How to Invest in Your Own Home

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Investing in real estate doesn’t require buying new property. If you already own a home, improving it is one of the best long-term investments you can make. You can increase your home’s value and make life more comfortable for yourself at the same time.

Here are some of the best ways to invest in your own home:

Replace Old Flooring

Real or engineered hardwood flooring might seem costly up front, but it’s an excellent way to add value to your house. This counts especially if you are also removing carpet in the same step. Hardwood floors are durable, versatile and timeless and there are a variety of stains and finishes available to increase their longevity and keep them looking their best. Both real wood and engineered wood floors can go decades without maintenance, which saves you money in the long-term and adds a highly sought-after feature for potential homebuyers in the future.

Refresh Your Bathrooms

For bathroom remodels, a little can go a long way. Even just a fresh coat of paint or new light fixtures can make an enormous difference in the aesthetic and overall feel of a bathroom. For a bigger investment, replace dated fixtures and flooring. You can save money on utilities and help the environment by adding efficient features like low-flow toilets. If you’re handy, you can DIY most bathroom projects. You can invest your time and effort into making the upgrades yourself rather than paying a contractor.

Finish Your Unfinished Spaces

If you have an unfinished attic or basement, now might be the time to finish it. The great news is that you don’t have to decorate these spaces fully for the project to be an excellent investment. Adding insulation, flooring and finished drywall can be enough to make the space useful and therefore valuable. One thing to keep in mind with finishing basements and attic spaces is local building code requirements. There may be certain steps to take in order to count the square footage of the space as “livable” in a home appraisal or sale, so it’s a good idea to consult an expert to make sure you’re investing the right way.

Update Your Plumbing

New plumbing is always a good investment. Like electricity, the quality of your plumbing affects quality of life in almost every part of the house. Old pipes are prone to corrosion, which over time can affect drainage or even cause more serious issues like leaks. You can increase energy efficiency and home value if you opt to replace old pipes with new ones that are better insulated. While some plumbing projects are doable from a DIY standpoint, if you’re doing a full-home upgrade of the entire system, hire a professional to help. You want to make sure that everything is installed perfectly to make the most out of a potentially pricey upgrade.

These are just a few ways to invest in your home, but don’t forget that any minor changes add up. Start small if you don’t feel ready to take on an extensive project. You’ll be investing both time and money and see the benefits both in quality of life and in eventual home resale value.

How to easily update your old house & keep it’s charm

Old houses have an allure to them that many newer models may be missing, unless specifically built to model an older home. Whether it’s the nostalgia from your family home, you’re a history buff with a dream of living in a historic district or you’re simply one of many old house enthusiasts, old homes have a pull that seldom goes unnoticed.

And let’s say you get you find your dream home, make an offer, and actually get to live in the house you’ve always wanted. Are there any other steps to living on the property where the home sits? What about old house restoration? What about room expansion? What about smaller projects that could benefit both your life and your home site?

Here are three smaller projects that can be done around an old house and older property to enrich your lifestyle and maintain your old house’s allure.

Add foliage

A benefit of having an old home is its aesthetic. However, that aesthetic can be threatened by things such as decrepit trees, blank places where flora once stood or any or the hundreds of thousands of combinations associated with decreased curb appeal. But fret not. There’s a fairly simple solution: add more foliage.

Trees such as evergreens, oaks (depending on your location) and willows can bring an added level of allure to your home. These trees are also fairly easy to care for, and bring an enticing nostalgia to the property.

Swap out your windows & doors

Old houses, while boasting excellent and often Herculean structures, tend to have one correlating flaw across the board: energy efficiency leaks. These leaks are often due to warped doors or windows still hanging in their original framework.

For doors, try adding an energy-efficient style – like fiberglass or vinyl. When hanging new windows, opt for double panes, since they can save anywhere from 18% to 24% on your utilities.

Update old house features

Old houses often come with old features, like dumbwaiters, narrow staircases or now-decorative fireplaces. While some of these items may hold a host of charm, some can be updated, cleaned or put back into use after a thorough inspection.

Electrical systems and plumbing should be taken care of first, especially if there’s an issue as noted by a professional. However, updating insulation behind walls, adding a more energy-efficient wall surface or even repurposing old laundry chutes can not only capitalize on your home’s character, but help you save a little extra in the long run.

Whether you’re purchasing an older house to flip or live in for years to come, updating some of the older features can maintain the appeal of the home without causing you headaches down the road.