Home remodeling projects can add to your home’s value, and more value is added by a few projects than others. Basically, remodeling projects that add value are such that others perceive as valuable and will cover when you sell the home. Home remodeling projects also enhance the livability of a home and can add style, design, and relaxation for you.
The kitchen is often the most used room in the house. Fixing it not only will raise the value of your home, but it also will make cooking inside it more pleasurable. Kitchen remodeling may be simple or extensive, depending on your budget. Old, broken cupboard doors could be substituted with fresh ones or just painted. Appliance upgrades, notably to Energy Star appliances, will add value to your home and save the owner money. New floors can make a difference in the kitchen as well, and you can replace laminate counter tops with fresh ones or upgrade to granite or tile. But if you put in a heavier counter, you may need reinforced cabinets to handle the weight.
Remodeling a bathroom or adding a fresh one will increase a house 's value. If your home has only one bathroom, putting in another will surely enhance the value, even though the job is more expensive than remodeling an present bathroom. Apart from adding value to your home, having more than one bathroom increases the capacity to market the home, plus a shorter time on the market translates to saving money. According to Hanley-Wood study data for 2008 and 2009, a bathroom remodeling returned more than 70% of the investment in the Bay region after the home was sold.
Windows are one of the greatest investments homeowners can make, especially if their old windows escape or are otherwise not energy efficient. Since windows accounts for substantial heat gain and reduction in houses, you'll regain the investment through energy savings.
Painting the outside of your home may not raise its value substantially, but for example bathroom remodeling, the perceived value of the home will grow because it will add curb appeal. New siding, nevertheless, has a positive impact on the value of the home. According to the Hanley-Wood study, home sellers who remodeled the outside with timber siding received an 81 percent payback on their investment, whereas sellers who substituted the siding with concrete fiber siding received 87 percent back in their investment when they sold.
New flooring may not add substantially to the value of a home, but using worn carpets makes it harder to sell a home. Some homeowners and real estate agents believe that when the flooring needs to be replaced, it's a better to use the floors as a negotiating strategy to reduce the selling cost of the home. New flooring may also enhance the beauty of the home even if the owners have no intention of selling in the not too distant future.
Wood decks added more value to the home than bedroom additions, as stated by the Hanley-Wood study, which found that the payback on including a deck was 82 percent, compared to 66 percent for adding a bedroom. The cost of including a deck is about one-third less expensive than adding a bedroom.