|Best Financial Investments for Your Home|
|By Craig Middleton|
|RISMEDIA, Wednesday, November 29, 2017— Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
Over the last couple of years, rehabbing TV shows have become increasingly popular. In these shows, people fix or introduce new features to their homes while adding substantial market value to the house in the process. If you own a home, you can make many of these types of fixes or additions to increase the value of your home, too. You can also enjoy these changes for as long as you live there. Some of the best financial investments you can make to your home include:
Major Problem Fixes
Fixes and additions to the inside of your home can be a great financial investment. A fresh coat of paint to the interior can add value by making the home look cleaner and brighter.
Update Bathroom, Kitchen and Appliances
Kitchen remodels can be another way to significantly improve the value of your home. For kitchen remodels, you’ll want to spend money on functional items such as cabinets, drawers, pantry doors and appliances. Appliances such as refrigerators don’t have to be completely new, but they should keep up with current trends. Kitchen remodels should also suit the home. A kitchen that looks like it belongs in a $300,000 home will feel out of place in a $150,000 home.
Adding high-efficiency appliances to a home can modernize it and also save you money on electricity. Some states and cities have tax programs that could reduce your taxes if you buy and use high-efficiency appliances that require less electricity.
Overall, you should research the investment potential of your home before making any purchase. If you are trying to increase the value of your home, you need to make sure your fix or addition will increase the value of the home not only for you, but also to potential buyers.
This article is intended for informational purposes only and should not be construed as professional advice. The opinions expressed in this article are those of the author and do not necessarily reflect the position of RISMedia.