Sprucing up your home with a few notable, yet pricey home improvements can be extremely beneficial, but it can also lead to a few unwanted consequences; lucrative home improvements can unfortunately deteriorate over time and ultimately break. However, if the home improvement is done right, it can improve the quality of life for any homeowner or renter. We reveal a myriad of strategies, on specific upgrades, to determine if an expensive home improvement is likely to break at some point, as well as the potential profitability of a few common improvements.
It’s all in the Strategies
Determining if an expensive home improvement will decay over time can often be a difficult task that could cost the homeowner or renter thousands of dollars. Although it can be difficult to judge, there are a few common strategies to determine if your next home improvement could possibly break down in the near future.
Adding a swimming pool to any home is a common fantasy for many individuals; the ability to cool off on those scorching hot summer days sounds like paradise, right? Well, a swimming pool can cost anywhere from $25,000 to a whopping $100,000 with an additional few thousand dollars to annually maintain the pool.
A pool owner must also be responsible for maintaining the chemical balance of the pool, as well as keeping it properly filtered. If this is ignored, the chemical balance will become unstable, which can ultimately lead to unwanted health impediments.
Raise the Roof
Replacing your roof can be incredibly good, or incredibly bad. If done with absolute perfection, it can raise the value of your home tremendously. If done poorly, it can lead to consistent leaks, drafts of wind, and falling debris that can potentially harm the inhabitants of the home.
An External Dilemma
Adding an external garage can offer various issues that can be an absolute headache. For instance, the garage can decay significantly over time due to the various elements that it is exposed to on a daily basis. This can ultimately lead to car damage, as well as costing thousands of dollars to repair.
How Profitable is this Home Improvement?
Increasing the value of your home, whether you rent the property or own it, is beneficial in a variety of ways. With plenty of profitable home improvements on the market, it can be difficult to select the best one.
Remodeling a Bathroom
Remodeling your bathroom has an increasingly high return on investment; dedicated planning, finding the right contractor, and a positive attitude will leave you with an improved and remodeled bathroom that will boost the value of your home.
A Stunning Appearance
Various exterior improvements, such as repainting the property and giving it a refreshed look, can actually entice more individuals to your home and give it an overall increased value. This simple, yet effective insight should not be overlooked and can be the difference of a few thousand dollars.
A Safe and Fun Space
Adding a deck, patio, or porch can lead to a significant increase in the value of your property; creating a safe and fun space in which families can gather around and bond is a valued addition to any home. Although this may be a pricey home improvement, the return on investment is well worth it.
Home Improvements that have a High Return On Investment
- Kitchen remodeling
- Bathroom remodeling
- Window replacements
- Siding replacement
- Adding a porch, deck, or patio