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Enjoy your home more today – and sell it for the best price tomorrow. When it comes to home improvement ideas, some are more financially savvy than others. And if you’re on a limited budget, it becomes even more important to be savvy. Here are seven affordable home improvement projects that’ll help you enjoy your home more today and provide an excellent financial return in the future.
Add crown molding
It makes rooms seem both bigger and taller. It’s an elegant addition to any home. Plus, wood moldings come in hundreds of options, from simple to ornate that you can stain, paint, or leave natural. You can also find moldings in flexible materials, such as foam, that make installation a whole lot easier. Some moldings even include lighting that casts a soft, ambient glow. Finally, don’t forget entryways, doors, and windows. Bump up the trim around these areas to give rooms a completed and expensive feel.
Hang quality ceiling fans
If your ceiling fans are old and outdated, new ones (coupled with a fresh paint job and crown molding) could give your rooms a refreshing update while saving money.
Plant some trees
Adding trees doesn’t instantly pop into your head when you think of adding value to your home. But trees are moneymakers that get better with age. A mature tree could be worth between $1,000 to $10,000, says the Council of Tree and Landscape Appraisers. A 16-inch silver maple could be worth $2,562, according to a formula worked out by the Purdue University Cooperative Extension Service.
Outdoor kitchen and decks
Don’t go crazy and trick out your outdoor space with high-end amenities, like an outdoor kitchen – especially if you’d be the only one on the block with one. When it’s time to sell, you won’t get back on your investment in outdoor kitchens and other high-end amenities. Instead, keep it simple and functional to see a return on investment. A professionally installed deck costs about $10,000 to install, but if you DIY, you’ll save more than half that while adding to your equity. Don’t skimp on deck lighting. It can make all the difference in functionality and beautification.
Upgrade your insulation
It’s not as exciting as a kitchen remodel, but it doesn’t cost as much either. Plus, you’ll save all year long on your utility bills.
Add some creative storage space
Since when have you heard someone complain about too much storage? Never. Adding storage is a no-brainer, but it does take a little brainpower to find your home’s hidden storage. Here are a few ideas: Open drywall to create storage cubbies between your wall’s studs. Install platform storage that hangs from your garage ceiling. Even stairs can give you more storage.
Install landscape lighting
Exterior lighting makes your home shine in the evening, accents features you like most about your house, and helps keep burglars away. Installing motion-detecting lights can even lower some homeowners’ insurance premiums. Place accent lights under your favorite trees to show off your landscaping’s top earners. Put them on a timer, so you don’t waste energy running them during the day. Also, choose a warm, white light. It’ll make your home look and feel welcoming. Remember, when you’re in the market to buy or sell a home, contact a Realtor member of the Stark Trumbull Board of Realtors.
Marlin Palich is president of Stark Trumbull Area Realtors, which serves Stark, Carroll and Trumbull counties. Visit www.star.realtor for a complete listing of Realtors and affiliate members. If you have any questions or comments on this article, contact Cosgrove at [email protected].