Upgrades That Increase Home Value
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. The following remodel ideas below will help you decide what renovations will increase the value of your home.
Upgrades That Increase Home Value
You might be wondering how you can increase the value of your home before you put it on the market. You don’t want to spend unnecessary money on frivolous upgrades—so where do you start? Renovations have the ability to make us happier in the places we call home, but some updates can actually add more value than others when it’s time to sell or refinance. Although, some of the best home improvements like an updated kitchen, new deck or remodelled bathroom can get pricey. That’s why it’s helpful to know what kind of return you might expect before you decide to take on a remodelling project.
Updating your kitchen is the best way to increase the value of your home. The kitchen is the focal point for many households – and this is often the first room prospective buyers want to see. Creating a modern-looking and functional kitchen can add more than just value to your home; it can boost your enjoyment of everyday activities like cooking, entertaining friends and sharing meals with your family. There are many kitchen features that are trending right now, such as wine refrigerators, drawer-style microwaves and dishwashers, commercial-style ranges, and hidden outlets.
An updated bathroom is a major selling point for any home. When renovating, incorporate sleek surfaces for a sparkling space. If a home has only one bathroom or at most a one and a half bathroom, adding a shower to a half bath, or adding a half bath to a living area for guests immediately improves the appraised value of a home. If you can budget for it, and there is a sensible space available in your home to do so, adding an additional bathroom will take you even further! If not, pay attention to the smaller details of your bathroom such as handles, light fixtures and tiling.
Update Your Home’s HVAC
Your home’s heating, ventilation, and air conditioning (HVAC) are the components that keep your home operating. These are some of the most critical items in your home to maintain. Buyers are often taken aback when upon inspection, a home’s heater, air conditioner, and roof, are found to be old or in poor shape. Studies have shown that millennials are unwilling to overlook old mechanicals, even if the seller is offering a home warranty to compensate for the age of these systems.
Nothing beats the option of entertaining outdoors. An outdoor living space will make your home a relaxing destination for get-togethers and add major value. No matter your budget, there are plenty of ways to update your backyard, porch, or patio. A screened-in porch or backyard patio, especially one that includes an outdoor kitchen with a built-in grill and small fridge, makes a wonderful additional entertaining area.
Finishing Your Basement
Finishing a basement is not an easy task, but potential buyers consider the useable square footage of a home when shopping. A finished basement is an investment that can add a lot of value to your home, but you will want to make sure that you’ve insulated properly and protected against moisture. Also, an unfinished basement with insufficient insulation allows air to escape. The added insulation provided by a finished basement will help to regulate the temperature and reduce the energy needed to cool or heat your home.
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