04/17/2019

Home Improvements that Can Add Value

As the weather warms up, many homeowners see it as the perfect time to make improvements inside and outside of the home. If you fall into that group, then we’ve got some tips for you! We want you to get the most value out of your project, so we’re sharing insight on where to splurge and where to skip.

IN THE KITCH & BATHROOM

What to Consider

It’s been said kitchens and bathrooms alone often sell houses. If you want to add value and potentially get a great return on your investment, start here. Whether you do a full-scale kitchen remodel or a small renovation, do things that improve the flow of the kitchen, and make cooking easier and more enjoyable. In the bathroom, you also want to balance form and function. Buyers appreciate consistency between the kitchen and bathroom, so, if possible, use coordinating materials for cabinets, counters, floors and fixtures.

What to Skip

Buyers are often looking for storage solutions. When you are making improvements in the kitchen, make sure you add storage or counter space. Skip anything that would likely reduce the amount of storage or workspace in the kitchen. In the bathroom, buyers are looking for a place to unwind. Stick to colors that make the appearance of the bathroom clean and light, and consider optimizing for how you will be using this space every day.

GREAT OUTDOORS

What to Consider

If you are looking to build a shed, add on to your home, or add an in-ground pool, any of these projects will require a revisement to your home insurance policy. Other popular background projects to improve your outdoor living space are expanding your patio, putting up a fence or building a fish pond. When it comes to the front yard and curb appeal, plant weather-tolerant plants, add some color with flowers and shrubs and maintain outdoor light fixtures, walkways and steps.   

What to Skip

When it comes to a pool, consider if it makes sense for your home’s location. Buyers can sometimes be turned off by maintenance and insurance considerations associated with a pool. As for curb appeal, avoid any bold design changes that a new buyer may want to immediately update for their own tastes. Additionally, consider how your improvements will affect outdoor maintenance and skip any that pose a large maintenance outlook.

HOME ESSENTIALS

What to Consider

Sometimes the biggest home improvements aren’t visible. Updating your essentials, like your HVAC system, insulation, electric panels and water heater will save you money in the long run. Improving your home’s energy efficiency is important to your cost of living there and may help attract buyers to your home. Consider upgrading to energy efficient appliances. Home security is also becoming increasingly essential, so consider installing an alarm system, and check out OKFB’s home insurance discount for those who qualify.  

What to Skip

Even though an item may claim to be “green” or promote energy efficiency, make sure you research these claims before you buy. Two good signs to look for are an ENERGY STAR® logo and good sustainability ratings online. When it comes to the value of these upgrades, they can improve your quality of living and sometimes lessen living costs. However, if you are making these improvements to increase the resale value, skip on anything that doesn’t allow you to market your home as energy efficient.

As you make improvements to your home and property, remember that changes often mean you will need to adjust your Home Insurance coverage! Contact your OKFB agent today to discuss any planned or recent home improvement projects.

Buckets of paint, ladder, rollers and a tarp for painting laid out on the floor of a room.