With a recession hot on our trail, you don’t have to worry about your home’s value; instead, here are multiple small projects that can help.
Recessions are nothing new to today’s generations. However, the current state of the economy is difficult to categorize for both economic experts and novices alike. Specifically, are we currently in a recession or not? The question arose after the United States economy contracted in back-to-back quarters to begin the year, which is how recessions are typically defined. Nonetheless, the organization that officially declares whether and when recessions occur has yet to do so. With this in mind, you might be wondering how the current economic situation affects the home improvement market. Is it a good time for me to renovate my house? Are there ways to prevent the value from depreciating, even during a recession? Both are great questions and yes, you can improve your home now and even during a recession. We’ve found six small projects you can complete to increase your home’s value during tough economical times.
Complete these small projects below.
Start with the Small Fixes
Home improvement projects do not always have to be large in scope. Repairing things like wall cracks, faded paint and dirty siding can improve the appearance and feel of your home. When you list your home for sale, it should appear as if it is ready to welcome a new family as soon as possible. These improvements will improve the functionality of a home. It will also result in better offers. If you want to revitalize the look of your home, focus on small details that stand out. Replace drab drawer pulls with more vibrant ones, or repaint the exterior. You can also install a new showerhead to save even more water. When you make a decision, the sky is the limit. To make it even better, Valor Home Services home repair technicians are available to help. We even have block discounted packages that never expire. So, if you purchase one of our hourly packages and don’t use all the hours, you can save them for later projects.
Finish the Basement
While these projects are definitely more expensive, finishing an attic or basement is a great idea if the state of the economy has forced you to renovate rather than move. A project like this will not only increase the functionality and livable space in your home, but it will also typically have a high ROI (sources estimate the ROI for finishing a basement is between 70% and 75%). And Valor Home Services is the top stress-free basement finishers in your area. Contact our team today to book a FREE phone consultation.
Update the Kitchen
You don’t have to replace your kitchen to increase the value of your home. If you have a limited budget, consider replacing cupboard door handles with more modern ones and painting the cabinet doors. Good lighting will also make a difference in this room, so consider installing LED strip lights beneath kitchen cabinets to add a premium and modern look that prospective buyers may be looking for. For all these minor kitchen updates, our small projects team can help. For full remodels, our carpentry and remodeling team is ready to assist.
Improve the Heating Situation
It is costly to maintain a poorly insulated home. And unquestionably more expensive than homes with proper insulation because the former may be flagged as a problem by home inspectors. Heating is essential in any modern home. Leaving your insulation as is without cleaning the dirt and debris buildup will not attract the attention of a buyer looking for a new home. An upgraded insulation system will save you a significant amount of money in the long run. You won’t have to keep paying for heating appliances. Better insulation can also protect residents from catching a cold or the flu. When winter arrives, replace doors and windows and check for cold drafts. A thermal leak detector can also be used to locate leaks by detecting cold spots in a heated room.
Repurpose an Existing Room
When you decide to sell your home, adding more space can increase its value. However, adding an extension is often expensive and time-consuming, and with all of the deliveries and strangers coming and going, the situation can quickly become unsafe. Not to mention the uncertainty surrounding time frames — no matter how secure your plans and schedules are, you can’t predict when things will go wrong and deadlines will be missed. So, how does one go about expanding their property? A pre-existing space can always be converted. Work with the space you have now and see if there are any spare areas you can repurpose. Do you have a spare room? It can be converted into a study or a guest bedroom. If you want to go the extra mile, you could even turn your basement into a cozy den or entertainment room. Your imagination is essential here, so have some fun with it. Our team is happy to help walk you through any ideas you may have.
Update the Bathroom
A new bathroom can increase the value of your home by up to 5%, but thankfully, you don’t need to spend a fortune on a new suite because a thorough cleaning and refresh is all that’s required. Regrouting and removing all limescale can work wonders, as can adding a touch of neutral paint to the walls. Small changes such as fresh, fluffy towels, good lighting, a nice-smelling candle and a plant can make a bathroom look and feel more luxurious without spending a lot of money. For smaller bathroom upgrades, our small projects team has you covered, while our remodeling team can help with any larger projects.
Home improvement projects are always a good idea, whether or not you plan to sell your home soon. Repairing broken tiles or repainting the exterior walls can greatly improve the visual appeal of your home and make it feel more comfortable in the long run. Improving the value of your home life should not be prohibitively expensive, especially in the midst of a global crisis. Whether economic times are great or tough, Valor Home Services is happy to help. For more information or to book an appointment, give our team a call today.