Financially Smart Home Improvements

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Photo of crown molding in a hallway to illustrate different home improvement projects.
  • Add molding: Crown molding and chair rails can make a room look more polished and can give a space a more expensive look. There are hundreds of options for molding and it can be made to look simple or more detailed. There are even options for using flexible materials such as foam that would make installation much easier. The project is relatively inexpensive as well, costing about $1.50 per square foot if done yourself vs. $8 per square foot if done professionally.
  • Put in quality ceiling fans: Ceiling fans are now available in a wide variety of colors and styles so they can look good as well as help homeowners save money on their cooling bills.
  • Add trees: Trees not only look good and can add to the curb appeal of a home, but they also save money on energy costs, lower stress levels, protect a home from the elements, and can prevent erosion from roof runoff.
  • Install a patio: Patios are an effective way to add onto your home’s square footage without actually doing major construction to the home itself. Homeowners can expect to get back 30%-60% of their investment on a patio. Keep the patio simple and functional; don’t add on many high end upgrades such as an outdoor kitchen if yours would be the only one in the neighborhood.
  • Do energy-efficient upgrades: The value of energy-efficient homes continues to rise, so take advantage of completing any energy saving upgrades that are available. One way to save energy in your home is to convert your wood burning fireplace to a gas one. Gas fireplaces have been reported to have energy-efficient ratings as high as 77% while their wood burning counterparts have about a 15% rating. Not only do gas fireplaces save energy, they are also attractive to buyers; about 39% of homebuyers report that a gas fireplace is desirable or necessary in a future home.
  • Get creative with storage: Storage is always a good thing so finding ways to add storage in your home is a great feature. Think creatively when adding storage; add storage space in between wall studs by opening up drywall, hang platforms from the ceiling in the garage that hold storage, etc.
  • Exterior lighting: Lighting the outside of your home spotlights it, shows off it’s features, and can keep burglars away. Not only is exterior lighting attractive to buyers (90% say it’s a desired feature) but you can expect to recoup 50% of your investment in hard wired light fixtures.

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