fiber cement siding provides a great outer-shell for you home, and it's made from sand, cement, and cellulose fibers. While it typically costs around $13,000 to add this upgrade, homeowners are usually able to recuperate nearly 90 percent of these costs. Not to mention, in the event of a sale, this attractive addition will increase interest in the home.

source: flickr creative commons


Transitioning Into the Outdoors

We don't spend all our time indoors. On nice days, its always refreshing to step outside and get a breath of fresh air. A great way to aid in the transition from indoors to the backyard is to build a deck, and the return on investment is impressive. It has been shown that, on average, homeowners who invest $10,000 on a wooden deck are able to recoup approximately 83 percent of the cost.

source: flickr creative commons


Kitchen and Bathroom

Of all the rooms in the home, the kitchen and bathroom are the ones most commonly trafficked. By making the decision to make upgrades in these rooms, you can significantly increase the overall value of the home. For the kitchen, you could consider simple projects such as changing the paint and adding a faux-wood finish to the cabinets. You could go further and buy completely new cabinets for both the kitchen and bathroom. These rooms require regular access, and potential future buyers will surely take special consideration as to the state they are in as they consider whether or not to buy and how much they are willing to spend.

source: flickr creative commons


A Style of Its Own

Your home is your safe haven, and it's within its walls where you are safeguarded from the outside elements. Here, you will spend hours of your life, and it's important you feel safe and comfortable. Whether you plan to spend the rest of your days in your current home or have a primary goal of adding improvements that will increase its value to make a profitable sale sometime in the future, these upgrades are ones that will help you achieve the goal.


Related Articles
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How to Increase the Life of Your Heating and Cooling Systems
How to Build the Ultimate Garage
Furnishing Your Investment Home


#Home
#Renting
#Home Improvements
#Finance
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