Home maintenance is necessary for any homeowner, except if you are cool with your property becoming unsafe. Likewise, delaying a repair can make it worse and cost you more to fix.
On average, homeowners are expected to spend 1 percent to 4 percent of their home value on maintenance. Aside from roofs and other building components, home maintenance also includes systems and appliances that are prone to breakdown due to wear and tear.
To reduce overall maintenance costs, homeowners usually buy a home warranty. A home warranty plan covers the service, repair, or replacement cost of household systems or appliances for a set period.
Choosing which home maintenance project to prioritize can be challenging as they are all vital. However, it is possible to identify those that improve your home value and are worth spending the most on.
1. Kitchen remodeling and renovation
The kitchen is one of the major components of a home any prospective buyer will want to check out. Its design and features can make a significant difference in their purchase decision.
You can expect a 30 to 85 percent Return on Investment (ROI) on kitchen remodel expenses. This depends on the type of remodeling or renovation.
Difference between kitchen remodeling and renovation
A remodel typically changes the form of a kitchen, such as adding a kitchen island. Renovation, however, aims to restore an old kitchen feature into a good-looking and adequately functioning one.
Kitchen remodeling projects that add the most value to your home
You might be considering spending a lot on your kitchen remodel or renovation with the expectation of getting more ROI. Before you do this, it is essential to evaluate the cost of the project and the possible ROI because reports have shown that the more you spend, the lesser the return.
- Midrange minor kitchen remodels: A 86% return on an average investment of about $27,000.
- Midrange major kitchen remodels: A 42% return on an average spend of about $78,000.
- Upscale major kitchen remodels: A 32% return on the average spending of about $154,000.
2. Replacement of garage door
A new garage door can improve the overall look of your home. In addition, it can improve your home value.
Experts estimate a recoup of about 95 percent of the amount spent on the project. A market report by Remodeling Magazine estimated the return on investment to be about 102.7 percent.
Depending on the type of garage door you decide to install, this project can help reduce your recurring maintenance expenses.
Other benefits of replacing your garage door include:
- Security: New models of garage doors have better security features than the older ones. Installing one can help reduce the risk of a break-in.
- Safety: Old garage doors can be a danger to you and other household members as they are bound to malfunction. Some newer garage door models come with features that improve safety for users.
- Warranty: A new garage door will typically come with a warranty. This means the company will cover the repair and maintenance costs during the warranty period.
Should I replace my garage door?
The simple answer is yes if your garage door is old and damaged. However, if you have only recently replaced it or it is still functioning properly, replacing it might not be worth the investment.
In case you are contemplating, one way to ascertain what to do with your current door is by examining its present condition and evaluating if replacing it is worth the expected return.
3. Bathroom remodel
Bathroom remodels and the kitchen are some of the most expensive projects in your home. However, they are worth every penny spent when done right.
Bathroom remodels will return 87 to 94 percent of your investment. Unlike kitchen remodels, the more you spend on a bathroom remodel project, the higher the return.
For instance, if the remodeling project was only to change the bathroom tiles, you may get almost nothing in return. Meanwhile, projects like adding a walk-in shower and steam shower, among others, can make your home more appealing to homebuyers, especially those interested in luxurious homes.
4. Landscaping
Landscapes are the first area of a home visitors see. They improve the overall look of the property and could entice potential homebuyers.
It can increase your home value by almost 20 percent, but experts recommend spending only 10 to 20 percent of your current home value on landscaping improvement projects.
Avoid lavish spending on landscaping; your primary aim should be to ensure your surroundings look well-kept and maintained. If done wrong, landscaping might cause more harm than good for your property’s value.
5. Installation of energy-efficient appliances
Every homeowner will prefer to spend the least possible amount on maintenance and repairs. An energy-efficient home can help achieve this.
A home without solid insulation or drafty doors and windows will overwork the HVAC, increasing energy bills and maintenance fees.
Replace old appliances with energy-efficient models. While this may not significantly add to your home value, not replacing them could delay sales and reduce potential buyers’ offers.
Bob Andrews is a content editor for Landscape Insight, With a background in journalism, Bob brings a unique perspective to his role as he oversees the creation and publication of a wide range of content, including articles, podcasts, and videos. You can reach Bob at – [email protected] or by Our website Contact Us Page.
