You might have a kitchen that has seen better days. Your bathroom could feel like an uninviting space that makes you cringe every time you want to take a shower.
When you think about the best home projects to tackle this year, the first goal should be to manage comfort and convenience. Although equity considerations are part of the decision-making process, the upgrades that make the most sense are those you want to use.
The only exception to that rule is if you plan to move in the next six to 12 months. In that case, building equity makes more sense than delivering comfort.
Here are the top home projects to consider investing in this year.
1. Install Manufactured Stone Veneer
This product is one of the best decorative options you can add to your home this year. It gives your exterior a lovely facelift without the added expense of using natural materials. Most companies call it “faux stone.”
One of the best projects to tackle is to remove a strip of your existing vinyl siding with this product. You can also add it to entry archways, porch areas, or overhangs. In addition, you’ll need to have a water-resistant barrier installed underneath the product to prevent damage from precipitation.
2. Update the Garage Door
Garage doors do more than serve a functional purpose for your property. They are an essential design element that’s often overlooked. When you think about your home’s curb appeal, this item is one of the first things that people see.
Please don’t wait until your garage door isn’t functional to upgrade it. Change the tracks to galvanized steel, invest in an insulated barrier, and look for a lifetime warranty. Most automatic openers are reusable. If it doesn’t work either, add the cost to this project. It’ll be worth it!
If a simple update is all you need, consider adding weatherproofing materials to your garage door. The goal should be to seal any air gaps that reduce your energy efficiency rating.
3. Improve the Kitchen
Since the kitchen is the one place at home that everyone uses, it often contributes the most value and equity. But, on the other hand, when you’re working in an outdated space that isn’t entirely functional, the experience can be close to depressing.
You don’t need to invest in entirely new counters, cabinets, and backsplashes. A minor remodeling project can do a lot of wonders for your space. Start with some fresh paint, then swap out the older appliances with more energy-efficient models. Finally, consider updating the sink or flooring if you’ve got some cash remaining.
4. Siding Replacement
Although vinyl siding is affordable and easy to install, upgrading to fiber-cement products doesn’t cost a lot more. You can get something that looks like shingles, stone, brick, or even wood with this option while achieving more durability. In addition, it won’t be as susceptible to precipitation or pest damage.
Most products already come primed and painted, which means you need to take off the old stuff and install something new. If your home needs a weatherproof barrier installed or updated, don’t forget to include that cost in the project.
5. Wall Repair and Paint
Walls can take a beating, even when you’re being careful to avoid potential impacts. They pick up nicks, chips, dents, dings, and all sorts of damage over the years. When you want to make a room feels more alive, patching the holes and giving everything a fresh coat of paint can be very helpful.
A little joint compound can help create a smooth surface. If you have moderate damage, it might be necessary to cut some drywall to fit in the repair area. Don’t forget to tape the seams! If you want to save a little time, invest in paint that comes with the primer mixed in already.
6. Your Front Door
The front door is the other element that catches the eye when considering curb appeal. You can use it to make a statement by having bold colors, such as red, yellow, or even purple. Use your creativity to express your personality here. If you want to create a cohesive look, consider updating the color to match your garage door remodeling project.
When it’s time to update your home, it helps to tap into your equity without adding more debt into the financial picture. Some companies let you receive cash in hand in return for a percentage of your property’s future value. You can also dig into your savings a little, and don’t forget that a Roth IRA contribution is always something you can withdraw. It’s just the earnings you can’t touch until you have a qualifying circumstance.