Top 10 Investment Splurges To Add Value to Your Home

With the downturn in the economy, rather than looking for a larger newer home, we turn to renovating our present dwelling.

Some renovations are more profitable than others, whether we are planning on staying in our home or renovating in order to better position our home in this buyer’s market.

No matter what our motivation is when we renovate, scrimping is not the route to follow. Cutting unnecessary corners and producing a ‘poor renovation’, be it in quality of products or in workmanship, will actually lower the value of a home. And when everyone is looking to get the best value for every dollar, scrimping is simply a major waste of time, effort AND money.

Since investing in your home can be money well spent when thought out and planned, these 10 suggestions serve double duty by adding intrinsic value to your home and actually saving you money in the long run!

  1. To update your home-style quotient instantly, choose an area that is most important to you. Then decide on one essential piece of ‘investment’ furniture. Whether it is a coveted dining room set or a custom designed couch, this feature will set the ‘tone’ for your whole home.
  2. The beauty of hardwood flooring not only looks wonderful but instantly adds value to your home the minute someone steps foot on it! With the endless selection of different types, colours, stains, woods and laminates, it is very easy to compliment virtually any home design and style. Simply walk into any flooring store and select your favourites—with experienced staff ready to help guide you to pick the best quality in your price range to compliment your home design and lifestyle, this one is virtually a no-brainer!
  3. As we all know, the greatest heat loss in winter of an energy-tight home, is through the windows. Easily blending in with any décor, install stylish and energy-saving ‘honeycomb blinds’. This will help keep your home warmer in the winter and cooler in the summer, thus realizing savings on subsequent heating and cooling costs.
  4. Adding instant curb appeal, a classic cedar shake or sophisticated slate roof will top your investment in style! A ‘boring’ roof can become a ‘crowning glory’ by simply picking the right roof tiles to immediately update the exterior making it more of a ‘welcoming’ home.
  5. With the concentration on energy conservationalism, consider installing solar energy alternatives such as solar panels or solar water heaters. This renovation alone will add more than just monetary value to your home. Your initial investment will start paying off immediately both in monetary savings and it has the added bonus of greatly reducing your carbon footprint which is so important to sustain our earth in this increasingly green-conscious world.
  6. Looking for and purchasing ‘Energy efficient’ appliances are a noticeably retrievable investment. You may spend a little more money up front but the amount you spend will be quickly reimbursed back to you. As a bonus, if you are planning to resell your home, potential home buyers usually attribute a higher value to these energy efficient machines than they actually cost.
  7. Air-conditioners and furnaces (with a 15-17 year life-expectancy), need replacing anyway, so update and improve your home’s air quality at the same time. With HEPA air-filters, electronic air cleaners and humidifiers, a complete HVAC system will improve both energy costs and efficiency (saving your those increasingly precious dollars), while improving your home’s air quality, thus helping you to breathe much easier on both counts!
  8. Your kitchen: where family and friends always congregate. Splurging here, going custom is the only way to create your homeowner’s dream. In-home consultations with local kitchen specialists will eliminate any potential buyer’s remorse from an ill-designed layout by ensuring your renovation choices utilize the most effective and efficient changes. This then transforms your kitchen into the most inviting hub of activity possible.
  9. Going the extra mile and including some high-end appliances for your kitchen investment helps create that ‘awesome’ happy and inviting environment, impressing both family and friends. A sub-zero refrigerator, professional grade oven and cook top or even an under-counter wine fridge shines!
  10. With more and more families ‘cocooning’, use any extra money to create a backyard haven. Make a splash and install a pool! Extend the fun into the late spring and early fall with pool solar heating units. Remember to include fabulous outdoor furniture for those quiet summer nights or vibrant backyard parties with friends and family, and your home is complete!

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