When it comes to home renovations, the money that you put in cannot always be recouped when it comes time to sell. Most people want to get the best value for their dollar when doing home renovations and there are some important things to keep in mind. Before you decide on a remodel, consider the cost versus the value, and decide if the remodel you want to do is a worthy investment. Ultimately, you want to improve your home and then when it comes time to sell, you can command a higher price. The following remodel ideas may help you add some value to your home.
1. Increase Light and Space
Dark, cramped rooms are no good when it comes to real estate. One thing that homeowners can do to increase the appeal of their property is open up the house to create more of a flow and enhance natural light. Consider knocking down some walls to brighten up a space. An open floor plan will also make a home feel much larger and is better for entertaining. Perhaps you’ve wanted to do this for years, but worried about the cost. It’s time to answer the question, how much does it cost to knock down a wall?
Vaulted ceilings are another idea that can help create the illusion of more space. Skylights can help flood your home in natural light. There are several options when it comes to brightening up your home with natural light and these options have a range of prices.
2. Landscape & Curb Appeal
The curb appeal of your home is incredibly important when it comes time to sell. The first impression of a home that someone will have is from the look of the exterior. It is said that a good first impression of a home can add five percent to its value. Make sure your exterior paint and details are up to par. The driveway should be paved properly, and any lawn space should be properly maintained. Consider drought tolerant plants if you are not great at gardening. If you have a deck, add some nice furniture, or create a colourful garden in some extra space.
3. Create a Home Office
With more companies giving employees the option to telecommute, a home office can really add some value to a home. If you have some extra space in your home, consider converting it into a home office. Make sure there is plenty of work space, and remember to have grounded outlets installed as well as data ports and possibly an extra phone line.
4. Consider Adding a Deck
It has been determined that when you spend the money to add a deck onto your home, you will likely be able to recoup more than eighty percent of its cost at sale time. If you choose to install a deck, take some time to plan it out and come up with unique features such as built in benches or a fire pit if your city or town allows them. Use higher grade materials to increase the life of the deck.
5. Finish Your Basement
If you don’t have enough space to add a room to your home, consider finishing your basement. A basement space can easily be turned into a playroom for the kids, a bar, or media room, relatively easily. Consider adding a bathroom if you do remodel the basement, as this can increase the value of the remodel even more. Try to keep the space as open as possible so it does not feel dark and cramped.
6. Update or Add Bathrooms
Bathrooms are an important part of a home. If there are not enough bathrooms or if they are very outdated, it will be a big turn off to potential buyers. Updating bathroom amenities and fixtures or adding an additional bathroom if you have the space can really increase a home’s sale appeal.
7. Update Your Kitchen
Kitchen remodels can really add value to your home but it is also important to be careful. When planning a kitchen remodel it is really important to consider the cost of your materials versus the value. Based on the cost of your home, if you choose to install granite or marble counter tops, will you be able to recoup that money? Take a close look at costs when remodelling kitchens. Things such as updated appliances or a window over the sink can add a lot of appeal.
There are tons of different projects that can be done around the home to increase value in addition to the ones listed here. As long as you take the time to really plan accordingly, and don’t overspend, you can make some really nice upgrades to your home.