5 Home Remodeling Projects Guaranteed to Increase Your Home's Value
Once you decide to take on a project to modify your home, you're investing in both the present and the future of the structure. Having said that, it's critical to understand that not all renovation projects will yield an identical return on investment in terms of a home's potential for resale.
If you are planning to stay in your house for many years rather than sell it soon, your objectives may be completely different. If you want to rebuild the space to function well for you and your family both now and in the future, you may easily plan a remodel around your personal preferences for style, design, and family size. However, if you intend to relocate and sell your home, your objective can be to limit your home improvements to those that will raise the value of your house.
Depending on the amount of labor necessary, home modifications may cost anywhere from a few hundred dollars for something as simple as repainting some walls to thousands of dollars for larger-scale projects like a bathroom remodel. Use your renovation budget wisely by completing these 5 improvements, which will improve the aesthetic appeal and market value of your property.
These 5 remodeling projects will raise the resale value of your home.
1. Kitchen Renovation
The center of the home has always been the kitchen, and it still is. Kitchens serve a range of purposes and can see a lot of activity every day, including meal preparation, eat-in dining, entertainment, and more. If you haven't updated your kitchen recently, there's a high chance it's outdated and may be in need of a facelift. Additionally, if it's small or crowded, structural adjustments might be necessary.
The kitchen is frequently regarded as the most significant space in a home. This implies that when you place your house on the market, a new-looking kitchen might make a big difference in it’s value.
According to Houzz's annual Kitchen Trends Report, the most popular partial kitchen remodel is cabinet refinishing. It's also inexpensive to do on your own, costing as little as $300 depending on the type of paint you choose and the supplies you buy. However, keep in mind that refinishing kitchen cabinets takes time. Before you clean, sand, paint, and finally reinstall the cabinets, you must first remove them, as well as any knobs and hardware.. Adding an excellent tile backsplash, replacing the flooring, installing custom cabinet storage solutions, and purchasing energy-efficient appliances can all significantly increase resale value while also making the area more attractive and useful.
Making structural changes to increase the square footage of the room or changing the layout might cost significantly more money. In other cases, a less expensive option, like knocking down an interior wall, can expand the room's usable area and offer up new design possibilities without incurring the additional cost of relocating outer walls.
2. Repairs before Expansion
First, make repairs. Prioritize these types of repairs before starting other improvements if your roof leaks, your plumbing is broken, or your home has safety issues.
After all repairs have been made, revamping or expansion can be considered. Even though room additions include changing your home's siding, shifting external walls and windows, and altering its foundation and roofing, they can nevertheless increase the value of your property when you decide to sell it. Simply make sure you collaborate with a knowledgeable contractor to ensure that the extra space is planned and constructed effectively to reduce costs and maximize usefulness.
3. Increasing Curb Appeal
Most likely, you have learned your entire life not to "judge a book by its cover." But we all engage in it, whether it's making snap judgments about people based on their attire or choosing which restaurant entree to eat.
The same is true of real estate; our desire to enter a property is frequently influenced by how it seems from the outside. It doesn't matter one bit whether your home has the most impeccable inside, the finest materials, and the most perfect craftsmanship if the exterior is unattractive.
This is particularly true nowadays, when a lot of prospective buyers start their search for a property online. If you want your home to be on their list of properties to view in person, you need to make a fantastic first impression.
The expense of improving curb appeal can be painting your property and trimming back overgrown bushes. Alternatively, they could be more substantial, such as dormers, a porch, or the replacement of old windows. Again, dependent on the location of your property, consulting with a skilled remodeling contractor can help you pinpoint precisely which curb appeal projects can offer the most market value.
Major tip: Recognize what trends are in and which are out, especially if they are trends that prove to be inefficient. Builders are aware of the preferences of prospective homeowners.
To help you prioritize your own changes so you can compete with newly constructed homes when you sell, look at new homes online and visit model homes in your neighborhood. You may check if the new flooring you've picked is trendy by keeping up with current fashion (or on its way out).
4. Master Bedroom
Let's be honest: The modern home is more than just a place to sleep and enjoy your favorite show. Many home owners see their residence as a personal haven where they can unwind, get away from it all, and create something that is truly their own. The master suite is the only room in the house that can fulfill all of those personal requirements.
For instance, remodeling the master bathroom can give your home an opulent, spa-like feel. Additionally, updating the master bedroom creates a relaxing environment for you to unwind in after a long day. This is one renovation project that will definitely increase resale value, whether you currently have a master suite and it just needs upgrading or you want to add one entirely.
5. Bathroom Renovation
It's worthwhile to look at the other bathrooms in your house in addition to the master bathroom. If you have a restricted budget for renovating, start with the master bathroom before moving on to the guest bathroom, powder room, and any other secondary bathrooms. You'll save money by making cosmetic adjustments rather than structural ones wherever possible.
The possibilities for installing distinctive tile patterns in showers, tub areas, or as a backsplash over the sink are virtually endless. Bold veining on quartz stone countertops adds visual interest and gives the material a more opulent appearance. Additionally, storage options from bespoke cabinets may make even the smallest bathrooms appear larger. Working with a qualified bathroom designer will help you understand precisely what components and features to include in your renovation for the most resale value.
Keep in mind, it is crucial to focus on renovations that will appeal to purchasers when they view online or in-person photos of your home if you want to increase the selling value of your house. Attic insulation doesn't add as much aesthetic appeal as a renovated kitchen, which purchasers are less likely to notice.
Our suggestion is that you do extensive research before seriously taking on any remodeling projects. When you sell your property, purchasers won't evaluate it against regional or national averages in the US. They will contrast your house with comparable ones that are currently on the market in your area. Free information concerning the "comps" in your area can be obtained
from local real estate brokers. It might make sense to give your home the same priority if all of them have new siding.
Did you know? The Cost vs. Value Report, published yearly by Renovation magazine, might be a great place to start if you want your remodeling efforts to increase the value of your house. Only one of the top five initiatives—the kitchen renovation—was carried out inside a house. The remaining four were outside, and three of them included curb appeal, a crucial selling point.
Additionally, the study provides information on project costs and resale values on a regional and city-by-city basis. You can prioritize your initiatives by digging deeper to identify those that are within your spending limits and may even generate a profit.
With the Help of a Reputable Contractor, Increase the Resale Value of Your Pelham, AL Home
There's a good probability that you live in one of the cities we service if you dwell in Shelby or Jefferson County. We have been assisting Shelby and Jefferson County residents with home remodeling projects for decades, from Pelham and Helena to Vestavia Hills, Homewood, Mountain Brook, and more. Prioritizing home improvements goes beyond resale value. Additionally, you will be able to enjoy the upgrades you make for as long as you own your house, and they may even enable you to stay in it longer as your housing requirements change over time. Strategic home improvements can make a lot of sense when you consider the benefits of an improved home today and the potential future returns.
When you're prepared to begin organizing your subsequent remodel, contact us!