The temptation of purchasing a new home creeps into the mind of many homeowners that have paid off their mortgage. The truth is that the best financial move would be to increase the value of the current home instead of selling. There are circumstances like that of outgrowing a home that will make selling a priority especially if the housing market is healthy. You might be able to create a new life in your current home with a few major renovations. The following are renovations to consider in order to make your current home more livable instead of selling.
Replacing Windows with Energy Efficient Options
The windows in the home can be costing you money monthly especially if they are older windows with poor insulation. Replacing the current windows can allow for savings on electricity and can provide more natural light. Natural light can completely change the energy in a room and buyers in the future will look at this as a positive feature. Being comfortable in your new home regardless of the room you are in due to improved insultation will be something that you notice.
Additions to the Home Can Work Wonders
Additions to the home can come in a variety of forms. Adding a bedroom or an in-law suite are popular options. Being able to earn income from listing an in-law suite on Airbnb can provide extra cash monthly. Finishing the basement is another option if you want to increase the livable space in your home. Take time to see which additions will make sense practically and financially.
Replacing the Flooring
Replacing the floors from carpet to tile or wood can give a home a modern feel. Flooring can be expensive but it is essential to allow professionals to take this job on. You will have to invest in equipment to do this job correctly. Shot blasters for sale can cost as much as an entire room being done so compare the financial risk to the overall reward of taking this project on alone.
Create a Great Outdoor Space
Creating an outdoor space for entertaining or relaxation is important. Far too many people leave home to relax when leaving the home is anything but relaxing with today’s social distancing requirements. Even something as simple as installing a basketball hoop can allow for hours of fun. Families are spending more time together so spend it actively instead of binging another show that is streaming. A pool or deck with a grill are other options that can allow you to live better daily.
Revamping your current home can make you laugh at the thought that listing the home was ever on your mind. Take the time to create a list of renovations or requirements you would have in a new home. The odds are that you will be able to add what you need to your current home especially if you have a decent size piece of land.