Home Renovations to Tackle if You Want to Add Value
Major home renovations can be costly, but they can provide your family with a more spacious and comfortable living space.
Moreover, if the improvements are well chosen, they can add value to your property. You’ll get the most return on your remodelling investment when you go big.
Renovate Your Kitchen and Bathrooms
Kitchens and bathrooms often need updating because of changing styles and advancing technology.
They are also among the most expensive renovations you can undertake since they almost always involve both plumbing and electrical work. Choosing high-end fixtures and appliances can drive up the costs even more.
Yet, from a financial standpoint, remodelling the kitchen or bathroom is the most advantageous home renovation project you can do.
According to many estimates, homeowners will recoup about 50–60 percent of the cost of kitchen and bathroom remodels through increased resale value of their house.
Finish Your Basement
A finished basement can be used for family entertainment or provide additional bedrooms for a growing family.
The renovation can require extensive work, depending on the age and condition of the home. It’s likely that walls, insulation, and flooring will have to be installed, as well as upgrades to the electric wiring.
But, a finished basement, especially one with a separate exit door, can be a valuable investment.
Adding a bathroom and small kitchen area can convert it to a flat. Basement renovations are a potential source of income if you want to rent out the space.
Fix Up the Exterior
Exterior renovations will not only raise the value of your home when you’re ready to sell the property, but you will also see immediate financial gain in lower energy bills.
Replacing old, leaky windows and doors is expensive, but adding double and triple glazed windows, along with modern frame materials such as vinyl and uPVC, can improve your home’s insulation.
Improvements in the exterior walls can also provide insulation, as well as create a more attractive curb appeal. Replacing or repairing porches, fences, railings, and pathways can also add to the value of the home.
Renovating your home should be planned with an eye toward the future.
Your home improvements should meet your present needs and accommodate growth and changes in your household. And, when planned wisely, certain renovations can boost your property’s value and when you get ready to sell, add to its resale price.