Everyone knows that when you undergo a major home renovation or home restoration project, it will require a substantial investment. But that doesn’t have to be the whole story.
There are ways to make your repairs, improvements, and upgrades pay you back! Some renovations give you an immediate “kickback” or add significant value to your property, while others save you money (or even make you money!) month on month.
Here are the seven most common ways that Florida homeowners make their home renovation projects pay them back dividends.
1. Invest In Professional Solar Installation
It’s no longer rare to find solar panels on Floridian homes. In fact, solar installation is fast becoming so common that solar-equipped homes may soon outnumber non-solar ones.
While there are many effective ways to boost your home’s energy efficiency, tapping into the savings available via solar energy is certainly chief among them. It is possible to actually eliminate your monthly electric bill or even produce enough solar energy that the utility company will be handing you a check every month!
Most people can own their solar system within 3 to 5 years based on a payment plan, and today’s panels typically come with a 25-year warranty. You could ultimately save thousands (or even tens of thousands) of dollars on energy over the years by investing in solar installation now.
2. Take Care Of Roof Repairs Without Delay
If you have or may have roof-repair needs on your home, that should be at the top of the home renovation list.
A bad roof leak could destroy drywall, flooring, appliances, electronics, furniture, and more inside your home, costing hundreds or even thousands of dollars in repairs. Far better to make roof repairs a priority and prevent that kind of expensive damage “before it doesn’t happen.”
And when renovating older homes, you can’t assume the roofing is in good condition. It’s best to order a pro roof inspection done so you can find and eliminate roof problems before you “discover them the hard way.”
3. Don’t Wait Too Long To Replace That Old Roofing
Removing old shingles and installing new ones also pays you back in a variety of important ways.
First of all, you prevent roof leaks and roof repair and maintenance costs by upgrading to a newer, better water barrier. Secondly, you can get a more energy-efficient roofing material or brand.
Third, a new roof adds a lot of value to your home and can help a listed home sell much faster and at a higher price-point.
4. Upgrade Lighting Fixtures & Use Energy-efficient Bulbs
You can exchange less efficient fixtures and bulbs to save 25% to 80% on the energy your lightbulbs expend.
LEDs and CFLs are common alternatives to incandescent bulbs, but there are also more efficient incandescents now available.
For a few hundred dollars or less, you can outfit your whole home to save on energy when it comes to lighting. In the process, you can improve the lighting quality and aesthetics, adding value to your home.
5. Make Key Upgrades Before A Sale
On average, you walk away with only 65% of the cost of remodeling coming back to you as an increased sale price – but there are some caveats.
Improvements made just prior to selling your home will up the value more since there is virtually no depreciation involved. You may recoup 100% and help the house sell faster.
Some renovations are particularly smart just pre-sale. You are likely to gain money out of it. Upgrading the kitchen or bathroom, adding a deck or patio, or installing wood flooring would be key examples.
6. Always Repaint Your Home Before Listing It!
It costs very little to repaint your home, and yet, a bright, fresh new coat of paint does wonders for making a home sell faster. This is an improvement that almost always pays you back.
In general, it’s best to stick with basic colors like white when repainting a for sale home. No one can argue with white, and it’s easy for the new homeowner to paint over it. White also makes your space look larger while potential buyers are visiting during an open house.
7. Consider Re-siding Your Home
Finally, re-siding your home can also add a great deal of value to it. This may be a concern before listing your home but can also be of value at any time.
Vinyl siding may last, say, 20 to 25 years, but it will fade and become brittle on sunny walls while gathering moss and mildew on shadier walls. Hail can punch holes and cracks into aged vinyl, and the older it gets the harder it will be to power wash (with an effective result.)
New siding will immediately change the look and feel of your whole building, and it will obviously do a lot to increase the value of your home in the eyes of any potential buyers.
There are many ways that you can make smart home renovations that will save you money, make you money, or increase the value and desirability of your property. Solar installation, new roofing, new siding, a simple re-paint job, and more can pay you dividends in a variety of ways over the years.
To learn more about how you can improve the value of your home, or for a free quote on solar installation and/or roof repair or replacement, contact Sheegog Contracting in Central Florida today!