3 Home Improvement Projects That Can Add Significant Equity to the House
Typically, a do-it-yourself homeowner will constantly look for home improvement projects that can add a significant value to the home. Many of the projects are small enough that they will not break the bank or overextend their budget, but will provide additional equity to the home, once the project has been completed.
Many homeowners will limit their budget to approximately $5000 for any type of large remodeling project around the house. While not a sizable sum, there are many things that can be accomplished to enhance the beauty of the home, add to its functionality, or replace much-needed equipment.
1. Installing a Wood Fence
For less than $5000, it is easy to add a wood fence around the exterior of the property. This type of fence can add significant value to the home’s existing landscaping. They can also provide backyard privacy, or be used as a containment for dogs. In addition, installing a wood fence as a home improvement project adds an additional layer of security to the home.
Installing a wood fence can easily fit into most homeowner’s budget. They can be installed as a small picket fence, or paneling that has been pre-assembled, and only requires the upright post and some heavy lifting.
2. Replacing the Heat Pump
Heat pump air conditioning systems are only designed to last between 10 and 12 years, and that is with proper maintenance every year. As the home begins to age, many homeowners are faced with the idea that their home improvement project will be nothing more than replacing the existing heat pump air conditioning system. For less than $5000, a professional air conditioning company can replace the interior air handler, and the exterior condenser, and have the home heated and cooled properly for decades to come.
A newly installed heat pump air conditioning system is more cost-effective because it can make the home more energy-efficient. It can significantly reduce the amount of energy that is consumed just maintaining the heat or cooling year-round.
3. Painting the Exterior of the Home
One of the most common home improvement projects for the do-it-yourselfer is painting the exterior of their home. Often times, the siding can become sun-bleached, and take on a washed out appearance. A fresh coat of paint can easily put on a fresh sheen to the exterior of the home.
High quality paint for the exterior of the home along with all the necessary supplies can typically be purchased for less than $3000, which is significantly lower than the budget. It can protect the siding of the home for decades, especially when it is applied properly. Depending on the type of siding installed on the house, whether it is fiber-cement, vinyl or stucco, a fresh coat of exterior paint can add a high level of protection.
There are significant ways to add extra value to the equity of the home. By selecting the right types of home improvement projects, any homeowner can increase the home’s value, while enhancing its appearance or functionality.