Adding Value Through Home Improvement
Even if you don’t plan to sell your house for another 10 or 20 years, you are bound to still want to find effective ways of adding value to the property. There are plenty of reasons to do this beyond just increasing the value for resell. Adding value to your home means better collateral and more options in refinancing. When children are young, they are taught that houses are the most important investments. 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, it’s not feasible to just do anything to a residence and then assume the automatically go through the roof!
The suggestions below have been shown to be very effective in all kinds of different locations.
Are you interested in quickly increasing property value? Add a bathroom or bedroom. Incontrovertibly, the value of two identical houses would have a sharp difference simply because one house has 3 bedrooms and the other has 2 bedrooms. This is due to the fact that larger homes can house more people, so they will cost more to purchase.
Rooms can easily be added to the home as an extension. You can add the room onto the existing dwelling, or you can divide a large room into two separate ones. In the majority of cases this is still a value-adding renovation.
Kitchen and Bathroom Remodel
Often for potential buyers it’s the kitchen and or bathroom that will sell the house. Wide and open kitchens have become quite fashionable in recent years. Of course, a kitchen makeover is an expensive project, but it makes a home much more valuable and appealing to buyers.
Another tricky room is the bathroom. 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 renovated bathroom is something you’ll also get a lot of enjoyment out of. A brand new bathroom is sure to improve the quality of living in the home right now.
Update the Heating and Plumbing
It may not be glamorous and there may not be much to show off to friends, but it’s worth it. However, it is something that would help you increase the total amount of money your home is worth while protecting it from leaks and water damage. For older homes, an update is especially important since most have older parts, like copper pipes, or use gas for heating. There are some areas where copper pipes aren’t up to code, and there are subsidies available for updating older plumbing systems.
There are also smaller projects that still add value; these include getting new windows and doors, replacing the roof or gutters, or having the lawn landscaped. Just about any home improvement can increase the value of a home, but the most important three we discussed are the ones that offer the biggest bang for your hard earned money. Whether you add rooms or renovate existing ones, your home’s value is set for a long time.
Best wishes on your home improvement projects, and hopefully they will allow you to make your home even more valuable.