One of the toughest things about home ownership is choosing what to live with, what to improve, and what to completely replace or reconfigure. It’s really hard to find a house that not only ticks all the boxes but that also doesn’t warrant improving in any way. So what do you improve? Obviously fiscal resources will dictate a lot of what you can and can’t do. But what’s really worth it? Sure you may want something, but does it make sense for your neighborhood, the market or long term goals? Let’s dive into things that are pretty much always a good return on investment.
Roof Repairs/Replacement
Your roof is a very precious part of protecting your home. There’s no point in making anything below it better if the roof isn’t going to protect it.
Replacement Windows
A brand new home shouldn’t need this and if you’ve done this fairly recently you shouldn’t need to either. But efficiency matters, leaks aren’t a joke, and outdoor noises are no fun to listen to inside.
Basic Exteriors Work
Old siding, Foundations that need repairs, Broken gutters/shutters/etc. These things keep your home looking and functioning properly. It’s really important to maintain the outside of your home just like it’s important to maintain your furnace. Too quickly the list of small repairs becomes overwhelming.
Maintenance & Upgrading Plumbing/Air Conditioning/Furnaces/Related Systems
It’s easy to take these things for granted. And it’s better for your wallet if you plan on upgrading and servicing these things before you run into problems. And then potential buyers don’t want to factor in the fact that they may need to shell out money just to live comfortably in the house.
Kitchen & Bathroom Upgrades
What makes sense for one person in their neighborhood won’t make sense for someone else. If you’ve got 2 bathrooms in a predominately 2 bathroom neighborhood and you’re thinking of taking on a master bedroom addition that would add a third bathroom but your kitchen is from the 70’s – that doesn’t make sense. On the other hand, if you only have 1 bathroom in homes in your neighborhood have 2, it’s probably smartest to add the second bath before throwing a ton of cash at your kitchen.
If all of these things are in good order with your home and you’ve got the room to improve in your neighborhood and the cash, you’re all set. But you should probably focus on making sure these upgrades are checked off before moving onto anything else.
