Adding Value Through Home Improvement
Whether you’re planning on moving soon or would like to remain in your home for many years, it’s a good idea to increase its overall value. Resell value is not the sole purpose of wanting to add value to your home. It also helps increase your chances of refinancing at an affordable rate, while at the same time giving you additional financial security. As we learn from an early age, our homes are our most important investments. It’s vital that owners always view them this way and treat them accordingly!
A home improvement project is one of the best ways to improve the value of your home. But not any project is right for every home, since not every project will substantially increase the value of every home.
The suggestions below have been shown to be very effective in all kinds of different locations.
Building More Rooms
In matter of fact, adding rooms can increase your home’s value overnight. Simply add on an extra bathroom or bedroom. If two houses on a street are identical in almost every way, the one with more bedrooms or more bathrooms is going to be worth more. Obviously, larger homes, built for more people, are worth more.
You can create an additional room or two by building an extension directly onto your home. If there is not a safe way for you to add an extension, you can build a wall inside of one of your largest rooms to create two separate rooms. In the majority of cases this is still a value-adding renovation.
Remodel the Kitchen or Bathroom
For many buyers, kitchens and bathrooms are the thing that makes or breaks a property. Most buyers want to invest in a home with a large, airy kitchen with beautiful counters, spacious cabinets, and the most up-to-date appliances. A kitchen remodel can be expensive, but a worthy investment in the price of a home you are considering selling.
Bathrooms are the same as kitchens. Buyers want to walk in and see new bathtubs with gorgeous tile and lots of storage. The reality is that a nice bathroom can make you feel better as well. When it comes down to it, the bathroom is the one place inside your home where you can enjoy the quiet and just relax.
Update the Heating and Plumbing
When most people think of upgrades, they think of flashy renovations that can be shown off to visitors. However, it can not only dramatically boost your home’s value, but it can also minimize the chance of leaks, burst pipes and other unforeseen problems. This is something that’s particularly true if your home uses copper pipes or gas heating. There are some areas where copper pipes aren’t up to code, and there are subsidies available for updating older plumbing systems.
Other important home improvement ideas include replacing the windows, the roof, gutters and landscaping the lawn. Having said all that, there are a number of other things you could do to improve your home’s value, but the 3 main suggestions talked about above will give you the biggest increases. Whether you add rooms or renovate existing ones, your home’s value is set for a long time.
Improve your home, and improve your home’s value.