Adding Value to a Home with Improvement Projects
Dreaming of ways to increase how much your property is worth, despite knowing you're probably going to stay there for another 10 to 20 years? Improving the value of a home is about more than improving resale value.
It is also about having better collateral and obtaining better refinancing options. When we're young, we're often told that our home will be the most important investment we ever make. Start treating your home like it is your greatest investment by making improvements to it.
A home improvement project is one of the best ways to enhance the value of your home. However, you will need to know which projects will improve the appearance and value of the home the most.
Below are projects that have withstood time for owners who would like to have a higher value for your there, regardless of their location.
If you wish to see your home's value increase right away, add on a room or two. Simply add an extra bedroom or even a bath. There may be two homes on your street, and they could be exactly alike, but the one with the extra room/rooms is going to be worth more. Homes with more rooms accommodate more people, and offer more space, so they are naturally worth more.
Adding the rooms as extensions to your home is one way of doing this. If there is insufficient room at your property however, you could think about splitting one larger room to make two smaller rooms. Even if you can only add a wall, you will still be able to increase your home's value.
Remodel The Kitchen And All Bathrooms
For most potential buyers, the bathrooms and kitchen can make or break the deal. The majority of people these days are looking for open plan kitchen spaces with granite counter tops, stainless steel appliances and new cabinets. A kitchen remodel can be quite expensive, but the appeal it can add to a home on the market is exponential.
Bathrooms are also something buyers give a lot of consideration to. Most people shopping for a home look at how much space is available in the bathroom and for specialized plumbing, such as jet powered showers. Any contractor will tell you that the right bathroom renovation will not only add value but it will also add to your own enjoyment. That makes sense, considering a lot of time each day is spent in the bathroom!
Upgrade Plumbing And Heating Systems
You can't show this off to your friends and nor is it glamorous. Updating the plumbing as well as the heating definitely increases the value of a home and also can prevent disasters such as leaks. These updates are especially important if you have an older home with gas heating or copper pipes. Copper pipes are illegal in some areas, which means you might be eligible for a subsidy you can use to update your old plumbing.
Outdoor improvements such as adding a new roof, upgrading your gutters, replacing your windows or improving your home's curb appeal can also add to the value of your home. Just about any type of home improvement will increase your property's value, but the suggestions listed above provide the biggest bang for the buck. Adding rooms, renovating the kitchen or bathrooms, or updating the utilities will add value and enjoyment in a home for years to come.
Best wishes on your home improvement projects, and hopefully they will allow you to make your home even more valuable.