There are many reasons why someone would want to renovate a home. They may be looking to make their living space a little more “presentable” and “attractive” to guests or incoming family members. They may be looking to increase the functionality of a house. They may be looking to “make the house their own.”
Then there is the all-important reason for renovating a home: to increase the re-sale value of the house.
Houses, unlike apartments, are seen as investments. While someone may make a rent payment on an apartment for two straight years, they will not benefit from that apartment building’s increase in property value. Therein lies the difference between renting an apartment and owning a house: An owner makes money in the end.
Rent payments for apartments and mortgage payments for a house can be similar in terms of the amount of money paid. The difference is that a rent payment for an apartment is taken directly by the apartment complex property manager. A mortgage payment is simply a payment on a loan on a house that, when paid in full, will make the payer the owner of the house.
For this reason, many people own a home, as it increases wealth over time. This is generally true, but can change depending on the factors of the neighborhood, such as crime statistics and developments. Positive changes to the neighborhood can lead to increased property values. But negative changes can decrease it.
While a home provided a great deal in terms of space, including exterior space like a yard, one of the main positives in a home is the financial benefit. Overall, it is a better package for many, including those who are starting a family, than an apartment, even if the apartment has lower “risk.”
There are many renovation projects that people will try in order to increase the resale value of the home. One of the areas that is looked at the most when it comes to renovation projects is the bathroom. There are many options in the bathroom to renovating, as there are many features.
Some renovation projects in a bathroom include putting down new flooring that feels better and looks more attractive. Another renovation project in the bathroom is putting in new tiled walls or a better shower. Other bathroom renovation projects include putting in a new faucet or toilet.
One of the major areas that people work on when looking to sell their home is the lawn. There are many statistics associated with this, as landscaping provides a return on investment of 100% sometimes or even higher. There are many things that can be done with landscaping and many options. There are statistics included in the section below.
- Money Magazine wrote that landscaping can bring a recovery value of 100 to 200% at selling time.
- According to a Clemson University study, homes with “excellent” landscaping can generate a sale price about 6 to 7% higher than equivalent houses with “good” landscaping.
- Landscaping can speed up a building’s sale by as much as six weeks.
- Depending on design, paving material, soil type, and rainfall, permeable paving can infiltrate as much as 70% to 80% of annual rainfall.
- According to the US Dept. of Energy, energy-efficient landscaping can save up to 30% on home heating bills.
- The U.S. Environmental Protection Agency (EPA) notes that trees can reduce bothersome noise by up to 50% and can mask unwanted noises with pleasant sounds.
- Trees can reduce an unshaded home?s summer air-conditioning costs by 15% to 50%.
- Among residents of retirement communities, pleasant, landscaped grounds were important (48.5%) or essential (50.5%) to 99% of the residents.
There are many landscaping tips that can be helpful to further the selling of a home. One of the landscaping tips includes putting in a garden. A garden can be very attractive to buyers and make a home look better. One of the landscaping tips is to removes rocks and unnecessary debris from the lawns.
There are two more landscaping tips that may be helpful. Smoothing out the yard by putting dirt in large holes can help. Also adding shrubs or trees to the yard can help with air conditioning bills and general overall appearance.
There are terms associated with this. They include professional landscapers, landscaping company, beautiful landscaping, landscaping tricks, landscaping design, and lawn care.
