Home Renovations to Raise the Value of Your Home

How’s your self-isolation going? Knocking things off your long-awaited to-do list? Any home improvement things to do? There are so many projects you can do yourself to help increase the value of your home. If you feel like you’re not handy enough, no worries. If you feel comfortable you can seek out a contractor as they still are able to work due to their essential business. By working on these projects now, you can enjoy the benefits and updates. If you make green upgrades, then you can also start recouping your investment in these green energy technologies once you complete the projects.

Some home improvement projects that add value to a home include:

• Remodeling the Kitchen

Most people consider the kitchen to be the heart of the home, and because of this, updates in this room pay off. Remember to not go too overboard that it makes the rest of the house outdated. 

• A Little Paint Goes a Long Way

When it comes to how much you spend on a kitchen remodel, prices can run the gamut, from $1,000 (if you do very minor DIY changes) to $75,000, or more. Get the biggest bang for your buck on a kitchen remodel by looking at color. Fresh paint, in modern colors, can go a long way towards updating the look of your kitchen. Plus, paint is relatively cheap.

Energy-Efficient Appliances

Replace old appliances with energy-efficient models. Energy Star-rated appliances are better for the environment, and they also help you save money, because they use less energy. Potential buyers often look for ways to save money when shopping for a new home.

• Bathroom Addition

If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. We recommend contracting out for this type of job, unless you’re doing simple renovations to an existing bathroom (ie, painting vanity, replacing floor, painting, etc).

When it comes to finding room in your house for an extra bathroom, take a look at any extra rooms or underutilized spaces. Consider other spaces, such as closets or areas under the stairs, too. If you want a half-bath you need at least 18 square feet. If you want a full bath, including a stand-up shower, you need at least 30 square feet. If you want a bathtub, make sure you have at least 35 square feet to work with for a bathroom addition. 

• Reinventing a Room

Reinvent the existing space in your home to save money. Finish a basement, or convert the attic to a bedroom. Many homeowners can also add small apartments in, or over, their garages – which they can then rent out as a room.

Before you demolish walls and rafters, try to think about the ways that you, and potential buyers, can use the space:

• Versatile rooms have greater appeal to potential buyers.
• Basements frequently work well as second living rooms, or game rooms. Many people also turn this space into a small apartment for an aging relative or a tenant.
• Attic spaces often work well for craft rooms and game rooms, especially if they have high ceilings. If you have kids, you can add swings to the rafters, and create a cool playroom just for them.

• Deck Addition

Adding a deck increases the value of your home. Outdoor living spaces have become more desirable, especially since more people stay home for vacation. If you make your deck and your backyard more appealing, your house will be more appealing to prospective buyers when you decide to sell. 

The cost of adding a deck to your home varies widely. Everything depends on its size, and how many bells and whistles you want added, like built-in seating, multiple stairs, built-in flower pots, and the size of the deck. Decks can cost anywhere from $1,200 to $10,000, or more. Again, it all depends on the design and materials used.

As you might guess, you can save a huge chunk of the cost, usually half, by doing the work yourself. Keep in mind, however, that deck construction isn’t easy. You need specific tools, such as a bandsaw, and the cost of the tools can be very expensive, especially if you don’t plan to use them again..

• Basic Updates

Basic updates add the most value to your home. Keep the paint fresh, fix the roof when it leaks, replace wood that rots, and get rid of any mold that you find. These types of chores keep your home from deteriorating over time. Buyers want a healthy, solid, safe home, and they look carefully for signs of routine maintenance.