Making upgrades to your home can be expensive. However, there are lots of benefits to completing home renovation projects, too. Before making any home upgrades, you need to weigh the pros and cons and determine whether it’s going to benefit you in the long run. Learning more about each home upgrade will help you make your decision. Here are 4 common home upgrades and what you should know about how they will benefit you long term.
Bathroom Remodeling/Bathroom Addition
A quick way to add value to your home is to upgrade your bathroom. However, major renovations or even the addition of a bathroom will actually lose you money. On average, adding a bathroom to your home will cost you about $25,000. Unfortunately, it won’t add that amount to your home value. In fact, you’ll end up recouping less than 60%.
Major renovations will land you in the same situation. If you want to make the most of a bathroom remodeling project, stick to things like upgrading to energy efficient fixtures, adding space, or changing from a tub to a walk-in shower.
There are lots of benefits to installing a water softener in your home, including:
- Prevents limescale buildup
- Softer on skin
- Better for appliances
- Easier on pipes and plumbing fixtures
A water softener costs over a thousand dollars, but some cost much more. Fortunately, you can get deals from companies like Pelican Water. However, be prepared to pay for maintenance and upkeep. If you purchase a water softener that needs rock salt, you’ll need to purchase rock salt on a regular basis. For maintenance, you can either pay someone to come in and work on it for you, or you could complete the maintenance on your own.
A water softener can increase your home’s resale value, too. So, if the benefits are worth it to you, it’s something you should consider installing in your home.
Solar Power Panels
Solar power panels help reduce your carbon footprint. They also increase your home value and lower energy costs. However, solar power panels can cost a lot of money upfront. Some cost as low as $10,000, but some of them are well over $40,000. So, are they worth the cost?
Fortunately, there are state and federal tax credits that can help you deduct as much as 30% of your installation costs. It can also help you save around $12 every month on your utility bills. And, as an added bonus, it can add about $15,000 or more to your home’s value.
In the end, you’ll get the most out of this home benefit by paying for the solar power panels rather than leasing them from the company. Talk to companies like Direct Energy to get a quote and determine if it’s the right move for you.
Adding sufficient insulation in your attic costs a little over $1000 on average. However, it can increase your home’s resale value by, at least, the amount you paid for the insulation. On top of this benefit, you can also enjoy lower energy bills, greater sound insulation, less vulnerable to temperature fluctuations, and no frozen pipes during the colder months of the year.
Before making any upgrades around your home, it’s important to consider whether or not it will benefit you long term. Yes, it’s helpful to choose an upgrade that will increase your home value to help you recoup your money. However, if it’s something that would make you more comfortable in your home, it might be worth completing the home upgrades that you want anyway. And before you do it, check out Promocodes.com for deals on home improvement products and services.