Home Renovations That Will Increase a Property’s Value
You may not be interested in moving, but you can still benefit greatly from making some smart renovations to your home. There are reasons to improve a home that go beyond resale value. Increasing your homes value will also increase the amount of collateral you have, and can help you to get better options for refinancing. A house is likely the biggest and best investment an average person makes in their life. It is for that reason that you should take good care of it.
The best way to increase a home’s value is through renovations. However, you will need to know which projects will improve the appearance and value of the home the most.
The suggestions below have been shown to be very effective in all kinds of different locations.
If you’re interested in seeing the value of your home go up instantly, there’s a simple thing you can do. Adding one is a great idea. When two houses are close to identical, the one that has more rooms is always going to have the highest value. Obviously, larger homes, built for more people, are worth more.
Many people add rooms by building an extension onto a property. However, if there isn’t room for an extension, another way to add more rooms is by making two smaller rooms out of one large room. Having more rooms after a split like this will still make a home worth more.
Modernizing Your Kitchen And Bathrooms
For potential buyers, the bathrooms and kitchen can either break or make a deal. The preferred kitchen layout today is an open plan style featuring granite countertops and new stainless steel appliances. A kitchen remodel can be quite expensive, but the appeal it can add to a home on the market is exponential.
Another potentially tricky area are the bathrooms. These days, it’s important for buyers to see plenty of storage space, his and her matching sinks, claw-foot tubs and even jetted tubs. A well done bathroom will also help to increase your happiness. A brand new bathroom is sure to improve the quality of living in the home right now.
Making Plumbing And Heating Adjustments
Putting money plumbing and heating isn’t as exciting as putting money into a flashy new kitchen. Updating the heating and plumbing in your home will definitely increase its resale value. It will also prevent future disasters and leaks. Some old homes may have copper pipes or gas heating that will be in great need of an upgrade. There are some areas where copper pipes aren’t up to code, and there are subsidies available for updating older plumbing systems.
Other smaller updates that you can do include landscaping your yard and replacing your gutters, windows and roof. Basically any home improvement project increases the value of a home, but these ideas specifically give the best bang for your renovation buck. Whether you decide to build additional rooms, make adjustments to the plumbing, renovate your kitchen and any bathrooms on the property, or even make small changes, you will be able to improve the look of your while increasing its value.
Best wishes on your home improvement projects, and hopefully they will allow you to make your home even more valuable.