Real estate is one of the most direct investments you can make. However, once you purchase a property, its valuation typically rises as time passes due to scarcity and demand.
You can increase the rate of valuation increase by implementing some affordable home improvement ideas each year. Here are some of the top ways homeowners in Brooklyn and elsewhere get the most out of each dollar.
1. Interior Painting
Most interior walls require a new coat of paint every three to five years. However, some manufacturers push that envelope to ten years if you use a high-quality product. So, whether it is one room that gets an update or the entire home, you can refresh the décor while creating different attitudes or atmospheres to enjoy.
Try to think about the mood you want to establish in each room. For example, greens, blues, and lavenders tend to be calming, allowing you to have a place to relax. On the other hand, colors like orange or red are often more stimulating.
2. Update the Flooring
The average cost to update about 500 square feet of flooring in a home is $3,000. Numerous factors go into an estimate, including materials, access concerns, and labor. That means your project could come under that median or be over it.
Hardwood is the most expensive option for many homeowners, with some choices priced at $22 per square foot or more. However, you’ll also get a longer lifespan and more refinishing options by going in that direction.
If you decide to remove carpeting in favor of hardwood, laminate, or similar products, please remember to dispose of the unwanted material appropriately. NYC has specific rules governing this activity.
3. Kitchen Update
The most expected update to a kitchen involves its cabinets. You might be forced into this kind of renovation because of damage, but you can choose more affordable options that fit your budget. Simple, like upgrading your handles and hardware, can deliver significant results.
Flooring, countertops, and appliances are the most common kitchen remodel options that homeowners choose. In addition, consider changing the gas lines or plumbing, updating the electrical routing, or adding a new backsplash.
4. Intelligent Homes
You can find everything from robot vacuums to apps that control appliances and lights. The number of intelligent gadgets in this category keeps getting bigger, allowing you to focus on security and comfort while enjoying a potential equity boost.
Most in-home installations require different boxes or containers to hold the wiring and technology, but these can be hidden in bookcases or other ways to avoid clashing with the décor.
5. Exterior Paint
If you don’t mind working on a ladder, this home improvement idea is one that most homeowners can tackle. Unfortunately, it can also be time-consuming since most products in this category require you to scrape and prime before you start painting.
This home update becomes much more efficient when hiring a local pro to do the work. Although the cost is higher since someone else is doing the job, you can often make up the difference from the curb appeal boost.
New paint (or stain!) will also help the siding last longer. If it has been more than ten years since your exterior got an update in this category, it might be a good idea to consider budgeting for this project.
6. Trim Updates
Most windows and doors in homes today have some trim. This addition highlights the space and provides an aesthetic boost while offering practical design advantages.
If you have an immediate product installed, you likely have a thin strip of wood that frames the area.
If you want an affordable update, consider painting the trim to boost it visually. Another option is to remove the border and use molding.
With squared corners, you can use straight cuts to create a beautiful frame around windows and doors without a significant labor investment. If the measurements are correct, you could finish most of the installation work in a day.
7. Patio, Porch, and Deck
If you have an outside area to use at home, let this year be when it gets updated for modern use. Add plumbing, gas lines, and other resources to develop another space to host social gatherings or enjoy a quiet weekend. You can also make it the year to install this asset on your property.
These affordable home improvement ideas will let you maximize the enjoyment of your property while keeping your savings account happy. For more ideas, please get in touch with one of our representatives at your convenience!
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