Getting a home renovated or re-built can make it more enjoyable and increase its value. However, it’s important to remember that different projects can actually lower the sale price, or cost more than the value they add to the home. Read on to learn about some relatively simple home renovations you can do, and how to make sure they add value to your home.
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Kitchen Updates
The kitchen is one of the most important rooms in a home to update, and it can help increase the value of a property. According to a 2018 report from Remodeling Magazine, homeowners can expect to recoup up to 81.6 percent of their investment in a kitchen renovation. However, don’t go overboard. Before starting a full kitchen renovation, consider small fixes like replacing the old kitchen faucet and the old light fixtures with more energy-efficient options. Doing so can help keep the cost of the project low. You can also hire a professional to install new cabinet doors and hardware. These small things can make a big difference in the appeal of the kitchen.
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Outdoor Entertainment
Although outdoor structures such as decks and fire pits can provide homeowners with additional space and enjoyment, do they add real value to the home? In some cases, they can, but in others, they can be very expensive. A new fence can help keep kids safe and provide more privacy in your home. It can also help increase the curb appeal of the property. A deck can also make a home feel more spacious. Depending on the size, scope, and material of the project, you can expect to see a return on your investment.
A fire pit can add a cozy and functional element to your yard, and it can also help increase the value of your home. While a swimming pool can provide a great summer retreat, it can also be costly to maintain.
If you’re planning on keeping the house for the long-term and know you’ll get enjoyment out of it, it’s best to talk to the pros about what costs you might be looking at. However, if you’re looking to add value, it’s often not worth the cost or the effort.
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Curb Appeal
A well-designed and well-kept curb appeal can make a huge difference in the first impression that potential buyers make of your home. Aside from a new front door, adding a few simple upgrades can also make a huge difference.
A new front door is one of the most common home upgrades that can add value to a property. Aside from a new front door, adding a few simple upgrades can also make a huge difference. Some of these include: Restoring worn areas of the home, removing dirt buildup, and planting new trees. However, don’t go overboard with these projects. A well-kept lawn and some well-placed vegetation can also help boost the “wow” factor without breaking the bank.
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Bathroom Remodel
According to a report from the Appraisal Institute of Canada, homeowners can expect to recover up to 75% of their investment in a bathroom renovation. Aside from new flooring and fixtures, replacing an outdated vanity can also help boost the value of your home.
If you’re planning on doing a full bathroom renovation, it’s important to make sure that the project is energy efficient. Doing so can help lower your home’s energy costs and increase its resale value. One of the most important factors that you’ll want to consider when it comes to a bathroom renovation is the quality of the materials used. Aside from new flooring and fixtures, a high-quality uncoupling and waterproof system is also a must.