Renovations can add substantial value to your home. Small upgrades such as granite counter tops, stainless steel appliances and updated bathrooms create a home more appealing to buyers and stand out in the real estate market. Large-scale remodeling can seriously increase the home’s value. Not all upgrades add value to your home, nevertheless.
According to”Home Remodeling” magazine, a remodeled kitchen may add 80 to 100% of its price into the value of the home. That means a kitchen renovation costing $20,000 will include $16,000 to $20,000 to your home’s value. A home that has been appraised at $200,000 could now be worth $220,000. Kitchen renovations include things like brand new counters, wiring, lighting , custom cabinets and state-of-the-line appliances.
New siding positions as HGTV’s number-one update to add value to your home. Old and faded or cracked siding severely damages curb appeal and lumps a home into the”fixer upper” category. When potential buyers see a busted and unappealing exterior, they will not expect far more from the interior. Siding boosts curb appeal. Refreshing the lawn with new shrubs and flowers also adds curb appeal and makes your home more marketable.
According to”Home Remodeling” magazine, bathrooms are just another opportunity to improve home value. Bathroom renovations include 80 to 115 percent of the prices into the home’s value. On a $200,000 home, $10,000 in toilet improvements could increase the home’s value to $210,000 or more. When upgrading a toilet, a homeowner can replace fittings and fixtures, retile the floor and put into a large soaking tub. Adding another bathroom to a residence is a great wager, having a 100 percent or more pay off price. According to HGTV.com, toilet improvements don’t have to be costly to add value to your home. Things as straightforward as replacing a dated tub, tile or toilet do wonders. Freshening living room with new linens and lighting fittings also adds instant allure.
Insulation does not do anything for a house’s visual appeal, but it does much to enhance your home’s energy-efficiency. According to Planet Green, home improvements that boost a home’s efficiency yield 250 percent in their initial investment. Installing efficient heating and cooling system is very good for the environment as well as a home’s value. Geothermal heat pumps and solar heating are green improvements that make a home stand out from others in the marketplace.
Increase Living Space
Adding a deck or a sunroom instantly increases living space and adds value to your home. According to HGTV, homeowners who add a deck to their home can expect to recoup 76 percent of the investment when they market the property. Turning the attic into a bedroom complete, with windows, lighting and custom seating, also increases living area and makes a home more desirable to potential buyers.