As an experienced homeowner who has completed renovations in the past, you know that any number of things can complicate the project. You could run across water damage and rot behind torn down walls or deteriorated subflooring that calls for a major overhaul prior to completing the renovation you had in mind. Because you knew these complications were a serious possibility, you cushioned your home improvement budget by about 10%.
If you didn’t experience any complications during the renovation, and you were also able to get your hands on good quality materials for a reasonable price, you may be pleasantly surprised to find you have money left over. What do you do with these leftovers: invest in another home improvement project, put it back in savings or invest it?
Investments may help you grow your nest egg, but the stock market is volatile and government bonds often have trouble keeping up with inflation. A CD savings account is a safe way to earn decent interest, but you only enjoy high interest rates if you put the money away for at least 12 months.
The truth is investing in your home might just be the safest, most rewarding option. Now that you’ve upgraded the floors, built on an addition or completed some other renovation, spend the leftovers in one of the following two savvy ways:
You’ve worked on improving the interior of your home, but what about the exterior? Texture coating is the premier exterior finish for improving home value and curb appeal. It’s far superior to paint and creates a signature look that complements any architectural style.
Texture coating also has far fewer maintenance requirements. Because it’s water resistant, possesses excellent color retention and is incredibly durable, the coating comes with a lifetime guarantee. Once you apply a texture coating to your home’s exterior, you will never have to paint it again.
This savvy way to spend your leftover home improvement budget also helps decrease energy bills, helping the investment pay for itself in the years to come. Excellent heat reflective properties help your home stay cooler, potentially lowering your bills by more than 20%.
If your windows are old or damaged, replacing them is a savvy way to spend your leftover home improvement budget. Beautiful new windows enhance both the interior and exterior of your home, allowing more light to enter and decreasing energy-wasting air leaks. Choose features such as a maintenance-free vinyl frame, energy-efficient dual-pane glass and low-e film to make the most of your investment.
To learn more about beginning these home improvement projects, please contact us online or call us at 818-483-3531.