5 Top places to spend money in your home
You’ve earmarked some funds to give your home a little face-lift, but it turns out accruing those savings was the easy part — the tough part lies ahead of you, in choosing which project you want to tackle.
Do you indulge in the kitchen overhaul of your dreams? Or how about swapping out that wall-to-wall carpet for the hardwood floors you’ve coveted since you bought the place? When it comes to spending your hard-earned reno savings, knowing what improvements will net you the biggest return on your investment can be invaluable in coming up with a game plan.
1. The kitchen
The most valuable renovation a homeowner can invest in is the kitchen; creating a space that flows and is logical is key. Adding an island if space allows is a big plus. The kitchen is the heart of any home, and having an extra prep area that also doubles as a hangout will surely add value.
If you’re looking for inspiration for you next reno, just look down. Swapping out your existing flooring is a simple way to effect noticeable aesthetic change in your home and build equity.
3. High-quality furniture
You obviously want your home improvements to contribute to your home’s value, but it’s also important to factor in projects that pay in daily dividends such as comfort, versatility and livability.
Investing in a gorgeous, high-quality couch that also happens to be comfy will maximize the way you (and guests) enjoy your home.
4. The exterior and landscaping
There’s no doubt about it — improvements to your home’s exterior and landscaping virtually guarantee you’ll nearly recoup the entire cost. Other high-return outdoor improvements include siding replacement, a deck addition and landscaping.
5. The bathroom
If you’ve ever spent any amount of time watching home improvement shows, you know how important a beautiful bathroom is to the overall appeal and equity of the home.