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These Long-Term Home Investments Will Make All The Difference

Millennial Magazine - long-term-home-investments

It’s easy to see our homes as static entities, because as we look around them, we see them for what they are now, or what they are this year, as opposed to what they may look like in ten years’ time. Of course, that’s not always the case, as those who structure renovations or think about their future moving into a property will have to consider where they’ll be, but right now, it can be hard to plan that perfectly.

For this reason, it’s a good idea to consider what home investments will have the most staying power and will help resolve problems as you integrate them now. This way, you can ensure your home is provided for from now into the future, as well as calculate the budget of your investments going forward in regards to how much value they’re likely to return. After all, home utility, safety, structural integrity and value are all essential metrics we hope to improve. In this post, we hope to encourage eight home investments that can make this difference more pronounced. Without further ado, let’s begin:

1. Window Replacements

Window replacements are a great way to make sure that your property looks great from the inside and the outside. This can not only increase your curb appeal, but the structural integrity and safety of your home. Window replacement can also provide you with a great means of making the most out of a space, be that renovating the side of a wall in order to make room for bay windows, or making sure open panel windows are installed to let more light in.

This can also run alongside a few other aesthetic and utility upgrades, such as making sure that our windowsills are painted similar to one another, as well as providing us space for exterior flower hanging baskets. Windows may be installed in a property for decades before renovation takes place, and so a good effort now may be the one and only time you renovate this while living in that property.

2. Driveways & Materials

Many homeowners understand that driveways tend to degrade over time. Every five years (or even sooner than that), homeowners decide to fix the driveways by replenishing the tarmac or refitting the brickwork that may have been implanting for its own unique aesthetic.

The truth is that investing in a thoroughly renovated driveway environment may help you implement the aesthetic you’re truly looking for, while giving you that longevity you need. This way, even continual use from a range of vehicles are unlikely to damage the driveway space, alongside this improvement being able to withstand the weather.

Resin driveways are among the most popular method for those looking to the future. This sealed driveway material not only looks great, but gives you the chance to implement your own design. Resin epoxy driveways are also less likely to crumble at the sides as other driveways, like those using tarmac, can. If you’re willing to spend more on your driveway now, odds are you’ll have to maintain it less as time goes on.

3. Foundation Repair

Subsidence or sunken concrete can be a real issue for a home, denoting that the foundations are starting to give way or move over time. This can be a problem and render some houses inevitable. Thankfully, with enough renovation investment, this can be repaired provided you catch it early.

If you notice cracks in the walls that seem to grow, or perhaps your garden is sliding, or a driveway doesn’t seem to be as structurally sound as it might have been, then using a professional service to help you here can be tremendously worthwhile. It might just be that investment now can save you an expensive error down the road.

4. Renovating Within Limits

Perhaps not a direct investment of a budget, but certainly an investment in your time and willingness to learn, is that of understanding the local building limits in your area. It’s not uncommon for certain housing authorities to place limits on areas of construction depending on where you live.

For instance, living in the midst of a rural location may fall under legislation which limits new builds based on the area being protected for its natural beauty. This means that housing developers can’t come in and purchase land to turn into a large swathe of properties, which you are no doubt grateful for. That said, this legislation can also apply to you, such as preventing you from extending your house or building an exterior property on your land. For that reason, it’s best to contact the housing authority in your local area in order to see what these parameters actually involve.

This way, any major renovations or construction efforts need not be dashed before they begin, but you may be able to find exactly where you can commit to small additions here and there without breaking the law. That in itself is a worthwhile effort, for obvious reasons.

5. Outhouses & Exterior Buildings

If you do have the ability to construct on your property, such as in your garden, then building an outhouse, exterior building, or perhaps a barn can be worthwhile. Maybe this can provide an additional exterior wing to your home where you’ll cultivate a home office, a spare bedroom, and a bathroom for any guest who may wish to stay.

As you can see, sometimes your renovation might can be applied to constructing new property as opposed to changing your own. Often, properties with outbuildings are considered very valuable and useful, which can skyrocket the financial worth of your property portfolio. But as you live there, this can provide your friends, family or even growing children on the cusp of leaving the nest with an additional provision you could use for years. 

6. Converting Spaces

Might it be that you already have a space in your home that you could convert into another functionality? For instance, it’s not uncommon for people to find worth in converting their attic space into a bedroom or a home office. 

If your children are starting to fly the nest, then it might be you wish to renovate their old bedrooms so you can use that space for a home gym, or a home office, or another bathroom, or even just a guest bedroom. Maybe you realize that your garage has been used as something of a storage shed as of late (this isn’t that uncommon), but you’d like to restore its function as a place you can actually use to lock away your car and save money on your insurance as a consequence. 

All this can work wonders, as converting a room is perhaps the best foundational place to start when beginning renovations for the first time.

7. Safety Provisions

Making a home more valuable and aesthetically pleasing is, of course, a good purpose to have. But even more important than this is making a property safer to live in. Replacing the windows and doors with stronger, reinforced options can be a good place to start, quite obviously.

But then it can also be that renovating a new home with safety in mind, such as replacing a staircase with steps that are too steep and may be harder to climb as you age, or taking out odd quirks that the previous property owner felt were essential (but were really quite dangerous, such as a staircase without a banner in a family room), can be a great use of your time.

Ultimately, you have to consider what kind of safety features you feel would be worthwhile in your home. Another supporting wall could count as this even, especially if you’re renovating your property. Perhaps an additional fire exit route can work for you, too. If you do always keep your safety in mind, you’ll be much less likely to stumble upon a nasty surprise later on.

8. A Full Land Survey

It’s good to commit to a full land survey after moving into the property, as well as periodically through your ownership period. This can help you identify how structurally sound elements of the land are, exactly, up to the exact border point, where your land ends and begins (this is important in open rural areas).

A full land survey may also help you more easily plan out issues that can prevent your further renovation, such as an oil line that runs under your house, or where sewage structures need to be kept in mind. All of this can make quite the difference, and for the reasonable cost of a land survey, could help you avoid making mistakes.

With this advice, we hope you can invest in your home not only for now, but with the future in mind, too. This way, it’s sure to retain its structural strength, design relevance and value over time. This can be useful for those who simply wish to make their family home a nicer and more worthwhile place to be in, or those who care about the resale value for the near future most of all. We wish you luck in all of your plans.

What do you think?

Written by JD Heisenberg

JD Heisenberg is a writer/journalist for Millennial Magazine and other blog sites, covering stories relating to stocks, investments and Tech start-ups. When he is not researching the latest IPOs and corporate earnings, he is hiking the hills with Max, his loyal German Shepherd.

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