Every home needs a few repairs every now and again. It’s par for the course when you’re a homeowner. Whether you’re repairing a faulty air conditioning unit or repairing broken windows, almost every repair you make to your home has the potential to turn into an improvement. It’s all about how you make your repairs. Since many homeowners are unaware their repairs can be turned into improvements, they don’t always make the best decisions. It’s time to learn how you can take something that require repair at home and turn it into something that improve the overall value of your home. It’s what makes the real estate market go round.
In This Post:
Replacing Old Appliances
Appliances aren’t cheap, but they don’t last forever. When the fridge breaks and requires replacement, many people assume they can just go out and get a new one. They consider it a repair or a replacement, but they don’t consider it an improvement. That’s a mistake. New appliances are an improvement, and they almost always add more value to a home. Consider replacing old appliances with stainless steel appliances that are energy-efficient. They provide tax credits to homeowners, and they raise the value of your home. It’s an improvement. Buy appliances now, pay later.
Replacing Old Windows
Some homes sit for a while, especially those that are in foreclosure. It takes a long time for banks to get far enough into the foreclosure process to get homes on the market, which means they sit vacant for some time. Many of these homes are vandalized, and that includes broken windows. When you pick up a house like this for a steal, you might have to repair windows. It’s not just a repair. It’s an improvement if you choose energy-efficient windows as a replacement, and add them all over the house. They’re money-savers, and they’re worth a tax credit.
Replacing Broken Fixtures
Here’s where it’s difficult to tell whether or not your repair is an improvement to your home. Your faucets are old and dated, and they’re leaking. It’s time to get rid of them and replace them with something newer and more efficient. It’s an improvement. You might be surprised just how much of a difference it makes in a home to replace old, standard fixtures with something a bit more upgraded. It’s not a huge expense, either. Consider getting rid of anything that looks like a dated builder’s special with something a bit more custom, and suddenly your light fixtures become an upgrade.
New HVAC Systems
Ideally, your home warranty covers the cost of repairs to items such as your HVAC, but it’s not always the case. When your HVAC unit is finally done, it’s time to get a new one. You can use your warranty to replace it or repair it, but it becomes an improvement when you update your HVAC to one that is more energy-efficient. It might be necessary to make this repair, but it adds value to your home by offering big savings.
Floors don’t last forever in many homes. When you buy a home with carpet or dated tiles, you might eventually have to replace them. By adding wood floors, travertine, tile or another hard surface, you’re just replacing old, dirty, broken flooring in your mind. In the minds of potential future buyers, however, you’re making your home more valuable. They’d rather have a house with hardwood than carpet in most instances, so your repair just became an improvement.
Don’t make any repairs to your home without understanding how they can become an improvement. Improvements add value to the home, and sometimes they’re disguised as simple repairs in areas you never realized have an effect on the value of your home. The housing market is complex, and you want to add the most possible value to your home. Even simple repairs have the potential to turn into big bucks when you sell, but only if you handle them the right way.